State: New York Industry: Data Center Service: Energy Procurement
Client: A large publicly traded financial institution with data centers in New York
Result: Stanwich Energy reduced energy costs 14% via trigger price fixed option
Summary: This particular client has always had a low appetite for risk and finds that fixed pricing is very helpful when projecting costs for the fiscal year. The engagement with this customer underscores the client centric approach Stanwich takes to energy procurement.
Stanwich helped this customer mitigate risk in this high-spend area by taking advantage of low market conditions to secure favorable fixed rates. Stanwich worked closely with suppliers to provide this client with sophisticated products that were tailored to fit the company’s unique risk management approach. Initially, prices weren’t competitive. Stanwich recommended an index with a trigger price that was approved by the customer to automatically lock in a low rate when the market began to trend lower. Advising this customer means that Stanwich must continuously monitor the energy markets to meet budgetary goals and objectives, identify opportunities to reduce spend, and manage the customer’s exposure to risk.
Stanwich Energy’s robust reporting and analytical tools have proved useful in measuring the success of implemented energy supply contracts. Customized reports deliver visibility into the customer’s energy spend through a summary view of all managed energy supply contracts that include cost avoidance figures. Stanwich manages the data needed to assess the performance and ongoing status of the overall procurement strategy.