Energy Procurement Managers, Purchasers, and other procurement personnel are focused on reducing costs and ensuring that contracts are performing how you anticipated. Just some examples of watchwire functionalities that are beneficial to those in this space are:
Our platform, watchwire, provides various standard reports offering analytics into various KPIs. For example, our Procurement Performance Report explains how your current contracts are performing compared to default utility rates. This report also gives clarity to product structures and if you should have opted for an index rate vs. a fixed rate.
With up to 40% of your supply rates being determined by your peak load contribution, it is crucial to have a plan in place to curtail demand during these peak load hours. With watchwire, you are notified when the grid is expected to peak so you can take appropriate action and save on your supply contracts for the coming year.
watchwire provides the ability to generate electric, steam, natural gas, and water budgets based off historical invoice data, combined with various independent variables (weather, occupancy, and/or production variables) that may affect usage/demand for these commodities. Budgets are forecasted using our algorithm that incorporates independent variables to derive variance drivers (capacity charges, LMPs) on a monthly basis. They can also be reforecasted based on actual to-date invoice data to recalculate budget numbers.