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Boston’s Wentworth Institute of Technology works with Direct Energy Business, one of the largest retail energy suppliers in North America, to manage near- and long-term energy supply costs at the school’s rapidly-expanding campus. Through its relationship with Direct Energy Business, Wentworth has used energy market resources and experienced guidance from Direct Energy Business to manage both its electricity and natural gas costs and establish itself as an academic and community leader.
Located on 31 acres in the heart of Boston, Wentworth Institute of Technology offers undergraduate, graduate and continuing education programs in a full range of technical disciplines. Wentworth’s active campus has nearly 4,000 students and 400 faculty and staff members. As part of a strategic plan that began in 2013 to expand learning opportunities and build its infrastructure, Wentworth Institute of Technology continues to expand its facilities, opening new academic buildings and finishing construction on a 7-story dormitory.
To manage energy costs while building out its facilities and planning for longer-term expansion, Wentworth Institute of Technology sought energy solutions that allowed it to accomplish the following:
Wentworth Institute of Technology leaned on Direct Energy Business’ more than 25 years of experience for proactive guidance to help develop the most appropriate solutions for its growing campus. As a result of the competitive prices that Direct Energy Business could offer, Wentworth opted to purchase both its electricity and natural gas supply from the company.
After becoming a Direct Energy Business customer, Wentworth gained a new avenue for regulating its supply costs. In particular, the extensive market intelligence tools Wentworth has at its disposal have helped the school forecast its usage and pricing several years in advance. After previously executing forward energy purchases no more than one year in advance—and often missing out on savings as a result—Wentworth can now look even further ahead and lock in prices when market conditions are most favorable.
For instance, as construction began on a new dormitory, Wentworth’s Direct Energy Business Representative proactively informed the school that, despite a general downward trend in natural gas prices, gas pipelines in the region were constrained and unable to accommodate growing demand—so, local prices were likely to rise in the future. Wentworth, therefore, took advantage of the low natural gas prices at that time to lock in future savings for the new facility and ensure budget certainty, thereby limiting its exposure to rising or unpredictable prices.
As Wentworth Institute of Technology and Direct Energy Business grow their relationship and continue developing customized energy solutions for the thriving campus, Wentworth continues to take advantage of cost-saving opportunities and strengthen its regional standing as an academic leader.
Posted: August 21, 2015