How to protect your business from a Texas Freeze-like financial disaster and commodity price volatility
1 Oct 2021
It was Feb. 14 when the wrath of storm Uri bore down on Texas and immediately began impacting Texas’ electric grid resilience and reliability, but nobody was prepared for the devastating impact and subsequent economic fallout.
Today, some seven months after the Texas Freeze, companies are facing a new challenge with the price of natural gas skyrocketing and another potential financial disaster due to unforeseen market volatility. Many are asking “What’s next? And how can I protect my business from the rapidly changing markets and utility price volatility?”
Effective utility management and procurement requires intelligence gathering and analytic resources to bring clarity to complex issues, trends and forecasts. Moreover, it requires strategic acumen to give a company the ability to optimize its utility contracts and manage usage when critical external factors are identified. For example, customers of Choice! Energy Management in Texas were alerted and informed of the risks associated to storm Uri on Feb. 11, three days before the storm hit, giving managed product customers the ability to track, adapt and optimize against what was an imminent hit on the Texas power grid.