Behind the Services are tools, knowledge, and know-how that drive results. Collectively, these Services are called “Energy Management.”
Procure Natural Gas & Electricity
Pricing, contract terms, reliability… all of these things affect what you spend for energy. Many business owners find that creating “apples-to-apples” comparisons can be elusive while trying to sort through industry sales jargon, market timing, and a myriad of supply options. Despite apparent similarities, supply offerings vary dramatically from a cost and service perspective. Additionally, there are both pre- and post-transaction cost exposures that command attention. Foster will create competition between suppliers through a proven “Request for Proposal” driven process, resulting in a normalized and advantageous supply arrangement. Given Brad Foster’s background in both energy sales and energy procurement, you will find this service to be a great value.
Assess & Manage Commodity Price Risk
The energy contract is in place… now it is time to purchase the commodity. Energy prices are highly volatile, and the commodity price may represent up to 85% of your total energy cost. Profitability is partially dependent on your energy prices. This requires a strategy. Foster will help you understand your pricing options and implement a commodity purchasing plan that is aligned with your business objectives.
Monitor & Evaluate Energy Price Drivers
Energy prices are influenced by a number of dynamic fundamentals. Does your business have enough timely information to make sensible purchasing decisions? Up-to-date, relevant, organized, and in-depth information can help your business make smart strategic decisions. Foster tracks and reports key market drivers to keep you informed.
Develop, Maintain, & Report Budgets
Does your business budget for energy? Do you have up-to-date information to make key purchasing decisions? Do you have enough time or know-how to organize various energy cost components into an organized format? Foster customizes consolidated reporting packages to meet your needs and makes it available “at your fingertips.” Many of Foster’s clients have gained significant value from this service.
An audit of utility invoices could result in the identification of a rate re-classification that would lead to an immediate cost reduction. Billing errors from suppliers are not uncommon in the energy industry, and these errors can be costly. Oftentimes, these errors are overlooked by consumers. Foster reviews invoices to identify savings opportunities and facilitates refunds.
Interface with Suppliers
Many clients rely on Foster to interface with energy suppliers regarding contracts, commodity purchases, supply nominations, and billing issues. There is a significant cost benefit related to this service. Why? Suppliers are most responsive when working with an informed facilitator that understands the “ins and outs” of this industry. Additionally, time is money, and clients are free to focus on their core business while their advocate is working on their behalf.
Negotiate Rates with Utilities
There may be opportunities to solidify more cost-effective rates with your local utility company. Wouldn’t you like that? Foster can help facilitate cost benefits that might seem otherwise unattainable when working with a state regulated utility.
The electricity market is evolving, and many consumers can now participate in programs that provide financial benefits for shedding electric load during peak demand periods. This is called “Demand Response.” There are a host of companies (often known as “Curtailment Service Providers”) that facilitate this service. Foster has found that there are significant differences between the offers from Curtailment Service Providers. Foster helps business optimize the value of Demand Response by creating competition between Curtailment Service Providers and facilitates the most cost-favorable arrangements. Your business will not be allowed to leave money on the table.
Evaluate Alternate Energy Opportunities
Some consumers have access to multiple fuel sources to run an operation. There may be several different ways to utilize these resources as assets to create cost-saving opportunities. Foster can help your business maximize the value of these assets to improve the bottom line.
Identify Other Energy Cost Savers
Not to be minimized. There are a number of highly valuable benefits that Foster can provide your business based on years of industry experience and know-how. Your business, like many other clients, can realize otherwise unknown cost benefits through an active working relationship with Foster.