Alliance to result in era of price transparency for the full range of industry fuel buyers
HOUSTON—EPIC News+Data, a newly formed and innovative publisher and price reporting agency (PRA), and Schneider Electric, a global specialist in energy management and automation, have formed an alliance to provide comprehensive wholesale price data to motor fuel marketers and their customers—fuel retailers and commercial fuel buyers.
Gary Bevers, President of Epic News+Data, states, “Our goal is to extend fuel pricing benchmark indexes to the “last mile” of the supply chain. We are excited to partner with Schneider Electric to build on their DTN FastRacks® wholesale pricing index and, by taking a page out of the new economy, make pricing data affordable and transparent down to the last, and sometimes smallest, trading partners in the market.”
EPIC News+Data is building on the success of their EPIC Retail Fuel Gauge with the addition of integrated intellectual property from the technology firm Ceremity, and investments from the venture capital firm Ringleader Ventures and independent parties. In addition to providing timely industry news and operational content to EPIC’s diverse publishing audience, a core enhancement will be EPIC’s retail and wholesale price data and pricing indexes. The aim is to provide a new era of fuel price transparency to all parties that need data to make critical fuel buying decisions, including smaller fuel purchasers that found such information to be cost prohibitive in the past.
“One thing we are most proud of here at Schneider Electric is that our solutions allow all players in downstream oil and gas—whether large or small—to compete on a level playing field,” said Karen Madden, Senior Vice President, Cloud Services Operations at Schneider Electric. “EPIC’s new rack pricing solution is yet another example of this, and why we are happy to be a part of this alliance.”
The alliance with Schneider Electric leverages the company’s DTN FastRacks information to enhance EPIC’s wholesale price data component. DTN FastRacks is the fastest and most accurate rack price intelligence source available in the industry. The industry gold standard, DTN FastRacks allows suppliers and marketers to receive price alerts and detailed analysis of rack prices, providing a complete picture of the changing markets. It harnesses the full power of the Schneider Electric communications platform to generate daily and historical rack price intelligence, providing indexes for benchmarking and insight into what prices suppliers are posting at terminals across the U.S. and Canada.
About EPIC News+Data
EPIC is the fuel industry’s newest publisher and a price reporting agency that provides independent, accurate and verified retail and wholesale fuel pricing indexes, along with related news and information that users need to efficiently plan, execute and settle over $1.5 trillion in fuel transactions in the U.S. each year. EPIC covers the transportation fuels market with three publications, Fuel Marketer News, Commercial Fuel Buyer and Fuel Retailer Magazine. From a broad platform of content-rich websites, digital and print magazines, newsletters, educational webinars and meetings, EPIC publishes news and information from high-level market overviews down to the management and operational details around motor fuels purchasing. Through their EPIC Fuel Gauge platform, EPIC receives, scrubs and normalizes over 6.59 million price transactions monthly.
For more information, visit www.epicnewsdata.com.
About Schneider Electric
Schneider Electric is the global specialist in energy management and automation. With revenues of about $30 billion in fiscal year 2015, our 160,000+ employees serve customers in over 100 countries, helping them to manage their energy and process in ways that are safe, reliable, efficient and sustainable. From the simplest of switches to complex operational systems, our technology, software and services improve the way our customers manage and automate their operations. Our connected technologies reshape industries, transform cities and enrich lives. At Schneider Electric, we call this Life Is On.
For more information, visit www.schneider-electric.com.