WYLIE, Texas, Oct. 8, 2020 /PRNewswire/ -- The North Texas Municipal Water District (NTMWD) has chosen to extend and renew its relationship with Direct Energy Business (DEB) by executing an agreement to purchase both power and Renewable Energy Credits (RECs) from DEB. The purchase of RECs and equivalent quantities of power will be used to partially offset NTMWD's non-renewable power usage. The RECs will support a new solar energy generation facility being developed in Laredo, Texas.
Managing all project risk, while negotiating the supply agreement, Direct Energy Business was able to guide NTMWD toward the ground-breaking agreement, projecting $14 million in savings over the next 15 years.
"This is a simplified and cost-effective approach to purchasing a certain portion of our overall electricity needs as renewable energy without the costs and challenges associated with building and operating a solar power facility," said Scott Puckett, Energy Manager for NTMWD.
Peak generating time of the new solar farm in South Texas will, in general, coincide with peak power usage times for NTMWD during the summer, with generally more power being produced at the solar farm in the summer afternoons rather than early morning or late evening.
"Direct Energy is pleased that NTMWD has taken a significant step forward in their sustainability journey by executing a local REC purchase through an innovative and efficient deal structure," said Dave Grupp, Head of Renewable Services for Direct Energy Business. "By partnering with NTMWD we have been able to not only reduce their carbon footprint, but also lower their energy costs, a true win-win for our customer and the environment."
Direct Energy is one of North America's largest retail providers of electricity, natural gas, and home and business energy-related services with nearly four million customers. Direct Energy gives customers choice, simplicity, and innovation where energy, data, and technology meet. A subsidiary of Centrica plc (LSE: CNA), an international energy and services company, Direct Energy, its subsidiaries and/or affiliates, operate in 50 U.S. states plus the District of Columbia and 8 provinces in Canada. To learn more about Direct Energy, please visit www.directenergy.com.