Strategic energy management consultancy ZTP (www.ztpuk.com), in collaboration with the University of Kent’s Kent Business School and School of Mathematics, Statistics and Actuarial Science, has secured significant funding from Innovate UK and the Economic and Social Reasearch Council (ESRC), to develop its first collaborative Knowledge Transfer Partnership project.
The partnership will undertake a two-year project to design and build risk management algorithms that will enable UK and multi-national businesses to mitigate risk associated with open energy market positions. The product will engage stakeholders from multiple countries and aggregate risk reporting to a single reporting facility.
Alex Hill, Managing Director of ZTP, said: “We are thrilled to have secured this funding to develop a risk management product which will transform how multi-national businesses procure energy. With energy costs rising due to both fundamentals in the wholesale market and increased non commodity costs, there is a real need for a risk management solution which will enable multi-national businesses to protect themselves from the unpredictability of the open energy market, and to maximise savings on energy use and costs.”
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