InSight is first tool of its type to be provided by an energy retailer
Gazprom Energy has announced the launch of ‘InSight’, a free tool that will enable its major energy customers and energy consultant partners to manage their strategic energy buying through an indepth real-time view of the market.
InSight streamlines the energy procurement process between Gazprom Energy and its customers and consultant partners and enables organisations to be more agile in their energy purchasing, which can lead to financial savings.
Accessing live market prices and information, organisations can set alerts and buy or trade precisely when the market conditions are right for them, meaning more of their time can be spent strategically on trading and less on generating and analysing spreadsheet reports.
Gazprom Energy is the first UK energy retailer to provide its customers on flexible purchasing contracts with a free market insight and trading tool, which allows them to view their exact position in the energy market 24/7 from any internet connected location including mobile.
Energy managers can view reports that are updated in real time at the touch of a button to establish energy prices and identify the amount they can sell their energy for.
Enhancing the personal support the organisation already receives from Gazprom’s energy procurement team, buyers can receive information direct from InSight based on their individual energy buying needs.
In future releases of InSight customers and their consultants will also be able to trade energy using the tool providing access whenever it’s needed.
InSight combines energy market trends with an organisation’s own energy needs and purchasing profile, removing the onus on energy managers and giving them more time to make the correct strategic buying decisions.
The platform alerts the user when energy prices have reached a specific user-defined level, allowing businesses to react quickly and accurately to changes in the market, and buy or sell through the system when prices are within their approved threshold.
Customers will be able to carry out ‘dummy runs’ to see hypothetically how their spending could be affected by different purchases and trades.
Thomas Meredith, customer relationship analyst at Gazprom Energy, said: “Through InSight, our customers will have access to a one-stop shop for strategic energy buying, and benefit from a more-streamlined and automated energy procurement process.
“This will allow energy managers to buy and sell energy much quicker, and view the position of the energy market all in one solution.
“We don’t want to merely give customers the data they need to make energy buying decisions; we want to give them something more interactive that provides the answers they need to map their own position against changes in the energy market.
“Our experience with customers finds that some businesses spend as long as a whole day a week pulling together reports to share with other departments such as finance.
“We wanted to give all of our flexible energy buying customers a transparent and cost effective service and the ability to retrieve the information they need instantly.”