Generating Cost Savings in Both Flexible and Non-flexible Energy Operations
The following services were performed by Environ Energy
Issue:
With an energy spend exceeding $40M across all energy types, NYU Langone Medical Center, consisting of the NYU Medical Center (Superblock) and six additional portfolios, sought to partner with a knowledgeable company to manage day-to-day transactional execution and overall energy procurement activity for two different building types.
Result:
Environ employed a creative approach to energy procurement to achieve the lowest unit cost while managing the overall risk of budget variance for both flexible and less flexible facilities.
Details:
NYU Langone Medical Center consists of two different types of facilities: those that feature a cooling capacity that is provided by both electric and non-electric assets, and those that lack this specific operational flexibility. Environ was able to generate savings in both facility types through two approaches: utilizing time-of-day pricing and dynamic peak shaving for flexible facilities and pursuing deregulated energy products that contain more fixed positions to manage overall cost risk for less-flexible facilities.
Ongoing Engagement:
Environ has provided several energy management services to NYU Langone Medical Center since 2008, which have included establishing a demand response strategy, a monthly invoice review, and working closely with its finance department to develop annual utility cost forecasts. Since 2012, Environ has also supported the “Energy Building” project, consisting of an 8MW gas turbine, a 1.7MW steam turbine generator and two standby boilers.
Environ’s research and analysis became the underpinning of the investment in a combined heat and power system. When the project was completed, the Environ Energy team enacted a dynamic purchasing approach to secure the source fuel for the CHP system while monitoring the positions taken on natural gas daily. In addition, Environ continues to provide support of CHP development, assisting in energy-efficiency incentive programs and working to evaluate alternate financing mechanisms.
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