WeatherWise USA Adds Risk Management to Product Line - New Service Lowers Risk of Fixed Bill Programs
WeatherWise USA announces the addition of Risk Management to its portfolio of products. WeatherWise’s Risk Management is a formal structure to provide utilities offering fixed bill products with advanced risk management technology, and even more importantly, a guarantee of program performance. WeatherWise is best known for its support of energy companies offering fixed bill products to their consumers. They provide the analysis critical to successful electric or gas fixed bill implementation by factoring in variability in usage patterns, weather, and energy prices.
Pittsburgh, PA (PRWEB) February 16, 2005 -- WeatherWise USA announces the
addition of Risk Management to its portfolio of products. WeatherWise is best
known for its support of energy companies offering fixed bill products to their
consumers. They provide the analysis critical to successful electric or gas
fixed bill implementation by factoring in variability in usage patterns,
weather, and energy prices. This results in reduced risks and operating costs to
the energy companies and to their consumers. WeatherWise utilizes its
proprietary computer models and expert analysis to provide appropriate fixed
bill quotes for each individual consumer.
WeatherWise’s Risk Management
is a formal structure to provide utilities offering fixed bill products with
advanced risk management technology, and even more importantly, a guarantee of
program performance. "We are confident of our capabilities in electric and gas
fixed bill programs and are certain of our ability to manage all the underlying
risks," states Rand Warsaw, CEO of WeatherWise USA. "So much so that we are
willing to back our product by putting our own money at
risk."
WeatherWise is no stranger to risk. Their entire business is built
around energy risk management and financial engineering. “In any fixed bill
program there are risks to the company offering the product, such as market
penetration levels, energy purchasing, pricing, consumer behavior, and model
issues that include temperature bias or selection bias, and numerous
weather-hedging concerns," explains Severn Wright, Manager of Financial
Engineering. "WeatherWise actively manages those risks and we work with our
customers to control their specific risk factors.”
Board member Barry
Fingerhut, of Wheatley Partners, sees the addition of Risk Management to the
fixed bill product line as changing the entire competitive landscape. "Companies
in the fixed bill support marketplace compete on the capabilities of their
modeling technology," Fingerhut contends. "WeatherWise has proven the superior
capability of their models. By adding Risk Management to their fixed bill
support services, they've created a sustainable advantage. If I were an energy
company offering a fixed bill program to my customers, I would want support from
someone who is willling to back their work with their own money.”
About
WeatherWise USA, Inc.
WeatherWise USA, located in Pittsburgh, PA, is the
premier provider of customized products for energy suppliers to offer their
customers—including fixed bills, capped bills, energy efficiency reporting, and
billing support services. WeatherWise’s unique use of computerized models based
on engineering, rather than econometric, principles enables the development of
products and services that reduce financial risk for energy providers and their
residential and commercial consumers. WeatherWise is the only supplier of fixed
bill products that can provide warranties of fixed bill program performance for
programs offered in the United States and in Canada.
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Source : http://www.prweb.com/releases/2005/2/prweb208889.htm