BOULDER, COLORADO, Aug. 4, 2003 — In this tight economy, business owners might do well to take another look at their electricity bills.
EnergyWindow,® recently secured a contract for electric power supply in the deregulated Texas market that will net a $2 million savings for a national retailer in 2003 and an estimated $9 million over the course of the three-year contract. The dollars saved as a result of the contract will flow straight to the Fortune 200 company’s bottom line.
Like many large companies, the retailer had been looking for ways to reduce operating expenses. Rising energy costs were a logical target, so they turned to EnergyWindow for assistance in securing a more favorable contract with an electricity supplier. Previously, EnergyWindow had obtained positive results in a similar situation for some of the retailer’s Michigan stores. When the end of the contract for their Texas facilities – over 50 stores, a warehouse, and several other facilities – drew near, they again turned to EnergyWindow’s online bidding system to solicit competitive bids from Texas energy suppliers.
“We were pleased with the level of participation,” said EnergyWindow CEO, Jack Mason. “Fourteen suppliers expressed interest and six ultimately submitted bids lower than the retailer’s ‘price to beat.’ It’s an indication of the successful development of the Texas deregulated electricity market.” Almost all territories in Texas were covered, including those in the Dallas-Fort Worth and Houston regions. The cost savings realized as a result of the contract will represent 25% of supply costs, measured relative to the retailer’s price to beat in various service territories. The average price to beat, which is the price customers pay if they do not choose a competitive retail electric provider, has risen more than 30% in the last year, due in large part to higher natural gas prices.
As was the case for many in the retail sector, first quarter sales were lower than expected for this national retailer, resulting in revised business objectives and priorities for the remainder of 2003. EnergyWindow was able to respond to the changing needs with speed and agility. “This was an example of one of the great advantages of our online system,” said Mason. “When our client’s objectives changed after first quarter results came in, and market conditions indicated that an opportunity for immediate, significant savings existed, we were able to turn around and re-post requests for quotation and solicit new bids in less than three days.”
EnergyWindow, headquartered in Boulder, CO and founded in 1999, helps energy buyers with large energy supply demands and many facilities save money, time, and reduce risk exposure in deregulated energy markets. EnergyWindow provides a full range of services and products that assist businesses with all aspects of energy procurement and managing the energy supply cycle.
EnergyWindow’s flagship service, the automated online request for quotation system, matches energy buyers and suppliers via an open, objective Web-based procurement process. This system quickly creates accurate, need-based requests for quotation, solicits competitive bides from multiple, qualified energy suppliers, and identifies the best supplier with which to contract for energy supply.
Additional offerings include strategy development, program development, cost and use analysis, tariff analysis and auditing, competitive market information sources, and energy program cost and performance management.
For information: http://www.energywindow.com