MIDLAND & ARLINGTON, Texas--(BUSINESS WIRE)--Priority Power Management, LLC (“PPM”), a Texas-based leading independent energy management and consulting services firm, today announced that it has successfully negotiated and secured a 9-year retail electricity supply contract for the City of Abilene.
The City consumes over 54 million kilowatt-hours of electricity a year, across 492 electricity accounts. The new contract locks in a fixed electricity price for the City that will deliver $15.8 million (44.6%) in savings over the term. The new contract will begin in January 2018 and continue through December 2026.
“We were extremely pleased with the outcome of the competitive bidding process,” said Robert Hanna, City Manager. “This new contract achieves our goals of securing year-over-year savings and having budget certainty for a long period of time.”
“This contract was a great win for the City of Abilene,” said John Bick, Managing Principal. “We evaluated several options throughout the competitive bidding and negotiation process, including some third-party wholesale energy supply options. Ultimately, we were able to negotiate and execute a contract that locks in all competitive retail electricity supply components, including nodal congestion, at a very low price,” added Bob Forman, Senior Director responsible for leading the City of Abilene engagement for PPM.
PPM was engaged by the City of Abilene May 1, 2016 to provide customized strategic energy advisory, supply procurement and risk management services. PPM looks forward to serving Abilene as their energy advisor.
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.
