Management consultancy Baringa has unveiled Energy Source, a software platform designed to assist large corporations in managing their energy portfolios and making informed decisions regarding power purchase agreements (PPAs). The tool, which is Baringa’s first licensable software offering, provides an integrated view of companies’ energy requirements, allowing them to evaluate renewable energy contracts more effectively.
Energy Source enables organizations to assess their entire energy portfolio, including existing PPAs, demand profiles, and pricing models. This visibility helps corporations understand their overall energy position, optimize decision-making, and reduce the risk of inefficiency. The platform also allows for better tracking, reporting, and sharing of key data with stakeholders.
Henning Bottger, a partner at Baringa, noted, “Large firms have been setting decarbonisation targets, but this is the easy part – the hard challenge is decarbonising their electricity to meet those targets. One of the largest levers companies can pull are PPAs – but typically information about PPAs exists on different spreadsheets in different geographies, sometimes on the servers of different suppliers.”
Bottger emphasized that this disjointed data often leads to inefficiencies and unnecessary financial waste. “This lack of joined-up data can lead to inefficiency in decarbonisation, and potentially to millions being wasted through poor allocation of resources,” he said.
The software aims to remedy this issue by consolidating information into one unified platform, giving companies the ability to access all relevant PPA data, conduct price modelling, and evaluate risks across multiple contracts. By doing so, Energy Source facilitates better decision-making regarding electricity procurement, ultimately saving money and reducing carbon emissions.
Available as a web application, Energy Source is designed to support businesses from the early stages of energy procurement strategy development to the ongoing management and optimization of their energy portfolios. The platform also assists with tender processes and offers detailed audit and reporting capabilities.
By providing a single, streamlined view of energy-related data, Baringa’s Energy Source helps organizations navigate the complexities of energy procurement in an increasingly decarbonized market.
