Local Energy Management Firm Provides Expert Weather Analysts and Deep Market Knowledge Days Ahead of Winter Storm Uri
HOUSTON, May 11, 2021 /PRNewswire/ -- There's no question that most Houstonians and Texans alike, were not prepared for the devastating impact of winter storm Uri but one local energy management firm saw the writing on the wall days ahead, and prepared accordingly. When Uri began impacting Texas on February 14th, grid resilience and reliability came into question with thousands of businesses and residences losing power for extended periods, and the aftermath was an outcry regarding high energy bills. Choice! Energy was prepared well in advance for such a unique weather event, and its clients benefited financially from their proactive response to the crisis. "Choice! Energy Management is fully equipped to navigate our clients through weather events such as Uri that affect the market," said CEO Kiki Dikmen. "We provide comprehensive energy management services to our clients, using expertise and technology to find value and assist in achieving their differing goals," continued Dikmen.
Choice! Energy took initiative and informed all managed product customers on Thursday, February 11th, before the storm. Managed product customers were equipped with language in their contracts by the advice of Choice! to allow them to sell back power to the grid in time of need. Choice! offered dollars to buy back some of the power and/or gave the option to sell back at market rates but made sure managed product clients were aware of weather events and shed load in accordance.
Several Choice! clients including some notable midstream companies and large manufacturing operations, such as the likes of Cimbar and Noltex benefited from this power management approach. "During winter storm Uri, Choice Energy Management far exceeded my expectations at managing company exposure to the prevailing high energy prices experienced in the market," said Noltex President, Brian Kinkopf.
Choice! Energy Management was able to utilize its weather analysts and deep market knowledge, combined with previously smartly designed contracts to allow its customers to not just sell power back to the grid and provide relief during power shortage but also provide a new positive cash flow to its clients during the process. They had several clients selling back power to the grid in excess of 2 million each and some clients with levels exceeding 10 million. Furthermore, Choice! utilized its proprietary software to track, audit and validate the invoices that were to come in the aftermath.
ABOUT CHOICE! ENERGY MANAGEMENT
Choice! Energy Management is a full-service energy procurement and utility management company with a nation-wide presence and a complete suite of energy management services supported by in-house facility intelligence solutions. Through common ownership with one of the nation's largest power and natural gas brokerage houses, Choice! Energy Management is in a superior position to monitor, negotiate and validate energy rates proposed to clients, saving clients considerable time and money. For more information please go to www.choiceenergymanagement.com.
SOURCE Choice! Energy Management
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