Optimize Power Sale Agreement
Company
Large energy company that operates oil refineries in Northern and Southern California.
Challenge
Structure power sale agreement to maximize margins by selling surplus power while maintaining primary focus of meeting the power and steam needs of company refinery.
SATURN
- Developed re-usable framework to analyze and compare alternative power sale agreements with local utility and trading firms.
- Streamlined market price simulation, optimized refinery operation, power sale analysis, and margin and risk management
- Enabled cross-departments coordination, online results review, on-demand reporting, improved margins, and reduced risks.
Impact
- Structured improved power sale agreement that adds over 10 million dollars per year to the bottom line of one refinery.
- Saved staff time, improved organization skills, and enabled cross-departments collaboration.
- Empowered advanced optimization of refinery operation that enabled improved analysis of plant modernization.