Survey Reveals Volatile Prices in Energy-Intensive Industries Create Challenges for Firms

New York - 17 July 2012

Industry Leaders Recognize Need for a System with a Common Database to Help Control Production Costs – 45% Note this as Top Priority

OpenLink Financial LLC (OpenLink), a leading provider of commodity/energy trading and risk management (C/ETRM) software solutions, released findings from a recent webinar, “Managing Energy Costs in Energy Intensive Industries,” which surveyed senior energy and commodities industry professionals. The survey revealed industry participants’ priorities and greatest challenges in these sectors.

When asked about the most crucial factor for maximizing energy supply efficiency and minimizing costs, participants said:

  • An integrated energy management system with a common database – 45%
  • Access to accurate data for demand and prices – 29%
  • Integration of isolated solutions for managing energy – 16%
  • Direct access to the energy market – 10%

Jayesh Parmar, Partner from Baringa’s Energy Advisory Service (EAS) practice, said, “These variances in energy procurement prices will only magnify as volatility in the global marketplace increases. The survey results are in line with what we are seeing in our advisory business, and it has become very clear that in order to meet clients’ needs, firms will require a more proactive approach, leveraging robust solutions and real time-data.”

Dr. Markus Seiser, OpenLink Executive Vice President of Global Product Marketing, said, “The survey clearly reveals industrial companies’ needs for a holistic view of their data – especially when it comes to demand, prices and procurement options. Inherently, firms experience and mitigate a certain level of exposure. Due to this exposure and the need to stay competitive in the ever-changing global energy industry, firms recognize the correlation between energy production costs and exposures that ultimately impact their manufacturing costs. OpenLink provides these participants the opportunity to leverage an integrated energy management system with a common database through our comprehensive solution suites.”

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