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 new electricity supply contract for TPC member healthcare organizations resulting in estimated savings of more than $7 million over the 5-year contract term.
Today, healthcare organizations are experiencing declining reimbursements and receivables. As a result, healthcare organizations are seeking innovative ways to further reduce costs. Together, these hospitals benefited from the economies of scale gained through the Committed Energy Program designed by TPC through a strategic partnership formed with PPM.
“We attribute the success of our Committed Energy Program and its ability to maximize our owners’ savings directly to their high level of commitment,” said Geoff Brenner, president and CEO of TPC. “By demonstrating the benefits of a well-organized, committed group purchase, TPC members will save millions of dollars annually on their electricity purchases.”
PPM has been providing customized strategic energy advisement, supply procurement and risk management services to TPC members since 2010.
“With our large group buying power and ability to move quickly to capture historically low power prices, we were able to achieve very significant energy savings and budget certainty,” commented Dale Droll, director of engineering for Shannon Medical Center. “We could not have achieved this level of savings on our own. By working together with TPC and Priority Power Management, we coordinated a single competitive negotiation that was extremely valuable.”
“We are very pleased with the outcome of this most recent energy supply contract negotiation on behalf of TPC member hospitals,” said John J. Bick, managing principal of PPM. “While there was still over a year remaining on the existing contracts, we saw an opportunity to act now and capture historically low forward energy prices.”
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.
TPC is a network of independent healthcare providers unified by a shared
vision to work together as a system to leverage economies of scale
without sacrificing individual independence or local ownership. TPC
partners strategically collaborate to drive tangible results in
strategy, supply chain, purchased services, and clinical initiatives.
These strategic efforts require system-like commitment from each
organization's executive officers, physicians, nurses, other clinicians,
supply chain, IT, and departmental leaders. For more information about