Massachusetts Cities Hire Energy Advising Firm
Energy consulting firm, SourceOne, will provide advisory services for SouthCoast Electric Power Group (SCEPG), an aggregation composed of the cities of New Bedford, Fall River and nearly 30 companies in Massachusetts.
"During these tough economic times, it is extremely beneficial to have experts to provide our group with the energy advisory services needed to help manage member costs over the next few years," said Roy M. Nascimento, President and CEO of the New Bedford Area Chamber of Commerce.
The SCEPG is comprised of over 800 separate accounts with an aggregate annual electricity load of roughly 150,000,000 kWh, representing an estimated annual budget of approximately $10 million.
SourceOne will provide energy services include development of pricing alternatives, contract negotiation with electricity suppliers, ongoing management of the supply relationship, and electricity market insight and forecasting. These services allow SCEPG members to have the information needed to make important electricity pricing decisions and to further reduce electricity costs.
The contract was awarded to SourceOne after a competitive public request for proposal for energy consultant services.
"Municipalities as well as commercial and industrial customers are under increasing pressure to manage costs," said Chris Barros, P.E. Vice President and General manager of Energy Management at SourceOne. "Potential electricity cost reductions will have a positive impact to the bottom line."