Now, more than 1,000 companies — ranging from electric utilities and multinational oil and gas companies to Fortune 500 financial institutions — now settle energy transactions on ESN®.
Over the past year, ESN membership more than doubled and network transactions more than tripled. Settlement departments on five continents currently use ESN. Since the network launched in 2015, members have settled more than 25 million wholesale power and natural gas transactions.
The driver behind ESN’s rapid growth is the strategic value it delivers to its members. In an increasingly competitive and diversified energy market, companies can greatly enhance operational efficiency and improve margins by digitalizing core back office functions like settlement.
With ESN, settlement departments can settle more transactions faster and more securely than they could using manual processes. Further, ESN facilitates compliance reporting and improved operational cash-flow management.
Read Aquilon CEO Jeffrey Wagner's recent article to learn more about the key characteristics that define the digital settlement department.