Solution:All baselines and ongoing Supply Management initiatives are available in PreVue, Prenova’s web-based decision analytics tool. The “Supply Management Contracts” area shows all energy supply contracts in graphical and table form, including a color-coded display of pending expiration dates. PDF copies of the contracts are stored in this area and may be viewed, emailed and printed by users as needed.
The information in the Price/Supply Management area is further broken out by Baseline, Actual, Plan and Outlook views. Baseline is normally the prior year actuals, but can also be industry benchmark data, internal benchmark data (vs. best site in class, etc.) or other historical reference points. Actual is current year actual values. Plan is the budget for the year. Outlook is a forward projection based on the current view of markets and customer-specific operating factors.
Prenova monitors various price points in the wholesale and retail energy markets throughout North America for both electricity and natural gas. Over 900 independent data sources are regularly collected and analyzed electronically. This data and information is used to track market price trends, market price volatility, and available retail pricing on several different supply products in each delivery market across North America. Prenova has resources in its Supply Management group that pull pricing data from wholesale and retail data feeds with this information. The pricing data is maintained in our databases and updated for display through PreVue at the end of each week and more frequently when energy market volatility is particularly high or when special market-related circumstances and/or geopolitical activities occur. There is a weekly report available on PreVue, the Energy Market Information update, which captures wholesale market price trends and portrays basic market fundamentals, which impact forward price curves and trends. Pricing by market is also available on the customer’s Market Status Report (MSR) and Market Strike Plan (MSP), which are included in PreVue as well. Both reports have a commentary for each market displayed regarding the supply options that are available and the risk strategies agreed to in working that market. The Strike Prices on the MSP specifically designate desirable prices by market that are reviewed and agreed upon by the customer/Prenova team that are in line with accomplishing specific risk management objectives for the customer.
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Prenova uses an extensive network of sources to track and understand regulated market changes. Included are trade organizations like EEI, “bill stuffers” from the nationwide bill pay management sources, internal research on tariff optimization and information provided by suppliers in the market. After a lead is cataloged and the impact analyzed, it is tracked in Prenova’s exclusive Regulatory MarketVue Report. This report is routinely published to PreVue® users, a page of the Market Watch Report is included as an example which follows:
Outcome: PreVue creates an unmatched level of visibility over price discovery, strike prices, and upcoming opportunities across all relevant customer markets. PreVue also delivers manageability and predictability over strategic plan outcomes, serving as a window into Supply Management implementation performance. PreVue quickly highlights how well the plan is tracking against targeted results. Customers gain control over their KPI’s, and can extend performance visibility down to the site level, which is a critical component in engaging facility managers and driving down accountability to ensure goals are met.
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