PITTSBURGH, May 9, 2005 (BUSINESS WIRE) — Strategic Energy, a supplier of retail electricity in competitive markets, unveiled a new service aimed at giving large energy users greater control over escalating electricity costs.
PowerPortfolio gives large customers the ability to choose a combination of fixed and market-based prices to lower costs, reduce market exposure and capitalize on market downturns to lock in portions of their load. Unlike competing “block and index” offerings that dictate a pre-determined set of fixed and market-based prices up front for the entire contract, PowerPortfolio allows customers to actively fix or float energy prices in real-time at any point throughout the contract term with the help of an assigned Portfolio Strategist. To make informed decisions, customers also receive regular market updates and customized activity reports on their portfolio position.
“PowerPortfolio gives very large energy users a powerful new tool to employ when market conditions demand a more active energy management approach,” said Michael Young, Senior Vice President of Sales at Strategic Energy. “With electricity prices eclipsing historical highs, energy managers rely on Strategic Energy to provide experienced, objective information they can use to make timely decisions.”
As key states across the country move closer to providing open, fully deregulated energy markets, customers are now better positioned to make informed purchasing decisions based on real pricing signals in the wholesale market. “With many transition periods set to expire over the next few years, large customers are partnering with competitive suppliers like Strategic Energy to tap into the wholesale electricity market through customized products and services,” said John Dietrich, Director of Marketing. “With so many factors impacting the price of electricity, large customers must have access to timely information so they can effectively manage their bottom line.”
PowerPortfolio is now available to customers in California, Texas, Ohio, New York, Pennsylvania and Massachusetts with an aggregate demand of five megawatts (MWs) or greater, with additional states expected to come online later this year. Strategic Energy is already serving customers in the industrial, commercial real estate, big-box retail and quick-service restaurant segments.
About Strategic Energy [ www.sel.com ]
Strategic Energy, headquartered in Pittsburgh since 1986, is a leading supplier of retail electricity in competitive markets. For a management fee, Strategic Energy buys wholesale power for direct delivery to retail customers. The company operates in ten states with retail choice, including California, Connecticut, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Pennsylvania and Texas. Strategic Energy is a wholly owned subsidiary of Great Plains Energy.