UK-based energy company npower has launched a new service, Risk Navigator, to give businesses detailed and timely market data to support more informed energy buying decisions.

According to the company, Risk Navigator, the new web-based service, gives easy access to market news as it breaks, monitors wholesale price movement at any time of the day, and provides up-to-date detail on customers’ own hedging positions. It is available at no additional cost to new and existing npower customers purchasing in flexible arrangements.

Risk Navigator has been developed in the analyst, manager and professional levels, each offering market conditions and commodity prices, and details of their energy buying history.

Douglas McLeish, npower’s corporate markets director, said: Energy is one of the most volatile costs for businesses, so there is a potentially huge amount of value at stake through the timing of purchasing decisions. With Risk Navigator, we are helping businesses to better manage energy risk by giving quick and easy access to accurate, up-to-the-minute data, eliminating the guess work they sometimes face when buying energy.

npower, part of the RWE Group, is an integrated energy company.  The company supplies gas and electricity through retail business, npower and operate and manage a portfolio of low-cost coal, oil and gas-fired power stations.