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Their Background

As an international leader in the multifamily real estate business with over 400,000 residences, they have made a name for themselves in the industry by staffing the very best real estate professionals, trained to take pride in resident satisfaction.


Their Energy Goals

The multifamily real estate business needed to implement an innovative energy strategy that would leverage their vast portfolio of properties and save employee time. They partnered with Incite Energy to streamline their energy management process, cut costs, and increase revenue.

At the corporate level, the company lowered direct energy costs by over $1.3 million and increased revenue from preferred provider payouts over their 2-year contract while select properties reduced costs by up to $35,000 a year.


Procurement Savings

They partnered with Incite Energy to build an energy procurement strategy that significantly lowered operating costs by leveraging their portfolio size. This plan improved services to both large and small customers. The company capitalized on market opportunities to secure low rates by tracking dips in the natural gas market. By locking in two terms back to back they were able to hedge a 4-year price that was timed at the 90% of lowest prices available, dating back 365 days prior.

This multifamily real estate business also secured preferable contract terms, including: no meter add/delete fees, long-term fixed rate, and consolidated billing. Together, our client and Incite worked with their preferred energy supplier and on-site teams to create a new marketing agreements that increased marketing payouts from their preferred supplier by $240,000 a year.

Incite also helped develop a natural gas strategy, resulting in savings ranging from $10,000 to $35,000 for each qualified community.


Tax Savings

They recovered up to four years of energy sales tax through Incite’s Bill Audit Service for qualified tax-exempt meters.

 

Time Savings

They used Incite Concierge to free up employee time, giving their team more time to focus on clients. Any time they experienced an energy-related issue, Incite assisted them with their supplier, permitting, electrical contractors, poles and wires companies, and their utility.

Incite’s on-going account monitoring for current sites and new additions to their portfolio has created a new proactive approach that ensures issues are resolved before they occur.

 

Customer Testimonial

“Incite Energy created a process that allows us to understand the complexities of the energy markets in relation to our portfolio, in turn creating added revenue,” a director at the company said, “Incite Energy has been transparent, open, and honest about all processes and procedures.”

 

Services Utilized

Energy Procurement, Natural Gas Procurement, Energy Analytics Portal, Risk Management, Market Data, Utility Bill Management, Monthly Reporting

Impact

  • Centralized energy procurement strategy and aggregation of over 80,000 electric meters to save $1.2 million over a 2-year term
  • Revenue from marketing payout increased by $240,000 a year
  • Utilized Incite’s concierge to save on taxes, reclaim valuable employee time, and create a proactive energy management program
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