Drew Turner, Director of Commercial Power Operations
The last few years have carved out a whole new world for renewable energy. According to The International Energy Agency (IEA)'s 'Renewable 2019’ report, solar, wind, and hydropower projects have rolled out faster than they ever have in the last four years. In fact, experts predict that global renewable energy capacity will increase by nearly 50 percent between 2019 and 2024. However, the unprecedented growth of renewable energy can severely impact traditional gas and power generation/distribution companies worldwide. In addition to dealing with challenges revolving around geopolitical upheaval and narrowing profit margins, these entities are now forced to find a way to recover from the dampened wholesale electricity and gas prices.
Consequently, with pressure on energy and capacity margins, cost of operating becomes a focal point of asset owners as they look for new and economical methods to revamp and improve their operating business model. Owners are looking for an asset manager who can bring in automation, analytics, and the latest technologies to become more efficient in order to squeeze every penny out of the markets they operate in.
As a leading natural gas and power wholesale marketing, trading company Emera Energy leverages its expertise in those areas to enable its asset management team to add value to their customers. Emera Energy’s commercial asset management team empowers the asset owners it works with to better understand the markets in which they operate and to create operational efficiency in a sustainable way. Founded in 2002, Emera Energy provides tailored, 24/7 solutions and a full suite of energy management services for natural gas producers, local distribution companies, power generators, load-serving entities, and renewable asset owners. The company’s expertise, coupled with its robust IT infrastructure, automated processes, systems, and tools, help its clients to become more efficient and effective, in turn reducing cost of ownership.
As former renewable and gas fired generation owners, Emera Energy understands the challenges of asset ownership and aims to educate its clients about the market pain points and risks associated with an asset. The company uses relevant technologies while layering in-house solutions and process automation to interact with different data streams and sources.. Emera Energy can then compile the information into a series of customized reports for easy consumption by its customers.
Dave Bezanson, VP of Commercial Operations
As a result, the process helps to monetize and manage the facility and its risk adequately. Emera Energy also conducts monthly, quarterly, semi-annually meetings with asset owners to assess their goals and objectives and to ensure asset owners are informed on evolving market conditions. “It is very important to understand the risk tolerance of the asset owners and come up with strategies to work within it. We do an excellent job of tailoring our approach to the customer’s risk appetite,” says Dave Bezanson, VP of Commercial Operations at Emera Energy.
As we work in various markets, it is very important to understand the risk tolerance of the asset owners and come up with strategies to work within it. We do an excellent job of tailoring our approach to the customer’s risk appetite
The company's biggest asset is its employees, who bring extensive knowledge of the US northeast and Canadian electricity transmission and distribution networks. Managing over 3GW of third-party generation assets in multiple market areas, the company is an active market participant in the United States (ISO-NE, NYISO, PJM, MISO, SPP) and Canada (IESO). Our expertise in wholesale power markets coupled with " our ability to reliably deliver gas to our customers enables us to assess the economic viability of each asset. This helps our clients make better decisions around their asset,” says Drew Turner, Director of Commercial Power Operations at Emera Energy.
With over 18 years of experience, the company has established itself as an industry leader. Emera Energy has successfully honed its capabilities to continually align with the changing market needs while delivering cutting edge technologies to benefit its customers. This qualifies the company to be a preferred choice for as a commercial asset managers by asset owners throughout the Northeast. Being a subsidiary of Emera Inc, Emera Energy’s trading business is backed by Emera Inc.’s sound credit rating that offers customers the financial stability of an investment-grade counterparty. Taking Emera Inc's legacy forward, the company will continue building long-term relationships with existing customers while connecting with diverse partners as it expands into markets throughout North America.