World Energy Solutions Inc., a leading energy management services firm, yesterday announced that it has assisted Tedeschi Food Shops in securing new electricity contracts for 157 of its stores in Massachusetts. World Energy conducted a series of auctions on the World Energy Exchange to enable Tedschi to lock in competitive rates, providing the retailer with savings of approximately $400,000 over its previous rates.
World Energy worked closely with Tedeschi to evaluate and understand appropriate energy needs. World Energy then collected usage data from all of Tedeshi’s Massachusetts locations and synthesized that information into electronic RFPs marketed to the supplier community, resulting in “a highly liquid, competitive, and transparent event” to determine the best contract.
“Sourcing power effectively for this many locations, accounts, and service territories is very challenging,” Bob McGann, vice president of Store Development for Tedeschi stated in the press release. “World Energy did a great job of listening to us and simplifying the process so we could capitalize on favorable market conditions, lock in long-term fixed rate contracts and really take control of our energy spend.”
Phil Adams, president of World Energy, noted the statistics of energy consumers wasting money by not having a strategic plan.
“Less than 10 percent of B2B energy buyers are availing themselves of technology-based approaches to extract the best price from the market. As a result, they are leaving money on the table and often settling for terms that don’t advance their business goals. Tedeschi Food Shops serves as a powerful reminder that a more strategic approach to energy management pays dividends,” Adams stated in the press release.
To date, World Energy has transacted more than $20 billion in energy, demand response and environmental commodities on behalf of its government, commercial & industrial, and utility customers.
For more information visit www.worldenergy.com