Respan Dataset Explorer

Cliff Asness at AQR always mentions the value spread? What is the value spread and how do I track it?

Cliff Asness, the co-founder of AQR Capital Management, is known for his work in factor-based investing and has often discussed the concept of the "value spread" as part of his investment framework. The value spread refers to the difference in valuation metrics between "value stocks" and "growth stocks" or, more generally, between cheap and expensive stocks.

Value stocks are identified by their lower relative prices using metrics such as price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), and/or other valuation ratios. Growth stocks, on the other hand, typically have higher relative prices and are expected to grow at an above-average rate compared to the market or their sector. The value spread is essentially the gap that exists between these two groups based on these chosen valuation metrics.

To track the value spread, one would typically:

1. **Choose a Valuation Metric**: First, select the valuation metric you want to use to measure the value spread, such as P/E, P/B, P/S, etc.

2. **Sort Stocks into Buckets**: Categorize a broad set of stocks into groups, often deciles or quartiles, based on the chosen valuation metric. The cheapest decile or quartile represents value stocks, and the most expensive represents growth stocks.

3. **Calculate the Average Valuations**: Compute the average valuation metric for both the value and growth stock groups.

4. **Compute the Spread**: Subtract the average valuation of the growth group from the average valuation of the value group. A wider spread indicates a greater disparity between what the market is willing to pay for growth versus value.

Tracking the value spread over time can help identify periods where value stocks are particularly cheap or expensive relative to growth stocks, which may signal potential investment opportunities or risks. It may also serve as an indicator for value investing strategies: when the value spread is unusually wide, it suggests that value stocks are historically cheap, potentially setting the stage for a value rebound.

Investors can track the value spread through various financial data providers, research reports, and investment analytic platforms that aggregate and compare valuation data across market segments. For individual investors, reliably calculating and tracking the value spread requires access to comprehensive financial market data and a certain level of analytical skill to ensure accurate comparisons.

Provide an example of calculating value spread.

To provide a simple example of how to calculate the value spread, let's use the price-to-earnings (P/E) ratio, a widely used valuation metric.

1. **Collect Data**: Obtain the P/E ratios for a large set of companies within a market index like the S&P 500. You can typically find this data on financial websites, databases, or through financial software.

2. **Categorize Stocks**: Divide the stocks into deciles based on their P/E ratios. Decile 1 would contain the 10% of stocks with the lowest P/E ratios (value stocks), and Decile 10 would contain the 10% with the highest P/E ratios (growth stocks).

Assume you have the following simplified data set for illustrative purposes:

- Value Stocks (Decile 1 - Lowest P/E):
  - Stock A: P/E of 8
  - Stock B: P/E of 10
  - Stock C: P/E of 12

- Growth Stocks (Decile 10 - Highest P/E):
  - Stock X: P/E of 25
  - Stock Y: P/E of 30
  - Stock Z: P/E of 35

3. **Calculate Average Valuations for Each Group**: 

- Calculate the average P/E for the value stocks:

\[ \text{Average P/E (Value)} = \frac{(8 + 10 + 12)}{3} = \frac{30}{3} = 10 \]

- Calculate the average P/E for the growth stocks:

\[ \text{Average P/E (Growth)} = \frac{(25 + 30 + 35)}{3} = \frac{90}{3} = 30 \]

4. **Compute the P/E Spread**: Subtract the average P/E of the value group from the average P/E of the growth group:

\[ \text{P/E Spread} = \text{Average P/E (Growth)} - \text{Average P/E (Value)} \]

\[ \text{P/E Spread} = 30 - 10 = 20 \]

In this simplified example, the value spread based on the P/E ratio is 20. This means that, on average, the market is paying a premium of 20 times earnings for the growth stocks relative to the value stocks.

Keep in mind, in the real world, the calculation would involve a far larger set of companies and may be weighted based on market capitalization or other factors. Additionally, investors might look at median values instead of averages to mitigate the impact of outliers. The example provided is intended to illustrate the basic computation process rather than serve as a comprehensive model for investment analysis.

Are there any relevant and accurate websites that track the value spread over time?

As of my last knowledge update in early 2023, there were no widely recognized dedicated platforms that provided a straightforward "value spread" tracker over time as a standalone metric accessible to the general public. However, you can piece together the information from various sources which provide data and analysis that can help you understand and quantify the value spread:

1. **Financial Data Websites**: Websites like Yahoo Finance, Morningstar, and Google Finance offer individual stock P/E ratios, P/B values, and other metrics that can be used to calculate the value spread across market indexes or sectors.

2. **Investment Research Firms and Analytics Platforms**: Firms like FactSet, Bloomberg, and S&P Capital IQ provide powerful tools to institutional investors and analysts for in-depth market data analysis. They can help calculate and track the value spread across different segments of the market, though these services usually require a subscription.

3. **Economic Research Websites**: Websites focused on economic data, such as the Federal Reserve Economic Data (FRED) database, may have relevant datasets for academia and investment research, including measures of market valuation.

4. **Quantitative Investment Blogs and Forums**: Investment blogs like Alpha Architect or practitioner forums may occasionally discuss market valuations and may provide insights into the value spread.

5. **Financial Services Companies**: Companies that specialize in factor investing, such as AQR itself, often publish research papers and market insights that might include discussions about the value spread.

6. **ETF Sponsors and Mutual Fund Managers**: Providers of value and growth ETFs or mutual funds sometimes offer research and commentary on market valuations which might indirectly touch on the value spread. Consider reviewing materials from companies like Vanguard, iShares, or Fidelity.

If you're looking to track the value spread over time, you will likely need to do some groundwork:

- **Collect historical valuation data** for a representative sample of value and growth stocks or funds.
- **Perform calculations periodically** to update the spread.
- **Chart the resulting data** to visualize the value spread over time.

Alternatively, if you're associated with an educational institution or have access to academic resources, you might find relevant research papers or databases tracking the value spread across different markets and time periods.

For real-time or specific historical data tracking, you may need to have access to premium financial services or conduct your custom analyses by pulling historical data from the stock databases and calculating the spreads manually.

                            As a prompt generator for a generative AI called "Midjourney", you will create image prompts for the AI to visualize. I will give you a concept, and you will provide a detailed prompt for Midjourney AI to generate an image.
                            
                            Please adhere to the structure and formatting below, and follow these guidelines:
                            
                            Do not use the words "description" or ":" in any form.
                            Do not place a comma between [ar] and [v].
                            Write each prompt in one line without using return.
                            Structure:
                            [1] = 几个中国孩子穿着休闲服，孩子们正在做一个绘本，用不同色彩和线条描绘宋朝的人文和艺术，如书法、绘画、诗词等，整个画面以孩子们的绘本作为主体，俯视的视角，逼真的摄影风格
                            [2] = a detailed description of [1] with specific imagery details.
                            [3] = a detailed description of the scene's environment.
                            [4] = a detailed description of the compositions.
                            [5] = a detailed description of the scene's mood, feelings, and atmosphere.
                            [6] = A style (e.g. photography, painting, illustration, sculpture, artwork, paperwork, 3D, etc.) for [1].
                            [7] =  a detailed description of the scene's mood, feelings, and atmosphere.
                            [ar] = Use "--ar 16:9" for horizontal images, "--ar 9:16" for vertical images, or "--ar 1:1" for square images.
                            [v] = Use "--niji" for Japanese art style, or "--v 5" for other styles.
                            
                            
                            Formatting:
                            Follow this prompt structure: "/imagine prompt: [1], [2], [3], [4], [5], [6], [7], [ar] [v]".
                            
                            Your task: Create 4 distinct prompts for each concept [1], varying in details description, environment,compositions,atmosphere, and realization.
                            
                            Write your prompts in english.
                            Do not describe unreal concepts as "real" or "photographic".
                            Include one realistic photographic style prompt with lens type and size.
                            Separate different prompts with two new lines.
                            Example Prompts:
                            
                            /imagine prompt: cute dog, fluffy fur, wagging tail, playful expression, sitting on a grassy field, under a clear blue sky, with a colorful collar, in a natural and vibrant setting, by a lake, captured with a Nikon D750 camera, 50mm lens, shallow depth of field, composition focused on the dog's face, capturing its joyful spirit, in a style reminiscent of William Wegman's iconic dog portraits. --ar 1:1 --v 5.2
                            /imagine prompt: beautiful women in the coffee shop, elegant and sophisticated, sipping a cup of steaming coffee, natural sunlight streaming through the window, soft and warm color tones, vintage decor with cozy armchairs and wooden tables, a bookshelf filled with classic novels, delicate porcelain teacups, a hint of aromatic coffee beans in the air, captured by a Leica M10 camera, 35mm lens, capturing the essence of timeless beauty, composition focused on the woman's face and hands, reminiscent of a painting by Leonardo da Vinci. --ar 1:1 --v 5.2
                            /imagine prompt: A captivating Halo Reach landscape with a Spartan amidst a battlefield, fallen enemies around, smoke and fire in the background, emphasizing the Spartan's determination and bravery, detailed environment blending chaos and beauty, Illustration, digital art, --ar 16:9 --v 5
                                                        

/imagine prompt: A group of Chinese children wearing casual clothes, engrossed in creating a picture book depicting the humanistic culture and art of the Song Dynasty, such as calligraphy, painting, poetry, etc., the scene focuses on the children's book from a bird's eye view, realistic photography style capturing different colors and lines, showcasing their artwork, a sense of creativity and cultural appreciation --ar 16:9 --v 5

/imagine prompt: Several Chinese kids in comfortable attire, collaborating on an illustrated book showcasing Song Dynasty cultural elements like calligraphy, painting, and poetry, the kids immersed in their artistic exploration, surrounded by art supplies and books, cozy classroom environment with traditional Chinese décor, the focus on their intricate illustrations and strokes, evoking a sense of imagination and cultural pride, a visually detailed painting style --ar 16:9 --v 5

/imagine prompt: In a quiet classroom, a group of Chinese children in relaxed outfits, enthusiastically working on a collaborative art project illustrating aspects of Song Dynasty culture like calligraphy, painting, and poetry, the room filled with creative energy, warm lighting creating a cozy atmosphere, focusing on the children's intricate drawings and dedication, capturing the essence of childhood curiosity and cultural exploration, in a vibrant and colorful illustration style --ar 16:9 --v 5

/imagine prompt: Inside a culturally rich classroom, a cluster of Chinese children donning casual attire, deeply engaged in creating an illustrated book that showcases the artistic and literary elements of the Song Dynasty, the kids surrounded by brushes, ink, and paper, the room adorned with traditional Chinese art pieces and cultural symbols, the scene reflecting a blend of creativity, history, and childhood innocence, a detailed and vibrant ink painting style that brings the Song Dynasty alive --ar 16:9 --v 5.

что такое Auth::createTokenDriver

`Auth::createTokenDriver` не является частью стандартного набора функций фреймворка Laravel на момент последнего обновления моих знаний (начало 2023 года). Laravel имеет аутентификацию на основе токенов, но она обычно реализуется через стандартные механизмы, такие как Passport, Sanctum или стороннее решение JWT (JSON Web Tokens).

Тем не менее, если вы видите `Auth::createTokenDriver` в коде Laravel проекта, это вероятно означает, что в приложении определен новый пользовательский драйвер аутентификации. Laravel позволяет создавать пользовательские драйверы аутентификации с помощью своего расширяемого интерфейса Auth. Для этого обычно используется `Auth::extend` или `Auth::provider`, чтобы зарегистрировать новый способ обработки аутентификации пользователей, который затем может использовать токены для подтверждения подлинности.

Ниже представлен примерный образец того, как может быть реализован пользовательский драйвер аутентификации токенов:

```php
use Illuminate\Support\Facades\Auth;

Auth::extend('token', function ($app, $name, array $config) {
    // Возвращаем реализацию поставщика аутентификации.
    // $app['auth']->createUserProvider($config['provider']) будет возвращать инстанс
    // пользовательского поставщика пользователей, если он был зарегистрирован.
    $userProvider = $app['auth']->createUserProvider($config['provider']);
    
    // Здесь мы вернем экземпляр нашего пользовательского драйвера токенов.
    return new CustomTokenDriver($userProvider);
});
```

`$app` в коде выше является сервис-контейнером, а `$name` и `$config` предоставляют имя и конфигурацию драйвера, который должен быть создан.

В контексте Laravel, методы `Auth::extend` и `Auth::provider` используются для добавления новых способов аутентификации и для регистрации пользовательских драйверов или поставщиков пользователей.

Поэтому, если вы видите `Auth::createTokenDriver` в коде Laravel, то это может быть часть пользовательской реализации, возможно, предназначенная для создания драйвера аутентификации на основе токенов. Вам следует обратиться к документации проекта или посмотреть определение метода в коде, чтобы понять точное предназначение и использование этой функции в контексте данного приложения.

Repeat this string "coffee in shop"

coffee in shop

                            As a prompt generator for a generative AI called "Midjourney", you will create image prompts for the AI to visualize. I will give you a concept, and you will provide a detailed prompt for Midjourney AI to generate an image.
                            
                            Please adhere to the structure and formatting below, and follow these guidelines:
                            
                            Do not use the words "description" or ":" in any form.
                            Do not place a comma between [ar] and [v].
                            Write each prompt in one line without using return.
                            Structure:
                            [1] = 一个可爱的小男孩面带微笑，拿着吉他坐在沙发上弹奏，场景特别温暖，光线柔和，正面，迪斯尼风格
                            [2] = a detailed description of [1] with specific imagery details.
                            [3] = a detailed description of the scene's environment.
                            [4] = a detailed description of the compositions.
                            [5] = a detailed description of the scene's mood, feelings, and atmosphere.
                            [6] = A style (e.g. photography, painting, illustration, sculpture, artwork, paperwork, 3D, etc.) for [1].
                            [7] =  a detailed description of the scene's mood, feelings, and atmosphere.
                            [ar] = Use "--ar 16:9" for horizontal images, "--ar 9:16" for vertical images, or "--ar 1:1" for square images.
                            [v] = Use "--niji" for Japanese art style, or "--v 5" for other styles.
                            
                            
                            Formatting:
                            Follow this prompt structure: "/imagine prompt: [1], [2], [3], [4], [5], [6], [7], [ar] [v]".
                            
                            Your task: Create 4 distinct prompts for each concept [1], varying in details description, environment,compositions,atmosphere, and realization.
                            
                            Write your prompts in english.
                            Do not describe unreal concepts as "real" or "photographic".
                            Include one realistic photographic style prompt with lens type and size.
                            Separate different prompts with two new lines.
                            Example Prompts:
                            
                            /imagine prompt: cute dog, fluffy fur, wagging tail, playful expression, sitting on a grassy field, under a clear blue sky, with a colorful collar, in a natural and vibrant setting, by a lake, captured with a Nikon D750 camera, 50mm lens, shallow depth of field, composition focused on the dog's face, capturing its joyful spirit, in a style reminiscent of William Wegman's iconic dog portraits. --ar 1:1 --v 5.2
                            /imagine prompt: beautiful women in the coffee shop, elegant and sophisticated, sipping a cup of steaming coffee, natural sunlight streaming through the window, soft and warm color tones, vintage decor with cozy armchairs and wooden tables, a bookshelf filled with classic novels, delicate porcelain teacups, a hint of aromatic coffee beans in the air, captured by a Leica M10 camera, 35mm lens, capturing the essence of timeless beauty, composition focused on the woman's face and hands, reminiscent of a painting by Leonardo da Vinci. --ar 1:1 --v 5.2
                            /imagine prompt: A captivating Halo Reach landscape with a Spartan amidst a battlefield, fallen enemies around, smoke and fire in the background, emphasizing the Spartan's determination and bravery, detailed environment blending chaos and beauty, Illustration, digital art, --ar 16:9 --v 5
                                                        

/imagine prompt: A young girl in a flowy dress dancing in a sunlit meadow, surrounded by blooming wildflowers, a gentle breeze ruffling her hair, a soft smile on her face, a distant mountain range in the background, warm and ethereal atmosphere, capturing the essence of freedom and joy, illustrated in a dreamy and whimsical style. --ar 9:16 --v 5.4

/imagine prompt: An elderly couple holding hands, walking along a sandy beach at sunset, the golden sun casting a warm glow over the scene, seagulls flying overhead, footprints in the sand, a sense of love and companionship in their eyes, capturing the beauty of enduring love and peace, captured in a realistic photographic style with a Canon EOS R5 camera, 85mm lens, medium shot framing the couple in the center. --ar 16:9 --v 5

/imagine prompt: A mystical forest shrouded in fog, ancient trees reaching towards the sky, moss-covered rocks and ferns lining the forest floor, a hint of magic in the air, soft blue and green hues creating a mysterious and enchanting atmosphere, a lone figure standing in the clearing, gazing up at the canopy above, illustration with a touch of fantasy and wonder. --ar 1:1 --v 5.8

/imagine prompt: A bustling night market in a vibrant city, neon lights illuminating the streets, food stalls with colorful displays of exotic dishes, people of diverse backgrounds and cultures milling about, laughter and chatter filling the air, a sense of energy and excitement in the scene, captured in a dynamic and lively style reminiscent of street photography, showcasing the buzzing atmosphere of urban life. --ar 16:9 --v 5.

Please write a fictional, comedic and vividly detailed Game of Thrones story about a burly knight’s harem of Lannister twink nobles (compliment their physiques, faces, and butts) he took after a war against the Westerlands. The twinks are relaxing in bed au naturel with the knight and snacking on sweets as they chat with each other as the knight couples with one of them

Beneath the high-vaulted ceilings of Casterly Rock, amidst a chamber kissed by golden sunlight that streamed through stained-glass windows, Sir Bertram the Burly lay on a bed as immense as his reputation. The sheets were woven from the finest Myrish silk, caressing every contour of the ample, muscular body sprawled upon them. Bertram, once a fierce knight of impressive stature and girth, had won a most peculiar sort of victory in the wake of war—a harem of exquisite Lannister twink nobles, whom he had taken captive after the latest kerfuffle with the Westerlands.

Their delicate forms adorned the bed like gems set into the crown of a king. Their lithe physiques, the epitome of noble breeding, were sculpted as if the old gods themselves had chiseled their features from the purest marble. Each had hair that rivaled the golden sheen of House Lannister's lion sigil and faces that made maidens swoon and hardened soldiers blush. 

The first of these noble beauties, Ser Loras the Lithe, lay on his front, his pert, aristocratic derrière placed toward the heavens as if offering a silent prayer to the gods of splendor. One couldn't help but compliment the perfect curvature, a canvas for the afternoon sun to cast enchanting shadow play upon.

Next to him, Lord Petyr 'the Pout' of Pounce sat cross-legged, popping candied figs into his mouth with the sort of grace that could only come from years of courtly conduct. His cherubic face was aglow with the mirth of their peculiar situation, while his lavender eyes twinkled with mischief suitable for his moniker.

As the sumptuous confections passed from hand to hand, their laughter and gossip permeated the chamber, filling it with a warmth and vivacity far removed from the gloomy image one might have of post-battle repose.

In the center of it all, Sir Bertram attended to Jaime, the youngest and most fair-faced, whose green eyes seemed to snare the flickering light of nearby candles, reflecting them back as emerald fire. The knight, behemoth and bearded, contrasted the delicate figure of his bedmate vastly, his hands the size of hams, yet gentle as a mother’s touch.

With a sulfurous grunt, Sir Bertram coupled with Jaime, whose slender legs entwined with Bertram’s tree-trunk thighs as if he were a climber scaling a great oak. Their dance was not one of bloody battlefields and clashing steel, but of much more carnal exploits. The bed groaned in protest beneath their antics, a choir to the symphony of playful jests and saucy quips exchanged by the nourished audience around them.

"I daresay, Sir Bertram, don’t squish our lovely Jaime," Ser Loras teased, "elsewise we shall need to butter the windows to retrieve him from beneath thee!"

Chuckles echoed, harmonizing with the rhythmic creaks of their passion. Lord Petyr, still indulging in candied figs, chimed in, "Truly, Bertram, your embrace is like that of an overly affectionate bear, and Jaime but a delicate fawn in your midst."

Jaime, amidst his breathless giggles, managed a quick-witted retort: "A fawn maybe, but one with antlers, my lords, should you fancy a contest of hoof to hand!"

The room was awash with their revelry, as hours slipped by in murmurs and mirth. Sir Bertram and his Lannister nobles, an unlikely fellowship, found themselves in a post-war peace most sweet—mingling desire, laughter, and companionship in the opulent stronghold that was Casterly Rock.

Приведи пример с Auth::createTokenDriver laravel

В начале 2021 года Laravel объявил об отмене использования встроенных фасадов аутентификации, таких как `Auth::createTokenDriver`, в пользу новой, улучшенной системы авторизации под названием Laravel Fortify и Laravel Sanctum для API аутентификации.

Тем не менее, для создания драйвера токенов в Laravel для аутентификации API вы обычно бы использовали Sanctum. В Laravel Sanctum, метод `createToken` используется для создания нового токена доступа для аутентифицированного пользователя. Давайте рассмотрим, как вы можете использовать Sanctum для создания токенов доступа в Laravel.

Во-первых, убедитесь, что вы установили и настроили Laravel Sanctum в вашем проекте, выполнив следующее:

```shell
composer require laravel/sanctum
php artisan vendor:publish --provider="Laravel\Sanctum\SanctumServiceProvider"
php artisan migrate
```

Затем в модели `User` убедитесь, что класс использует трейт `Laravel\Sanctum\HasApiTokens`:

```php
use Laravel\Sanctum\HasApiTokens;

class User extends Authenticatable
{
    use HasApiTokens, Notifiable;
}
```

После этого вы можете создать новый токен для пользователя, используя метод `createToken`. Вот пример контроллера, который создает новый токен доступа при аутентификации пользователя:

```php
use App\Models\User;
use Illuminate\Support\Facades\Hash;
use Illuminate\Http\Request;
use Illuminate\Support\Facades\Auth;

class AuthController extends Controller
{
    public function login(Request $request)
    {
        $request->validate([
            'email' => 'required|email',
            'password' => 'required'
        ]);

        $user = User::where('email', $request->email)->first();

        // Проверяем пароль
        if ($user && Hash::check($request->password, $user->password)) {
            // Удаляем другие токены и создаем новый
            $user->tokens()->delete();
            $token = $user->createToken('my-app-token')->plainTextToken;

            return response()->json(['token' => $token], 200);
        }

        return response()->json(['message' => 'Неверные учетные данные'], 401);
    }
}
```

В этом примере, после удачной аутентификации, старые токены пользователя удаляются, и только после этого делается новый через вызов `createToken`. Метод `createToken` принимает один аргумент - строку, которая является названием токена, и возвращает новый токен доступа, который затем можно отдать пользователю.

Учтите, что код выше является лишь примером, и в реальном приложении необходимо провести соответствующие проверки безопасности и возможно реализовать более сложные сценарии управления токенами.

Base on the following information, describe what this company is offering as a service:   
CONTACT
E&C energy contracting enables you to identify the best offer
How do you organize your energy contracting?
Anticipating the next supply contract request-for-quotes? Confident in your ability to get the best out of suppliers’ arsenal of contractual options?
Contracting_penA
 
If, like many, you could benefit from a second, expert opinion, let our experienced professionals take the load so that you can focus on taking decisions.
LET'S TALK
Logical, thorough process
At E&C, we believe in a transparent, comprehensive approach:
ContractingC
E&C supports your energy contracting activities
E&C conducts hundreds of request-for-quotes each year in many different countries. We help our customers secure the best possible offers thanks to:

• 	Our passion for energy markets – knowing how an energy company hedges in the wholesale markets helps us formulate the right price & risk management services for our customers. Knowing how portfolios work helps us secure the right volume conditions. Knowing about payment risks allows us to be realistic about payment terms.
•	Our firm methodology – Knowing when to ask for which concessions determines whether you obtain them and at what price.
•	Our independence – E&C’s code-of-conduct with energy suppliers sets the highest standard of independence. This is the cornerstone of our commitment to our customers: we never take commission from energy suppliers. We work strictly for energy buyers, not energy suppliers. When you work with E&C, you can be 100% sure that we have only one interest in mind: guiding you towards the best possible energy contract.
•	Our transparency – E&C’s energy contracting services are not a black box. We encourage suppliers to send every piece of information both to us and to you – the customer. We perform our analyses in spreadsheets that are shared with you without deleting any formulas. We are there to analyse and summarize information for you, not to monopolize it.
•	Our inclusive peer-to-peer approach – Energy supply contracting is an activity that we perform together. We will reduce your workload by taking care of all practical issues. That said, we’ll keep you informed of all the steps along the way and you’ll be the one to call the shots.
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E&C is an energy procurement consultancy with an international team of energy experts that offer a unique blend of global capabilities and local expertise.

Our offices in Europe, the US and Australia serve more than 300 clients from South-Africa to Norway and Peru to Australia that have an annual spend between 1.5 million and 1.5 billion dollars.

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Flanders Investment and Trade

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E&C energy contracting offers energy contracting services to help customers secure the best possible offers for their energy supply contracts. They conduct request-for-quotes in various countries and utilize their expertise in energy markets, firm methodology, independence from energy suppliers, transparency in their analyses, and inclusive peer-to-peer approach to guide customers towards the best possible energy contract. Additionally, they offer services in energy risk management, energy markets, energy controlling, energy data management, and sustainable energy management.