ESG Helps Improve Financial Position and Operational Performance Through Data Insights

Corona Energy, a leading supplier of industrial and commercial (I&C) gas and electricity have utilised ESG Consulting Services to provide transparent, accurate and up-to-date views of their energy settlements positions since an initial proof-of-concept in 2016.

The Challenge – Settlements Gaps and Revenue Leakage

All energy suppliers have data handling and settlements challenges due to the complex and fluid supply chain through which data travels between industry, asset and read agents, suppliers and their customers. With data discrepancies comes settlements gaps, where the resulting revenue leakage can mean the difference between profit and loss on a contract.

Closing the Gap Through Data and Insights

Corona recognised this predicament and set about implementing a solution which involved engaging ESG’s team of energy data experts and their software solution as part of an improved business processes to identify and resolve industry billing errors, understand the root cause of Industry charging discrepancies and align operational actions with a financial assurance strategy.

Saving Energy Costs and Gaining Efficiencies Through Collaboration

Year after year, the inevitable energy imbalances, which are common across the supply market, are identified, understood and managed. The collaborative approach between Corona and ESG ensures the financial risk of industry overcharges is successfully mitigated. Through access to cleansed data and the insights delivered from ESG FlowManager™, billing of energy and non-commodity charges is more accurate and reflected in a more capable team with improved customer satisfaction.

Richard Carnall, ESG Head of Consulting Services, says, “The Corona Energy relationship is the perfect blueprint for a successful settlements consultancy project. Sharing the same accurate data and working towards mutual goals have resulted in vastly improved financial and operational performance.”

Phil Morton, CFO, Corona Energy, says, “ESG’s Consulting Team support Corona Energy with accurate views of monthly financial positions. This information is valuable in detecting and reconciling imbalances and providing a first sight of where settlements focus is required.”

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