PEABODY, MA, December 1, 2004 — LODESTAR Corporation announced the new LODESTAR Portfolio Management component to its LODESTAR Customer Choice Suite. This new solution will reduce energy procurement costs and maximize profits with more accurate forecasting, pricing and settlement processes when LODESTAR’s customers are acquiring wholesale energy.
LODESTAR Portfolio Management allows wholesalers and retailers to quickly reconcile and optimize energy demands with supply options by determining the best price for blocks of energy from different suppliers. This optimization of portfolio value and management provides users the ability to refine the balance of supply and demand to achieve the “best” short-term coverage position, by exercising options and spot market trades.
“In order to reduce costs and maximize profits, companies are closely managing and optimizing their energy demand forecasts versus actual energy demands with the wholesale procurement and supply processes. LODESTAR Portfolio Management will help companies realize seamless integration of retail business functions and wholesale energy procurement functions,” explains Glenn MacRill, Vice President of Product Management and General Manager of Houston Operations for LODESTAR Corporation. “LODESTAR Portfolio Management will be a critical element for our clients to help them comply with the demanding Sarbanes-Oxley requirements.”
Another challenge for retailers is the need to monitor and manage short-term position and buy and sell energy on the spot market. Being able to react quickly and cost-effectively to changes in demand and supply is critical to profitability and market position.
LODESTAR Portfolio Management capabilities include:
— Meter Data Management and Reporting
— Profiling, Aggregation and Shadow Settlement
— Demand and Price Forecasting
— Contract Management
— Matching Demand and Supply, Optimized Sourcing, and Risk Assessment
Chris Hamilos, Chairman & CEO adds, “LODESTAR Portfolio Management, the most recent addition to the LODESTAR Customer Choice Suite, expands LODESTAR’s product footprint into wholesale energy procurement, creating the most flexible, adaptable, and scalable energy software solution available around the world.”
LODESTAR has already provided portfolio management solutions to three major energy companies in the United States, Europe and Australia. The next release of LODESTAR Portfolio Management, scheduled for April 2005, will include significant market-driven enhancements and extensive pre-configuration to provide the world’s first commercial off-the-shelf solution for energy portfolio management.”
About LODESTAR Corporation
LODESTAR is a world leading provider of energy software solutions. We enable energy companies to realize business advantage by combining a true energy information foundation with a suite of applications for critical business processes that span across the enterprise. Over 120 leading energy companies use our solutions worldwide. LODESTAR Corporation’s headquarters is at Two Corporation Way in Peabody, MA 01960 USA.