Electric rates locked in for four years for affordable housing communities located throughout Maryland, Pennsylvania and Virginia
MD Energy Advisors has created a comprehensive energy purchasing strategy for Enterprise Residential that has resulted in energy savings for approximately 45 affordable housing senior living and family living communities situated throughout the Maryland, Pennsylvania, Virginia and the Washington, D.C. region. The strategy also brought budget stability to the communities by locking in rates for a four-year period. Baltimore-based property management company Enterprise Residential manages more than 80 affordable housing and market-rate communities in the local area.
“Our initial interest was to utilize MD Energy Advisors for the procurement of utilities and the natural progression of the approach was to provide numerous choices from which to choose,” explained Walter L. Neighoff, Director of Engineering for Enterprise Residential. “The strategy progressed and we were successful in achieving energy savings, while also locking in rates over an extended period which provides budget stability and confidence. “Previously, we were at the mercy of the market and the impact of mother nature to determine utility costs which can wildly fluctuate. We have now achieved an economy of scale and we are considering using MD Energy Advisors to provide the same assistance with additional properties.”
Headquartered in Baltimore, MD Energy Advisors is a customer-centric energy management, marketing, and efficiency firm providing energy solutions to utilities, private companies and residential clients. The company identifies opportunities to reduce energy-related operating expenses, offers strategies that improve environmental impact and provides financial vehicles to help implement these strategies.
“We provided nearly 60 different options for Enterprise Residential to acquire electric and gas resources on the open market, in addition to developing an overall strategy for future purchases,” stated Paul Clary, Co-Founder of MD Energy Advisors. “Acting as an owner’s representative, we were able to secure the best rates, while helping their team understand the key data and energy usage for each community. This guidance also enabled Enterprise Residential to prioritize energy efficiency opportunities throughout their portfolio.”
“Not only does our new partnership with MD Energy Advisors reflect a reinforcement of our commitment to advancing racial equity by seeking out minority-owned business partners, but it also helps to achieve efficiencies in our communities and delivers on our promise of best-in-class property management to residents,” adds Enterprise Residential President Gayle Filo.
For additional information about MD Energy Advisors, visit www.MDEnergyAdvisors.com