With ESN, Invenergy’s settlement team can collaborate more easily with their counterparties and manage settlement information in a single, secure location.
“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.