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There are two kinds of people who work on climate solutions: Those who still believe in the promise of carbon markets, and those who think the whole concept is fundamentally flawed.
In the first category, you have people like McGee Young, the CEO of a company called WattCarbon. Young is aware of the ways carbon markets can be a race to the bottom — enabling companies to buy cheap certificates that say they used clean energy or reduced their carbon footprint, when in reality their purchase had little effect on the environment or the energy system.
And yet, there’s all this money out there for the taking! Companies want to green their image! Tackling climate change is expensive! There must be a way to funnel corporate sustainability budgets to where they can make a real impact!
To Young, the solution is a matter of better data and greater transparency. “We need a record-keeping system that allows us to raise the bar,” he told me.
Young launched his vision for that record-keeping system on Wednesday — the WattCarbon Energy Attribute Tracking System, or WEATS. It functions similarly to other environmental credit registries: Owners of clean energy assets can sign up to generate credits known as Environmental Attribute Certificates, or EACs, which buyers can then purchase to count toward their own clean energy or carbon goals.
WEATS has two main features that differentiate it. First, it will include credits from small-scale distributed energy resources like residential solar panels, batteries, and heat pumps — clean energy solutions that haven’t really been able to participate in carbon markets until now. Second, each EAC will include granular information about where and when the power was generated, in the case of solar, or the carbon savings incurred, in the case of heat pumps, down to the hour.
The first feature is part of what motivated Young to start WattCarbon. “The clean energy transition is more than just wind and solar, it’s more than just generation,” he told me. But it’s the second that Young said is key to improving the credibility of claims that companies are “using 100% clean energy,” or “achieving net-zero.”
Today, many companies simply buy enough clean energy credits to match their annual energy use, regardless of where or when the energy was generated. But researchers have shown that this strategy can have little to no impact on emissions. For example, if a company is only buying solar credits, but it is using energy at night, its carbon footprint from that nighttime energy could surpass any environmental benefits of the solar it bought.
To solve this, some energy buyers have embraced a concept called “24/7 carbon-free energy,” which means that “every kilowatt-hour of electricity consumption is met with carbon-free electricity sources, every hour of every day, everywhere,” in the words of a United Nations-led initiative to promote the concept. “It is both the end state of a fully decarbonized electricity system,” according to the UN, “and a transformative approach to energy procurement, supply, and policy design that is critical to accelerating its arrival.”
If you’ve followed the recent debate about the green hydrogen tax credit, you might be familiar with the idea. In December, the Treasury Department proposed that hydrogen producers will have to match their electricity consumption with the purchase of local clean electricity generation on an hourly basis to prove their hydrogen is clean enough to qualify for the full value of the tax credit. That means producers can either hook up directly to a solar farm or wind farm or geothermal power plant and operate only when it is generating power, or, it can buy renewable energy credits or EACs that correspond to the hours that it operates.
WattCarbon’s marketplace is one of the first to enable this by requiring sellers to include data about exactly where and when each EAC was produced. It also include the carbon intensity of the grid in the place and time when that unit of power was produced. For example, 1 megawatt-hour of solar power in West Virginia, where the grid is supplied by a lot of coal-fired power plants, would likely reduce emissions far more than 1 megawatt-hour of solar power in California, where the main fossil fuel burned for power is natural gas. Similarly, 1 megawatt-hour of solar generated in the afternoon in California will not do as much to reduce emissions as if that unit of power were stored in a battery and then dispatched at night. On other markets, all of these credits might simply be advertised as 1 megawatt-hour of solar power, and the buyer would be none the wiser.
So what does this new carbon trading marketplace look like in practice? There are a lot of possibilities, but here’s one scenario. WattCarbon partners with a company that helps homeowners electrify their heating or install and manage their solar and battery systems. That third party company can then say to their customers, “As an extra incentive to do this, we can help you sell the environmental benefits it provides to third parties through the WattCarbon marketplace,” and those extra payments are what convinces the homeowner to go for it.
Independent experts I spoke with were cautiously optimistic about what this new marketplace could do. “We need to deploy on the order of a billion machines, in the U.S. alone — and not over a century, but on the order of a decade,” said Kevin Kircher, an assistant professor of mechanical engineering at Purdue University, whose research focuses on heat pumps and other distributed energy resources. “So there’s a lot that needs to be done, and just connecting people to money to do the work is really important.”
Wilson Ricks, a PhD candidate at Princeton University whose research informed the Treasury’s proposal for the hydrogen tax credit, said that having a platform where hydrogen companies can procure clean energy from a variety of projects, and with time and location data, would be very useful. He was also intrigued by WattCarbon’s attempt to create EACs tied to batteries because energy storage systems are one of the few resources that can produce clean power when the wind isn’t blowing and the sun isn’t shining.
But both Ricks and Kircher warned there are a number of ways this system of credits could fall into the same traps that ensnare many carbon offset projects and reduce their credibility. For one, it’s really hard to get the math right. That’s especially true for a project like a heat pump, where the carbon savings are based on a counterfactual situation where the homeowner would have kept their gas heater. You have to basically estimate how often they would have run it, which opens the door to sloppiness at best and fraud at worst.
Another key criterion — a concept called additionality — is very hard to assess. Would the household that switches to a heat pump have done so regardless of whether they were getting extra revenue from selling EACs? If the answer is unequivocally yes, the credits are meaningless and serve to give corporate emitters an excuse to keep emitting.
Young acknowledged to me that this was likely going to be true in some cases, but still felt that heat pump owners deserved to be paid for the environmental benefits they were providing. “We provide environmental subsidies for large-scale wind and solar, and we don't do that for the things that we're putting into our buildings and our communities. And to me, there’s an inherent inequality in the way that we treat and value clean energy that needs to be addressed.”
That didn’t quite make sense to me — the government provides subsidies for all kinds of clean energy resources, including distributed energy resources, I countered. The Treasury will give you $2,000 for a heat pump and a 30% discount on rooftop solar.
“That’s true,” Young said. “But we don’t have enough money in all of our government programs to truly scale those.”
I couldn’t argue with that. But the real challenge is helping low-income homeowners with the upfront capital to install these devices — after-the-fact payments are not enough. Young said he had plans to create a way for companies to procure EACs in advance from groups of homeowners. The deals would be similar to the power purchase agreements that big electricity consumers like Google and Walmart make with large-scale renewable energy developers, helping to finance those projects by reducing the risk.
“This is a necessary but not sufficient step,” Young said of the version of the marketplace that launched Wednesday. “Without this, we can’t do that. But this by itself would be inadequate for the market to be able to reach its fullest potential.”
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September bills in competitive Republican-held districts have risen by a median of 21% between 2024 and 2026.
New Jersey’s 7th District is an odd place for an affordability fight.
The 15th wealthiest congressional district in the country, NJ-7 stretches from the tidal strait bordering New York’s Staten Island to the winding Delaware River state line with Pennsylvania. Between those two bodies of water, roughly a third of households earn more than $200,000 a year. The 7th Congressional District is also New Jersey’s “one rare and surprising swing district,” per Gothamist, and, as a result, it is also the spendiest on elections: the 2024 high-water mark of $26.3 million in campaign spending will likely be surpassed this year by incumbent Republican Tom Kean Jr. and Democrat Rebecca Bennett.
Needless to say, there are comparatively few constituents in NJ-7 for whom paying $40 more on a September electricity bill than two years ago — or about $300 more over the past 12 months — is the difference between whether they can afford groceries or not. But like many other Republican-held competitive seats this election year, the district has seen its electricity rates increase since just before President Donald Trump took office for his second term, according to the latest data available in Heatmap and MIT’s Electricity Price Hub.
In NJ-7, residents paid about 35% more on their electricity bills this September than two years ago; bills are up more than 18% over the past 12 months compared with the year before. Over that same time period, the Cook Political Report with Amy Walter moved Kean’s reelection race from “lean Republican” to “toss-up” to where it stands now: “lean Democrat.” NJ-7 is largely served by Jersey Central Power & Light and Public Service Electric and Gas Co, and, for both, increases in basic generation service charges — that is, what utilities charge for the production and supply of electricity — drove most of the spikes in bills.
“Kean Jr. voted to roll back commonsense energy tax credits and jack up electricity bills for New Jersey families,” the Democratic Congressional Campaign Committee wrote in a June memo, seizing on the opportunity. “Skyrocketing utility bills are a major issue in the Garden State, and Kean Jr. is part of the problem.” The National Republican Congressional Committee has defended Kean by pointing to his vote for the Ratepayer Protection Act (which passed the House last month only to fail in the Senate) and his record of opposing “Green New Deal policies” to “protect families from rising costs.”
The New Jersey race has more to it than electricity prices, of course; the 7th District election has drawn national attention, including involvement from Elon Musk and, at one time, President Trump. But if even a race in one of the country’s wealthiest districts has become a referendum on affordability to some extent, incumbent Republicans elsewhere are certainly feeling constituents’ ire, too. In the 42 closest races listed as “toss-up” or “leans” by the Cook Political Report, September bills in Republican-held districts have risen a median of 21% from 2024 to 2026, compared with just 13% for Democratic-held seats (and compared to 16% across all 435 House districts).
Comparing September bills is useful because it suggests how voters are perceiving utility costs as they prepare to submit their ballots. But September, being a shoulder season, can also vary in temperature in many parts of the country, meaning bills may be higher because of a late summer heat wave — or an early cold snap. Still, looking over the past 12 months, bills in competitive Republican-held districts have risen twice as fast as those in competitive Democrat-held seats (8% vs 4%). Overall, 22 of the 29 Republican-held House seats in active play this November are in places where electricity bills have risen more than 10% since Trump’s election.
Another race where affordability concerns and rising electricity bills seem to be intertwined is Pennsylvania’s 10th Congressional District, held by Republican and former House Freedom Caucus head Scott Perry. The typical September bill in PA-10 rose from about $126 to $202 in just two years, a 61% increase, according to the Electricity Price Hub. (The most recent data for the district are projections, because New York and Pennsylvania release their reports on a delay.) Among the utilities in PA-10, generation contributes the largest amount to average bills, with costs roughly doubling since 2020.
Pennsylvanians are feeling it: 57% of registered voters in PA-10 told a local pollster it is “very” or “somewhat” difficult to afford monthly utility costs, making it a bigger financial struggle than groceries, gas, rent, or health care.
Perry’s opponent, Janelle Stelson, has hammered him on affordability (including gas prices) while groups like the Natural Resources Defense Council have labeled Perry as a “rate raiser,” pointing to his coziness with the fossil fuel industry and his proud opposition to renewable energy development.
Perhaps nowhere are utility rates more central to a House race than in New York’s 17th Congressional District, where Republican incumbent Mike Lawler is in a “toss-up” race against Democrat Cait Conley. His constituents are paying about $50 more on a September electricity bill than they were before he was elected in 2024, while bills have risen more than 17%, or over $330, in the past 12 months compared with the year prior. (Across the utilities servicing NY-17 — as well as NY-19, another district where utility bills are a central talking point— the delivery portion of the bill tends to be the largest, though generation costs have also grown substantially over the past five years.)
While rising electricity bills have given Democrats an easy line of attack on vulnerable Republicans heading into the midterms, Congress admittedly doesn’t set utility rates and there are limited levers for elected officials to pull to keep them down in the short term. Heatmap’s data, rather, indicates the places where voters appear especially sensitive to rate increases and may be taking it out on their elected officials — although there are still caveats.
For example, the trends are also largely regional. Our data shows the steepest electricity increases among a cluster of seats in Pennsylvania, New York, New Jersey, and Ohio — many of them Republican seats in purple areas that Democrats would have targeted with or without the ammo of higher electricity prices. In other parts of the country, competitive races in California and Arizona have actually seen falling electricity bills.
Two can play the rate increase blame game, too. In New York’s 19th Congressional District, incumbent Democrat Josh Riley is running on lowering utility bills — as is his Republican opponent. (That race isn’t considered competitive by Cook, which puts Riley as the “likely” favorite.) In Ohio’s 9th Congressional District, a toss-up race where bills were about $40 higher in September of this year than in 2024, incumbent Democrat Marcy Kaptur and her allies are on the defensive and warn that her challenger, Derek Merrin, could jack them up even more.
Bills are up everywhere on average, and when you pull back, the influence on elections appears relatively small: the median competitive district’s bills rose 11.4% compared to the median bill for a safe seat, 10.3%, in January–September 2026 versus January–September 2024. The per-kilowatt-hour price of electricity (as distinct from household bills) rose slightly less in competitive races (8.2% median) than in safe seats (9.7% median). In some places feeling the squeeze on electricity bills, bigger issues are driving the election: Carol Obando-Derstine, a former utility employee who campaigned in Pennsylvania’s 7th District on lowering power bills, ultimately lost the Democratic primary to a candidate focused more on corruption and greed.
But in other districts, it won’t matter whether representatives have little control over electricity bills or whether rising prices are a national trend. “I’m working hard to keep my lights on,” one constituent says in a House Majority PAC ad that makes the case against the Republican, Lawler, in NY-17. “My bills keep going up.”
Current conditions: A new nor’easter is washing the ocean over North Carolina’s Highway 12 right as crews complete reconstruction on the Outer Banks thoroughfare following last month’s storm • After whipping Mexico’s Pacific Coast with heavy rains, Hurricane Trudy has weakened to a Category 1 storm • Super Typhoon Champi knocked out power for more than half of Guam before barreling toward the Philippines as a potential Category 5 storm.
Last week was the worst week for the tech-heavy Nasdaq 100 Index since President Donald Trump’s tariffs roiled the market in April 2025. The reason? Hotter than expected federal data on inflation fueled fears of an interest rate hike that could prove devastating to the buildout of artificial intelligence infrastructure. Investors were already worrying the physical investments would cost more than giants such as ChatGPT-maker OpenAI or Claude-creator Anthropic are set to earn. But on Monday, semiconductor makers such as Oracle, Intel, and Micron Technology rallied as the AI rout came to an end. Yet CoreWeave, the cloud-computing heavyweight that led the selloff last week, closed slightly lower. The issue, investors told CNBC, is the company’s debt load. “The market tends to get worried about companies that have refinance risk when rates are higher, and CoreWeave was a little bit of the poster child,” John Lloyd, global head of multi-sector and corporate credit at Janus Henderson, whose firm owns CoreWeave bonds due in 2031, told the broadcaster. “They need the debt markets in order to grow, in some form or fashion.” That CoreWeave came close to bouncing back at all comes down at least in part to Ark Investment Management chief Cathie Wood opting to buy about $12 million of shares in the company amid the market plunge last week, a play for which The Street notes she’s known. Notably, Oracle, which was previously dubbed the “canary in the coal mine” for concern over AI debt, closed just 1% higher before plunging in after-market trading.
Microsoft, meanwhile, pulled out a major data center deal in the United Kingdom to anchor Nscale Global Holdings’ debut facility in the country, located in Loughton on the outskirts of London. But The Wall Street Journal reported that power supply issues ultimately caused Microsoft to back out of the 50-megawatt project, highlighting how hyperscalers can throw a major data center complex into disarray even at a later stage in the development. Nscale’s upcoming $35 billion stock market debut rests, as The Information noted, on its ability to build data centers.
Amazon is backing a deal for another power plant built with X-energy’s next-generation reactors. On Monday, the high temperature gas-cooled reactor startup, in which Amazon took an equity stake two years ago, signed a joint development agreement with American Electric Power to evaluate a potential 960-megawatt project at a former coal site in Sullivan County, Indiana. In a press release, AEP CEO Bill Fehrman said Amazon’s support provided “all necessary capital protections and financial safeguards that we have said are essential for any potential nuclear project to move forward.” That’s a notable departure from the line many utilities executives share in private, which is that — absent some kind of federal cost overrun insurance — building new reactors will prove too difficult a sell to shareholders. It’s part of a string of nuclear deals for Indiana, which currently has no operating atomic power reactors in its borders. On Monday evening, AtkinsRealis, the developer behind Canada’s signature CANDU reactor technology that can run on raw uranium, announced a memorandum of understanding to build up to 6 gigawatts of the pressurized heavy water reactors in Indiana. The state and the utility Hoosier Energy are the counterparties to the agreement.
In Arkansas, meanwhile, Google unveiled a new “enhanced partnership” with utility giant Entergy to power the tech giant’s West Memphis campus. As part of the agreement, Google pledged to support solar, battery, and transmission investments in Arkansas that the companies said would deliver “at least $500 million in new savings for all customers.”
Secretary of Energy Chris Wright called out New York Governor Kathy Hochul for holding up a natural gas pipeline he said would lower heating prices for residents in the Northeast as early as winter of 2028. During an appearance Monday on the Fox Business Network, Wright touted his agency’s decision last week to award Williams Companies $42 million through the wartime Defense Production Act to speed up construction of the Constitution Pipeline. “We wanted to get this in by winter of 2027 but delays and still opposition from energy-subtraction Democrats has unfortunately slowed the effort,” Wright said. “The delay right now is the governor here in New York State. We’ve been talking with her. We hope she’ll go along with this. Maybe after the election, I think she will.” The governors of all six New England states, he said, “are all on board with it.”
In a statement to me, Hochul spokesperson Ken Lovett called the announcement “nothing more than a political ploy to divert attention from Trump’s tariffs and his reckless war in Iran that have not only failed to bring down prices as the president promised, but have dramatically driven up home energy costs and gas prices at the pump.” He added that, “while the president continues to obsess over blocking renewable energy projects in order to focus on gas, oil, and even coal, Governor Hochul is focused on driving an all-of-the-above energy strategy designed to keep the lights on and costs down for New Yorkers.”
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Albertans are the richest Canadians on average, thanks to the province’s oil and gas industry. They’re also — after the Quebecois, of course — among the Canadians with the strongest claim to a distinct identity from the national Anglo norm, often drawing comparisons to Texans within the U.S. Monday offered the biggest test yet of just how differently Alberta sees itself. Turns out whatever regional resentments Albertans may have against Ottawa after a decade of Liberal Party rule that frequently sought to restrict the oil and gas sector hasn’t been enough to merit secession. Voters overwhelmingly rejected a nonbinding referendum calling for a real vote on whether to split away from Canada and establish an independent Alberta. At least part of the reason may be that Prime Minister Mark Carney has put a new focus on beefing up Canada’s domestic energy industries in a bid to increase exports and make the country less reliant on an increasingly aggressive U.S. That includes building new pipelines. But a new analysis by Reuters warns that a successful infrastructure buildout won’t lead to another jobs boom in oil. Much of the growth in oil sands output, instead, “is likely to come from automation and efficiency gains rather than large-scale hiring,” the newswire reported, citing industry forecasts and nearly a dozen interviews with company officials, workers, politicians, and academics. Carney admitted as much when asked by the reporter during a visit to Alberta’s Fort McMurray this month: “I wouldn't use the term ‘boom.’ I would use ‘sustained growth.’”
Europe, meanwhile, is trying to keep its own populist blowback to rising prices contained. Right as violent protests over cost of living spread from France to Italy, the Italian government has struck a deal with the European Commission that Prime Minister Giorgia Meloni expects to slash household energy bills ahead of next year’s elections. Under the agreement, according to the Financial Times, Italy will be allowed to compensate gas-fired generators to keep wholesale electricity prices from rising above €59 per megawatt-hour, roughly $66. The European Union’s market rules require that the last and most expensive source of electricity tapped to meet demand serves as the wholesale price. But the EU’s executive chamber allowed for Italy to ease its rules after prices surged 45% higher than in nuclear-powered France and renewables-rich Spain last month.
China’s exports of solar panels fell 6.4% last month compared to the same period last year, according to Reuters. That marks the fifth straight year-on-year decline in 2026. It’s a sign that China is cracking down on its glut in solar manufacturing. But Beijing isn’t looking to lose its edge over the fastest growing electricity source in the world. Last week, Bloomberg reported that China had added 12 pieces of solar-related manufacturing equipment to its list of items restricted from export. That could make it much more difficult for U.S. manufacturers comply to stand up factories given the Trump administration’s 232 import restrictions on Chinese solar equipment, which take effect later this year. The results of the Department of Commerce’s Section 232 investigation into polysilicon, which my colleague Emily Pontecorvo and I covered here, are meant to be the Trump administration’s lifeline to solar manufacturers who lost a key incentive when federal tax credits expired, ending a bonus program for developers that use domestically-made panels.
One area where China has appeared to be gaining an edge — green hydrogen production — may still remain a competitive industry for Western manufacturers. Chinese electrolyzers, the machines needed to separate the H from H2O with electricity, cost less than half of those made outside the country, according to data from the International Energy Agency. But trade levies erase much of that advantage, ultimately reducing capital expenditures by only 8% for European projects using Chinese equipment, Hydrogen Insight reported.
Call it mine-to-battery manufacturing. As demand for batteries booked, Ivanhoe Electric had planned to differentiate itself by taking a fully integrated, farm-to-table approach, owning and operating its own copper mine, refining the metal, and ultimately turning that copper into cathodes for batteries all at its same site in Arizona. Now, however, there’s an even bigger sector demanding copper: Data centers. New data center projects are driving so much demand for copper that the company is considering selling its copper to buyers other than itself, Bloomberg reported.
The company simplifies the process of getting consistent, apples-to-apples bids.
With commercial electricity prices steadily climbing, many businesses and real estate owners are increasingly eager to generate and store their own power onsite, cutting their bills and making costs more predictable. But figuring out whether solar and storage can actually pencil out — and under what conditions — can be a nightmare. Ask a handful of developers for a quote and you might get a rooftop solar array from one, a ground-mounted solar and battery system from another, and a gas turbine from a third, each with its own size, price, and financing terms.
That leaves buyers comparing apples to oranges. And for businesses evaluating a portfolio of potential projects, the process gets even messier. “These are very local-centric systems. Different interconnection requirements, different permits, different suppliers,” Gareth Evans, CEO of the onsite energy planning and procurement startup Veckta, told me. “There are hundreds of solar developers in every state.” The hard part, he added, is “knowing what supplier to go with, how to ask them the right questions in the right language, in the right format, so that you’re getting consistent bids back that you can compare and contrast.”
That’s the tension San Diego-based Veckta has built its business around. And on Tuesday, the startup announced an oversubscribed $11 million Series A to scale its solution. Origin Ventures led the round, with participation from others including the climate-focused investor VoLo Earth Ventures, which led Veckta’s $3.3 million pre-seed round in 2022.
The company starts with a single input: a property address. Veckta’s software analyzes over 5,000 data points, including utility rates, grid emissions, outage risk, local equipment and construction costs, and available incentives to assess — in under a minute — whether an onsite energy project makes financial sense. That helps buyers define their needs, from system size and installation type to contract terms, and ensures that potential suppliers are bidding on the same requirements. The result is a set of comparable proposals, without the upfront cost of hiring a consultant or supply chain expert.
Veckta’s platform includes more than 3,000 vetted suppliers. As bids come in, the startup automatically compares them based on factors including the supplier’s track record, warranties, equipment offerings, compliance with foreign entity of concern requirements, and ability to leverage federal and local incentives. From there, Veckta makes its recommendations. “Supplier A is your best option if you want U.S.-made equipment with the longest warranty, best guarantee, and they’ve done these projects before,” Evans explained, by way of example. “Supplier B is disqualified because they’ve never done a project in your state.”
Out of the roughly 34,000 customer sites Veckta has analyzed, Evans said 37% would see positive returns today by installing solar panels, battery storage systems, or both. That translates to $3.1 billion in potential project value, concentrated largely in markets with high electricity rates such as the Northeast and California, and among businesses facing steep peak-demand charges. But as utility rates continue to rise and installation costs fall, he expects onsite power to become cost-competitive with the grid at “almost 100%” of sites within five years. The startup estimates that would unlock a whopping $12 billion in potential project value.
Veckta wouldn’t capture all that itself, of course. Rather, it generates revenue in two ways: buyers pay an upfront platform fee, and the winning supplier pays a success fee once a contract is signed. Evans told me the startup has been net profitable for the past year, though he would not share specifics. So far in 2026, customers have signed contracts for onsite energy projects at 128 sites. These typically range from 250 kilowatts for businesses like car dealerships and retail stores to 10 megawatts or more for manufacturing facilities, warehouses, or cold storage facilities. “That ranges from Fortune 500s right down to your individual business owner,” Evans told me.
With this latest raise, Veckta plans to expand its supplier network and grow its sales, marketing, and customer support teams. It also wants to help customers capture additional revenue streams from their onsite energy systems, such as by connecting them with demand-response programs, using batteries to provide grid services like frequency regulation, and selling renewable energy credits.
Named customers include rental car company Enterprise Mobility, real estate investment trust Regency Centers, and auto dealership group Lithia & Driveway. About 80% of the projects the platform facilitates today involve rooftop solar paired with batteries, but the company has begun to branch out.
“We’ve done waste-heat-to-energy, we’ve done EV chargers, done backup generators, and then the latest is, we’ve just finished our first pilot on roof replacements,” Evans told me. “We are firm believers that for any complex purchase that is a non-commodity that you can’t just buy off the shelf, we are best placed to help our customers competitively source those deals.”