Global demand for energy continues to increase, with demand outpacing the supply. Basic economics dictate that as demand for energy increases, the cost of producing energy to satisfy that demand increases as well. As a result, overall energy costs (both in terms of production costs and cost to the energy participant) continue to increase, with no end in sight.
In the electricity market, new electricity generation plants have been added over the years, but the increase in energy demand has outpaced the creation of these new sources of supply. Not only does increasing demand affect energy costs, these prices vary based on such factors as the day, time of day, and geographic area in which the energy is produced and consumed. Furthermore, the gap between supply and demand becomes alarmingly small on a few very hot or very cold days each year. As a result, wholesale prices rise to very high levels during those times.
So, what do we mean by ‘New Markets’?
Deregulation and access to new technology has opened the door for organizations to proactively create new revenue through their own energy management practices. These efforts constitute the new markets for businesses to target. EnergyConnect coordinates your energy management with utilities and ISOs while simultaneously giving you the tools to generate cash within this new energy market.