MIDLAND, Texas & 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 an 8-year retail electricity supply contract for the City of Big Spring.
The City consumes over 10 million kilowatt-hours of electricity a year, across over 200 electricity accounts. The new contract locks in a fixed electricity price for the City that will deliver nearly $1 million (11%) in savings over the term. As an added bonus, the contract also includes $34,400 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 2025.
“We were extremely pleased with the outcome of the competitive bidding process,” said Todd Darden, city manager. “This new contract achieves our goals of securing year-over-year savings and having budget certainty for a long period of time. We relied heavily on Priority Power Management’s expertise and Bob Forman [PPM’s Senior Director] as they guided us through the process.”
“This contract was a great win for the City of Big Spring,” said John Bick, managing principal of PPM. “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 congestion, at a very low price.”
PPM has been providing customized strategic energy advisory, supply procurement and risk management services to the City of Big Spring since 2013.
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.