Wells Offers Electricity Price Hedging, Finances REC Purchases
Wells Fargo & Company will offer electricity price hedging to middle market companies to help them manage their power costs.
The hedging program – believed to be the first offered by a major U.S. bank to middle market companies – can benefit companies spending at least $1 million annually on electricity and also help them purchase environmental management products, including renewable energy credits, to reduce their carbon footprint and offset greenhouse gas emissions, according to Wells.
As part of the program’s offerings, companies looking for ways to go “green” can purchase renewable energy credits, with financing from Wells Fargo.
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