Saving Money on Energy and
Reducing Price Volatility
Success Story - 5 Energy Advisors
5 Energy Advisors is a Vendor Centric Subject Matter Expert on energy planning and procurement. The firm provides consultative strategies and advice for managing energy, and procures energy contracts on behalf of clients to control costs and manage risk.
5 introduced their services to the Allegany Museum in Cumberland, MDthrough the Alliance Purchasing Cooperative (a purchasing cooperative managed by Vendor Centric). As a member of the cooperative, the Allegany Museum had priority access to 5's energy advisory services. The museum engaged 5's advisors to audit their bills and evaluate their current pricing as compared to competitive supplier pricing and the utility default rates.
Upon approval by the museum, the 5 team negotiated a more favorable rate with an alternative energy provider that provided a transparent pricing structure and enabled Allegany Museum to take advantage of historic lows in the energy market. As a result, the Allegany Museum is projecting to save approximately 20% on their electricity costs in 2015.
“The museum was on a complex product that made it difficult to budget future electricity costs. 5 prepared a detailed analysis of their current rate structure and identified a commodity procurement strategy that took advantage of the recent decline in energy prices and provided near term budget certainty. And as a member of the cooperative, the museum has preferential access to 5’s wide range of energy management services.”
Jon Moore, Partner
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