Last week, The Megawatt Hour posted its second blog entry about how companies can control and accurately predict their future energy costs. Last month’s post focused on the problem of managing energy data. It recommended switching from manual data tracking and manipulation using spreadsheets to automated data management and analysis using modern software platforms. This month’s post focused on being prepared to act. The post recommended that customers know their energy budgets and prices for the next 1, 2, and 3-year periods and be prepared to sign fixed-price contracts if their renewal prices fall significantly.
This month’s post also noted that it is difficult to find accurate pricing data as retail suppliers guard this information carefully. However, the Energy Research Council tracks price data from more than a dozen suppliers and posts aggregated retail price data to Retail Energy Buyer on a weekly basis. These aggregated price benchmarks can help customers to monitor local retail electricity prices and act quickly when buying opportunities arise.