Schenectady International, Inc. to Use Planalytics GasBuyer for Natural Gas Purchasing Decisions
WAYNE, Pa., July 22, 2003 -- Planalytics Inc. announced today that Schenectady International, Inc. has licensed Planalytics(R) GasBuyer(SM), a web-delivered risk management tool for purchasing and hedging natural gas.
Planalytics GasBuyer helps companies reduce price risk exposure and lower costs by identifying when it is a good time to buy natural gas and when it is not. Year-to-date the tool has outperformed the market by 18 percent. The average price of natural gas for clients following the GasBuyer's suggestions was $4.91 per MMBtu for January 2003 through July 2003 futures contracts. This was $1.07 per MMBtu less than the average NYMEX month-end settlement price of $5.98 per MMBtu during this same period.
Planalytics GasBuyer uses proprietary long-range climate forecasts and inventory change projections, weekly storage data, real-time NYMEX futures contract pricing and advanced neural network technologies to evaluate natural gas prices for each of the next twelve months. Based on its knowledge of future weather and how it will ultimately impact the market, Planalytics GasBuyer determines if natural gas is currently "undervalued" or "overvalued" and then provides clients with daily buying and hedging actions that reduce risk and take advantage of opportunities presented by fluctuating prices. The tool's year-ahead view of the market allows clients to address their natural gas needs gradually, proactively and cost-effectively while minimizing the negative effects of shorter-term price volatility.
Schenectady International, Inc. (http://www.siigroup.com) is a private, family- owned company founded in 1906 with headquarters in Schenectady, NY. It is the world leader in the production of alkylphenols, and a leading global producer of performance resins.
Wayne, PA-based Planalytics helps companies make more effective and profitable decisions by forecasting weather-driven changes in supply, demand and prices for products and services. Companies in all industries use Planalytics' technologies to capitalize on market opportunities and improve financial results by hedging the impacts of weather volatility.
SOURCE Planalytics Inc.
Web Site: http://www.planalytics.com