LISLE, Ill., Sept. 24, 2018 /PRNewswire/ -- More than 1,000 companies – ranging from electric utilities and multinational oil and gas companies to Fortune 500 financial institutions – now settle energy transactions on Aquilon's Energy Settlement Network. ESN is a cloud-based platform that digitalizes and automates the energy settlement process.
"The driver behind ESN's rapid growth is the strategic value it delivers to its members," said Jeffrey Wagner, founder and CEO of Aquilon Energy Services. "In an increasingly competitive and diversified energy market, companies can greatly enhance operational efficiency and improve margins by digitalizing core back office functions like settlement."
With ESN, settlement departments can settle more transactions faster and more securely than they could using manual processes. Further, ESN facilitates compliance reporting and improved operational cash-flow management.
Over the past year, ESN membership more than doubled and network transactions more than tripled. Settlement departments on five continents currently use ESN. Since the network launched in 2015, members have settled more than 25 million wholesale power and natural gas transactions.
To read the latest about Aquilon and ESN, visit Aquilon's blog.
About Aquilon Energy Services Inc.
Aquilon Energy Services Inc. develops innovative software and service solutions for the energy industry. The Aquilon team combines deep industry insights with advanced technology to bring reliable, collaborative solutions to the energy market. The firm's Energy Settlement Network (ESN) enables energy participants of all sizes to manage, access and settle large volumes of power, oil and natural gas transactions with their counterparties. The company is based in Lisle, Illinois, and has an office in Houston. For more information, please visit www.aquiloninc.com.
View original content:http://www.prnewswire.com/news-releases/more-than-1-000-companies-now-settle-energy-transactions-on-aquilons-energy-settlement-network-300717018.html
SOURCE Aquilon Energy Services Inc.
