Houston-based GDF Suez Energy Resources N.A. – which claims to be the third-largest non-residential retail electricity provider in the United States – announced on January 15 that it is now offering large commercial and industrial (C&I) customers a tool that will enable them to better assess risk exposure, plan daily operations, and take advantage of opportunities in the market.
Called VPrice, it is designed to give C&I customers “the insight into historical, current, and forecasted prices they need to build stronger – and smarter – energy management strategies,” the retailer said.
Here’s how it works:
Customers of GDF Suez are automatically eligible to enroll in the free, no-obligation service by completing the enrollment form. Once they register, customers are provided with a login and password to access day-ahead and real-time reports on locational marginal pricing for the zone(s) of their choice. Locational marginal pricing reflects the value of energy at the specific place and time at which it is delivered.
VPower offers advanced energy management by bringing pricing and load data together with access to the wholesale power markets through features such as price alerts, load monitoring, and peak and demand management. Users can stay current, with features updated multiple times a day and available 24/7 – among them:
- Heat map views of historical and forecasted day-ahead and real-time prices, up to six days ahead. Normal pricing appears as green, but as prices move up to $75/ mWh, they become bright yellow. Beyond that, they gradually change to red, making it easy to identify pockets of high prices. Statistics above the heat map views provide quick access to the minimum, average, and maximum historical prices for the day, allowing users to compare the data with other trends.
- A trend graph showing both historical and forecasted data for day-ahead and real-time locational marginal pricing in selected zone(s). A “difference” comparison tool allows users to see how much higher one market has settled or is forecasted to settle in relation to another market. Quick views are also available by day, week, and month.
- An export function for historical data to support additional analysis.
“This new tool represents an easy, innovative opportunity for customers to put their finger on the pulse of energy pricing in the zones most relevant to their businesses,” GDF Suez Energy Resource N.A. Sustainability Marketing Director Victor Wulc. “We’re hoping that customers see VPrice as the Dow Jones of the near-term electricity market.
VPrice is part of the VPower group of services offered to customers of GDF Suez Energy Resources. VPower combines hardware at the meter with online software to track consumption in real time.