Wayne, Pa., September 10, 2001 – Planalytics Inc. announced today that PECO has renewed its contract to use Planalytics’ Weathernomics Gas Buyerà¢â€ž-, a financial risk management tool that helps companies effectively manage price volatility and contain costs when purchasing and hedging natural gas.
The web-delivered tool provides buying, selling, or hedging actions designed to reduce risk and take advantage of opportunities presented by weather-driven effects on gas prices for up to one year into the future.
“The Planalytics tool has proven to be a valuable addition to our gas procurement program,” said Reed R. Horting, Vice President Gas Supply and Transportation of PECO. “With Weathernomics Gas Buyer and its view into the future direction of gas prices, we have been able to effectively manage price volatility and control gas costs for our customers in a very turbulent natural gas market.”
Wayne, PA-based Planalytics (www.planalytics.com) is a supply chain planning and optimization technology company that helps companies make more effective and profitable decisions by forecasting weather-driven changes in supply, demand and prices for products and services. Companies in all industries use Planalytics’ technologies to avoid squandered opportunities and poor financial results caused by the unanticipated impact of weather volatility.
PECO, an Exelon Company, delivers electricity to 1.5 million customers and natural gas to 430,000 customers in southeastern Pennsylvania. Based in Philadelphia, PECO and its sister utility, ComEd in the Chicago area, are subsidiaries of Exelon Energy Delivery.
Its parent, Exelon Corporation, is one of the largest energy service companies in the U.S. with the largest retail utility customer base, one of the largest power generation fleets and a wholesale energy marketing operation in North America. In 2000, PECO delivered 92.5 billion cubic feet of natural gas and 35.36 million megawatt hours of electricity, generating $3.5 billion in revenue for Exelon.