$1M in Reduced Spend With a Better Strategy
Saved on their gas portfolio
Reduced spend across gas and electric contracts portfolio-wide in NYC
Properties consolidated onto a block-and-index gas and electric strategy across New York
How a 40-property New York Commercial Real Estate portfolio went from paying the utility rate with no strategy, to saving $1M across their entire footprint.
The Challenge
For years, this Commercial Real Estate owner’s New York electric and gas portfolio ran out of contract entirely: zero hedge, fully exposed to the market. Rising electric and gas costs and market volatility made energy an increasingly unpredictable line item. 40 properties were scattered across New York with no strategy in place to protect against unpredictability. No one on the team had visibility into how much risk that represented or that a better structure existed.
It was hard enough keeping track of 40 properties without also trying to figure out energy procurement. They had no idea a better strategy could save them significant time and money until Energy CX showed them what their out-of-contract rate was actually costing, property by property.
“We had 40 properties and no real strategy behind any of them. We didn't know what paying the utility rate was costing us until Energy CX showed us, property by property.”
— Vice President, New York-based Commercial Real Estate company
How Energy CX Helped
Custom Strategy: Energy CX proposed a quantitative approach the owner hadn’t been offered elsewhere: a flexible 25% fixed / 75% floating block-and-index strategy, with room to adjust the fixed position as market conditions moved.
Clean Reporting: Energy CX produced a custom analysis explaining cost components and savings, and gave the team access to ABEL™, a proprietary Platform that consolidates contract performance and market data in one view. This enabled the team to see ongoing market updates on fixed positions and receive more accurate budgets.
Operational Relief: When utility issues came up, Energy CX’s dedicated Customer Support team worked through them directly and stayed responsive throughout, the kind of hands-on follow-up the team pointed to when asked what set Energy CX apart.
The Outcome
The custom strategy resulted in $804,810 across the entire New York gas portfolio compared to the utility rate. Across the portfolio’s gas and electric contracts in New York City, combined savings landed at roughly $1 million. Moving from no strategy, to a strategy tailored to their market and specific goals essentially put money in their pockets that they didn’t know existed.
Additionally, the visibility Energy CX gave them through their proprietary Platform, ABEL™, gave them a centralized view of their entire portfolio. This, paired with fast responses on utility issues, saved the customer time in addition to the large monetary returns.
“Energy CX gave us a strategy sized to our own risk and their Platform let us see the whole portfolio in one place. It showed us we didn't know was on the table.”
— Vice President, New York-based Commercial Real Estate company
Why This Story Matters for Commercial Real Estate Customers
Commercial Real Estate operators managing dozens of properties across a state or region often don’t realize paying the utility rate and leaving energy strategy unmanaged could be costing them millions. A custom strategy tailored to their risk tolerance, backed by a team that resolves utility issues fast, turns energy from an invisible line item into a documented seven-figure savings opportunity.
“Managing our portfolio isn't just about the budget, we're accountable to our investors and the tenants who depend on us to get it right. Energy CX gave us a strategy sized to our own risk instead of a generic rate, and when utility issues came up, their team solved them fast. That response is what makes us feel taken care of, and shows us that we have a true partner.”
Vice President
New York-based Commercial Real Estate company
INDUSTRY
Commercial Real Estate
FOOTPRINT
40 properties across NY state
ENERGY SPEND
~$10,000,000
PREVIOUS
Out-of-contract volatile utility rate
STATUS
Active Energy CX customer