State: Connecticut Industry: Manufacturing Service: Risk Management & Energy Procurement
Client: A large metals manufacturing company engaged Stanwich Energy to help manage their risk exposure while shopping for a managed variable electricity contract.
Result: Stanwich reduced the client’s risk and also achieved significant savings of 17 percent.
Summary: The client owns a number of large manufacturing facilities throughout the country. The company turned to Stanwich to gain better visibility into, and control over, energy spend and procurement.
After studying the client’s demand profile, Stanwich recommended a new approach to buying power. By shifting their heavy manufacturing to off-peak hours, there was a tremendous opportunity to capture cost savings due to low wholesale power prices. Since the client was on a fully fixed rate in the past, Stanwich secured a favorable on-peak block and structured the contract to allow the off-peak hours to float on the index market. The result: A year-over-year cost savings of 17%.