Rethink Your Retail Energy Supply and Save 20% or More
Energy is one of the largest expense items for organizations – yet often times is overlooked by busy teams with multiple competing priorities. However, you can actually capture significant savings for your organization through thoughtful management of your retail energy supply.
That’s what The George Washington University (GWU) is proving right now. With CFR’s support, the Washington, D.C.-based University saved between 15% and 20% annually on its retail electricity spend while addressing about 20% percent of its annual carbon emissions with offsite renewable energy.
“CFR not only supported our renewable energy journey but actually helped us save money on our portfolio through an integrated retail purchasing strategy,” said Meghan Chapple, Director of Sustainability at GW. “They provided objective and rigorous support on all aspects of our energy strategy far beyond the capabilities of a traditional broker.”
End-users can take control of their energy supply on the way to a lower carbon future by identifying and implementing strategies that capture market inefficiencies embedded in a customer’s utility or retail supply contract. We have seen our clients achieve more than 10% savings on their electricity spend in regulated markets, and more than 20% savings in deregulated markets after adopting a more hands-on approach to energy procurement.
CFR helps organizations improve their outcomes, whether by sourcing cheaper power or procuring renewables. In regulated retail markets for electricity, where vertically integrated utilities control much of the energy system, we get our clients off purchasing on “autopilot” so they can quickly capture the best-value savings opportunities that are often overlooked by market participants. We’ll start with a baseline energy assessment before identifying and executing any cost savings or green opportunities on the client’s behalf.
End-users operating in deregulated retail markets already have access to competitive energy suppliers, and have significant opportunity to improve their energy portfolio—but are they leaving money on the table? Third parties often prioritize creating sticky customer relationships over sourcing the best possible deals, and buyers may be squandering savings potential on broker fees, channel fees, and other expenses. In contrast to traditional energy brokers, CFR’s only incentive is to ensure the highest value for the client over a long-term relationship. We help our clients navigate around the traditional middlemen and support execution of optimized energy contracts without the expensive price-adders.
Whether a client’s load is regulated, deregulated or distributed, CFR always recommends managing energy purchases as a portfolio – rather than as individual contracts.
“CFR explored GW’s electricity purchase and discovered opportunities to optimize, allowing the university to better capture the value of our renewable energy purchase” said Chapple. “The integrated approach allowed GW to look at our electricity needs and options in a more holistic and strategic manner that positioned the university for cost savings going forward.”
For clients considering renewables, but not sure where or how to start, optimizing spend and efficiency from a business-as-usual standpoint can provide a springboard into a renewable energy future. No matter where you are in the process, virtually all of these opportunities come at minimal cost to implement.
“Based on our experience, I would advise any organization to look carefully at their full electricity costs as they consider their energy future,” said Chapple. “GW now takes advantage of costs and benefits in the university’s electricity portfolio that allow the university to continue investing in the future.”
Whatever your situation is, CFR can help you manage and reduce your energy costs month-over-month, to free up savings you can deploy elsewhere in your organization. If you’re ready to take the next step and rethink your energy procurement, let us come in and do an assessment.
Are you ready to take the next step?
If you are ready to give your energy strategy a fresh look, please contact us: