Press Release

Survey Reveals Volatile Prices in Energy-intensive Industries Create Challenges for CIRMS

Industry leaders recognize need for an integrated energy management system with a common database to help control production costs

New York – July 17, 2012 – 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 EVP of Global Product Marketing, said, "Inherently, energy firms maintain a high degree of price exposure and accordingly need to manage such to stay competitive. Openlink provides solutions that maximize profits and improve companies' ability to timely recognize the correlation between production costs, price, and volume exposures via one system and one common database."

To learn more, watch the Managing Energy Costs in Energy-Intensive Industries webinar.

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