MIDLAND, Texas & ARLINGTON, Texas--(BUSINESS WIRE)--Priority Power Management, LLC (“PPM”), a Texas-based leading independent energy management and consulting services firm, has successfully negotiated and secured a 10-year retail electricity supply contract for the City of Midland.
The City consumes over 47 million kilowatt-hours of electricity a year, across over 750 electricity accounts. The new contract locks in the City’s electricity at a price lower than it has averaged over the last 14 years since Texas deregulated its electricity markets in 2002. As an added bonus, the contract also includes $225,000 of rebates available to the City to partially offset investments in energy efficiency upgrades. The new contract will begin in January 2017 and continue through December 2026.
“Priority Power Management had been watching the market for us and began presenting a variety of options to us late last year,” said Courtney Sharp, city manager. “When prices appeared to bottom this spring, we accelerated the process with the goal of locking in historically low prices for a long term even though we still had until the end of the year before our existing contract expired. We were extremely pleased with the outcome and were able to achieve our goals of having budget certainty for a long period of time.”
“This contract was a great win for the City of Midland,” said Pat Ennis, Founding Principal of PPM. “We evaluated several options throughout the competitive bidding and negotiation process, including some long term solar and wind power supply options. Ultimately, we were able to negotiate and execute a contract that locks in all competitive retail electricity supply components, including congestion, at a very low price.”
PPM has been providing customized strategic energy advisory, supply procurement and risk management services to the City of Midland since 2002.
About Priority Power Management
Priority Power Management, LLC is a leading Texas-based independent energy management and consulting services firm to large commercial, industrial and government customers. Priority Power Management provides unbiased and objective energy management services in the areas of energy information, supply and risk management, demand-side management and energy infrastructure solutions. Since its establishment in 2001, Priority Power Management has grown to procure and manage approximately $1 billion of annual energy spend on behalf of clients from its offices in Midland/Odessa, Dallas/Fort Worth, Houston and Abilene. For more information about Priority Power Management, LLC visit www.prioritypower.net.
