The Beal Companies Saves $1 Million Annually with Enel X
Energy management comes down to analyzing cost and risk on an ongoing basis, and Enel X was our trusted advisor throughout the whole process.
The $1 million in annual savings Enel X achieves for The Beal Companies is significant, since stable, lower energy costs are extremely attractive to the company’s high-profile tenants. Ultimately, these savings are passed on directly to its tenants, helping ensure their ongoing satisfaction.
Other benefits include:
A Customized Strategy
Enel X worked closely with The Beal Companies to develop a customized energy strategy that reflected the unique needs of its portfolio of properties. Enel X learned the nuances of each property and its energy needs, and responded with an encompassing strategy that met The Beal Companies’ overall needs—less risk and lower energy costs.
“Everyone in our industry is nervous about energy prices,” says Leventman. “There’s a lot of uncertainty now, and the last thing we need is another spike in prices.” With Enel X, The Beal Companies gain more control over energy pricing, as well as the confidence that comes from longer-term energy contracts. “What Enel X really helps us do is go out and get contracts years in advance with tremendous rates,” says Leventman. “Having more control over our energy costs is a real advantage to us, and to our tenants.”
By partnering with Enel X for energy management, The Beal Companies can focus on managing its properties, exploring new real estate opportunities, and other aspects of its business. Enel X takes care of the end-to-end details, from education to execution, of the inherently complicated financial transactions associated with commodity energy purchases, enabling the company to stay focused on running its business.
A Commitment to Green
“The Beal Companies is committed to a clean and green approach to using energy,” says Leventman. Managing energy use more actively is just one way that The Beal Companies serves its tenants. It is also actively managing its demand. For example, its property managers have installed variable frequency drives on key motors, such as HVAC systems, reducing expensive, inefficient spikes in energy use. These internal efforts have resulted in an 18 percent drop in energy costs at key Beal Companies properties.
“I really like that Enel X doesn’t have any allegiance to an energy supplier,” says Leventman. “I like that they don’t pressure you. They just give you the facts.” This even- handed approach enables The Beal Companies to evaluate all opportunities and choose the best path forward.
“Our Enel X contacts are truly the nicest people to work with,” says Leventman. “They answer all our questions, take care of all the details—including the contracts, and they make the challenge of dealing with energy management easier to deal with.” As a close, trusted partner, Enel X serves as an ongoing advisor to The Beal Companies, helping it navigate ever-changing energy markets. And complete transparency keeps The Beal Companies informed at every stage.
Enel X continues to provide The Beal Companies with ongoing advice aimed at maximizing savings while controlling risk. With Enel X, The Beal Companies gains ongoing market monitoring. Enel X continues to track competitive markets for future buying opportunities and revise The Beal Companies purchase strategies based on the latest conditions. It’s all part of Enel X’s rigorous, ongoing portfolio management.
What Enel X really helps us do is go out and get contracts years in advance with tremendous rates,” says Leventman. “Having more control over our energy costs is a real advantage to us, and to our tenants.
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