ACES – a nationally recognized wholesale energy risk management and transaction execution service company – extended its contract with the City of Roseville, California (Roseville) through December 31st, 2013. The extension includes an option for service fee pricing for 2014 and 2015. This contract affirms ACES’ presence as a leading provider of energy risk management services to municipal and public power utilities, such as ACES’ newest customer Okanogan PUD, located in the western U.S.
Since 2006 ACES has been providing Roseville with a suite of front office, middle office, back office, and IT and reporting services.
Front office services provided by ACES include as-agent management of day-ahead and real-time power and gas transactions, generation dispatch, development of daily gas and electric strategies, and helping Roseville develop and implement long-term risk-hedging strategies. Middle office services include credit services, contract administration, and trading controls (including the capture, verification, and monitoring of all market transactions). Back office services include the settlement of bilateral and CaISO energy transactions.
“We’re a satisfied customer,” said Michelle Bertolino, Director of Roseville Electric. “We continue to believe that ACES’ services provide good value for Roseville, and allow us to do a better job of managing risk, and power and gas costs.”
“Although we survey customers annually as part of our effort to provide quality services, the ultimate test of how we are performing comes at contract renewal time,” added David J. Tudor, President and CEO of ACES. “Roseville is a valued customer, and we are extremely pleased that they chose to continue taking ACES services.”
Located in Placer County along the eastern edge of the Sacramento Valley, at the base of the Sierra Nevada foothills, Roseville is about 16 miles from Sacramento, the state capital. What started as a town developed by disappointed miners from the famed 1849 Gold Rush has blossomed into a thoroughly developed, independent city with an estimated population of 120,000. Roseville incorporated on April 10, 1909 and is a charter city operating under a City Manager-Council form of government.
About ACES Power Marketing
ACES Power Marketing, headquartered in Carmel, Indiana, began its operations in February of 1999, and is owned by eighteen (18) power supply cooperatives. It also provides services to over 50 customers including cooperatives, municipals, irrigation and public water agencies, financial institutions, industrial companies, and independent power producers.
ACES’ business strategy is unique in the energy marketing and trading industry. It operates as an energy risk management and hedge manager, developing strategies, implementing trading controls, and managing transaction execution for multiple entities as their legal agent. ACES’ business process allows its customers to actively participate in the hedging strategy by collectively utilizing ACES’ infrastructure and resources to assess risks and execute specific, customized portfolio strategies. ACES does not transact for its own account, nor does it speculate in the market for its Clients.