Isfahan Oil Refinery has significantly reduced its electricity supply costs by changing its financial management approach and entering the mechanism of purchasing electricity from the energy exchange. Mehdi Setarimanesh, the Head of Public Engineering at the refinery, announced that this change in approach has led to monthly savings of between 30 to 40 billion tomans.
Details of Savings and Their Results
If this level of savings continues, it will amount to approximately 360 to 480 billion tomans annually. Setarimanesh emphasized that this achievement is the result of changes in financial management practices and utilizing existing capacities in the energy market, and no new investments have been made to implement it. According to him, this action has led to a reduction of over 30% in electricity purchasing costs.
Utilizing Legal Capacities and Existing Mechanisms
Setarimanesh pointed out that this plan is based on utilizing legal capacities and the resolutions of the Parliament and government in the field of energy imbalance management, stating: "Isfahan Refinery has changed its electricity supply method by entering the basic electricity and green electricity purchasing mechanisms from the energy exchange, thereby managing to reduce its electricity purchasing costs." This action is an example of utilizing energy market capacities to manage the costs of a large industrial entity.
According to the Head of Public Engineering at the refinery, instead of implementing a capital-intensive project to reduce energy costs, legal capacities and the specialized skills of employees have been used to reform the electricity supply process. This change in the method of electricity supply and purchasing has led to cost reductions and increased efficiency.
Economic and Managerial Consequences
Setarimanesh assessed this action as part of Isfahan Refinery's policies to reduce operational costs, increase efficiency, and optimally manage energy resources. This plan could serve as an example of the intelligent use of legal capacities and the specialized skills of employees for cost management in refining companies.
The change in the method of electricity supply and purchasing at Isfahan Oil Refinery has been implemented without the need for new investments and by relying on legal capacities and the energy exchange. This initiative has not only contributed to cost reductions but can also serve as a model for other refineries and industries in the country.
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