With ESN, Invenergy’s settlement team can collaborate more easily with their counterparties and manage settlement information in a single, secure location.
ESN is an innovative, cloud-based platform that automates the energy settlement process and helps members significantly improve operations, auditing, compliance, cash-flow management and security.
“We are transforming our energy settlement operations with ESN,” said Danielle Hayter, senior manager of commercial settlements for Invenergy. “We had the majority of our trading counterparties join the platform within 45 days.
"By allowing us to interact with all of our counterparties in one place, ESN is helping us be more effective, managing an ever-increasing amount of transactions and meeting deadlines with greater efficiency.”
The Invenergy Future Fund was an early investor in Aquilon Energy Services, and introduced the company to Invenergy's trading team. Invenergy quickly recognized the value of having their counterparties, communication and documentation organized on a secure, collaborative and cloud-based network. Invenergy now settles physical natural gas on ESN.
“We’re happy to see another major energy company join the network and quickly experience the benefits of ESN,” said Jeffrey Wagner, founder and CEO of Aquilon Energy Services. “The driver behind ESN’s rapid growth is the significant value it delivers to energy companies by introducing operational efficiencies to the settlement process.”
The efficiencies experienced by ESN members are manifested in three key areas:
- Early identification of discrepancies, resulting in an exception-driven process that prioritizes the resolution of breaks.
- Real-time collaboration with access to a secure centralized hub for all counterparty communication, documentation and invoices.
- Built-in data security that prevents fraud with traceability and transparency of all transactions, reducing the risk of lost or stolen data.
Aquilon Energy Services Inc. develops innovative software and service solutions for the energy industry The Aquilon team combines deep industry insights with advanced technology to bring reliable, collaborative solutions to the energy market. The firm’s Energy Settlement Network (ESN®) enables energy participants of all sizes to manage, access and settle large volumes of power, oil and natural gas transactions with their counterparties. The company, which was named the 2017 Innovation of the Year by Energy Risk magazine, is based in Lisle, Illinois, and has an office in Houston. For more information, visit www.aquiloninc.com