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RISK

Development Long term risk management and fuel hedging plan Hedged in 12-18 month cycles with a 5-10 year view.

Execution Fuel procurement and hedges (including RFP process). Targets were set based on budget forecast and market levels; transparency achieved through procurement stage. Education and advice on fuel markets and hedging concepts.

Assessment Tracking of real time view of results, data management, ? nancial reporting. Physical to paper accounting and reporting / Quarterly review of hedging strategy, results.

Discipline The results for the client have been impressive, both in empirical ? nancial terms and in terms of their broader understanding of the fuel markets.

This client chose to “cap” their price using an options turn gives them the con