New Energy Purchasing Technologies Provide Transparency to Utility Regulators

PRLog (Press Release) - Jul. 19, 2012 - PORTLAND, OR – Regulators, utilities and companies involved in the production, distribution and storage of natural gas are constantly seeking improved efficiency, competitive pricing and increased transaction speed for the procurement of energy and related services. Tripp Dunman, Managing Director at Pricelock and a participant on the panel “Can Technology Provide More Transparency and Communication to Regulators?” at the National Association of Regulatory Commissioners summer meeting in Portland on July 24th will discuss how technology has helped companies involved in buying and selling energy to easily communicate, maintain their relationships and increase their pricing knowledge. These improvements are available for the entire energy complex, including natural gas, natural gas storage, power, coal, railcars and distillates.

According to Dunman, energy buyers not only face shrinking budgets but are also asked to demonstrate to their senior management and regulators that they have a streamlined process to get competitive market prices for their energy purchases. Dunman will present real-life case studies from Marketplace clients that illustrate how an online auction can help in getting better prices, create transparency in non-liquid markets and provide comprehensive audit trail and regulatory reports. “All in all new internet based technologies are providing bottom line cost savings and productivity efficiencies to utilities,” said Dunman.

Pricelock, based in Silicon Valley, has conducted multiple auctions with some of the largest utilities and power generators in the US and Canada through its signature product, Pricelock Marketplace.

About Tripp Dunman
Tripp Dunman has over 20 years experience in the energy space - starting with 14 years trading and managing supply logistics in the oil industry including MAPCO Petroleum Inc. and other oil trading houses. He also served as the head of the Mid-Continent's electricity trading desk and was the portfolio manager of the weather derivatives group, originating complex energy/weather structures for the alternative risk group at Aquila Energy. Later Dunman joined FCStone Group and became the Managing Director of the Fuel Surcharge Products and taught risk management at commodity and fuel hedging schools nationwide.

About Pricelock

Pricelock, headquartered in Silicon Valley, leverages breakthrough technology to offer major energy buyers and sellers the most powerful and easy-to-use online energy auction platform. The company serves some of the largest power generators, utilities, commercial buyers, railroads and airlines in North America. Its solutions are designed in close collaboration with leading industry buyers and sellers of gasoline, diesel, jet fuel, natural gas, storage, pipeline capacity, power, coal and railcar leases to offer customers the ability to understand, control and reduce energy costs in innovative ways.

Pricelock is proud to have been recognized on the Forbes list of America’s Most Promising Companies, awarded the Global Energy Award of Excellence by Platts and named one of the Hottest Companies in Silicon Valley by Lead 411. Pricelock’s investors include Artiman Ventures, Barclays, Goldman Sachs, RenaissanceRe and Traveler’s Insurance. To learn more about Pricelock please visit https://www.pricelock.com.

Photo:
http://www.prlog.org/11929099/1