With offices around the world, the world’s leading source of intelligent information for businesses and professionals, searched for a solution to reduce costs and standardize practices for their facilities, specifically around their energy usage. Their goals were to implement a monthly billing management system, gain energy procurement guidance, and optimize facility operations all while keeping sustainability in mind.
The first step for SourceOne was to establish a dedicated energy and utility team to understand the customer’s goals, and to present the solution that best fit their needs. To address their billing management needs, SourceOne began to collect and analyze utility data, which was used to establish a baseline. After data was collected, a utility portal was created to store all of the customer’s historic and ongoing utility information. This consolidated view of energy cost and usage allowed for easier benchmarking and reporting of customer facilities worldwide.
To reduce energy costs related to energy procurement, SourceOne worked with the customer to develop and execute a commodity strategy. In formulating the strategy, SourceOne commodity analysts worked to identify exposure to price risk and to put into place cost control measures.
At a very high level, the customer’s greatest benefit is a $400 thousand annual reduction in energy costs, as well as a significant reduction in carbon footprint. But at a more granular level, the client gained several additional benefits:
- Through the use of SourceOne’s utility portal, the customer gained and continues to have greater insight to energy usage and costs, and as a result has better decision-making power.
- Receiving expert guidance on commodity procurement activities further reduced the cost of buying energy, and brought an understanding of their risk tolerance associated with price fluctuation in the energy market.