MIDLAND, Texas & ARLINGTON, Texas--(BUSINESS WIRE)--Priority Power Management, LLC (“PPM”), a Texas-based leading independent energy management and consulting services firm, has announced that it has successfully negotiated and secured a 9-year retail electricity supply contract for the City of Arlington (the “City”).
The City consumes over 72.6 million kilowatt-hours of electricity a year, across 796 electricity accounts. The new contract locks in a fixed electricity price for the City that will deliver an estimated $23.5 million (32.8%) in total electricity cost savings over the term. As an added bonus, the contract also includes $150,000 of rebates available to the City to partially offset investments in energy efficiency upgrades. The new contract will begin in January 2018 and continue through December 2026.
“We undertook a structured competitive bidding process, utilizing Priority Power Management’s advisory and consulting services, that delivered the best overall value to the City,” said Mike Finley, Chief Financial Officer for the City. “This new contract achieves our goals of securing significant year-over-year savings and having budget certainty for a long period of time.”
“This contract was a great win for the City of Arlington,” said John Bick, Managing Principal of PPM. “We evaluated proposals from several qualified suppliers for various terms throughout the competitive bidding and negotiation process. Ultimately, we were able to negotiate and execute a contract that locks in all competitive retail electricity supply components at a very low price.”
PPM was engaged by the City of Arlington in April of this year to provide customized strategic energy advisory, supply procurement and risk management services.
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.
