Three questions you should be asking right now

1. How do we balance budget pressures and risk mitigation amid such uncertainty? What margins should we build into energy purchasing budgets to properly address the risks of volatile energy markets, energy project implementation delays & cost inflation? Given supply chain constraints, inflation, and regulatory/process delays, how can we best navigate our corporate budgets and forecasts? It is critical to maintain credibility with colleagues, not burden businesses with bloated budget forecasts all while managing expectations. 
2. Are there purchasing opportunities that can help us to meet cost and sustainability goals in the medium term? Can new power purchase agreements (PPAs), offsite renewables, or storage contracts be structured to capture the remaining window of federal tax credits? What are the qualification deadlines? Are there opportunities to take advantage of policy incentives and new technologies at the state or local level? New York State is prioritizing funding for storage resources, for example. Since storage is being incentivized and procured, pairing renewables with storage can unlock value (e.g. participation in demand response, peak shaving, avoiding market volatility). What other opportunities do market movements present to us? How can we take advantage of them> 
3. How do we make the most of our supply/demand profile given all these market pressures? What is the opportunity cost of inaction? Missing out on early procured clean power may mean higher cost in the future or reputational risk for sustainability goals (ESG, carbon neutrality, etc.). Power and gas markets move dramatically, sometimes one day to the next. It is imperative to be prepared to make the most of those movements.

Have actionable, reliable information ready and your strategy set. That way you can manage to your budget targets (see #1, above). Also, rate designs are likely to evolve as utilities adapt to the changing landscape. Understanding how your load profile aligns with rate design and market dynamics can present cost management opportunities.

Bottomline for energy and finance professionals: This can be a frustrating time to be an energy professional. Remember, you can’t control the market, but you can set your strategy and adapt. Managing uncertainty isn’t about predicting every change—it’s about building the flexibility to adapt when it comes.