ATLANTA, GA – December 30, 2005 – Prenova announced today that one of the nation’s largest retailers has agreed to a one-year contract extension with Prenova. The customer will continue to receive Price Risk Management and Rate and Tariff Optimization solutions, as well as guidance regarding its own risk management strategies and programs. Furthermore, Prenova will provide a number of decision management solutions, including Utility Due Diligence, Rebate Management, and PreVue®. Prenova will provide the customer Rate and Tariff Optimization and Price Risk Management in regulated and deregulated energy markets, respectively. Through the Rate and Tariff Optimization solution, Prenova identifies the best possible regulated commodity rate for each relevant site in the customer’s portfolio.
Prenova will provide the customer its Price Risk Management solution in deregulated energy markets. Prenova’s Price Risk Management solution addresses the optimization of cost and risk in procuring electric and gas energy for the enterprise. Price Risk Management includes the continuous review of market conditions to assess and determine both the potential near-term and future impact on financial outlooks these market changes create for the customer’s energy supply portfolio in terms of potential savings or risks. Price discovery is a critical part of this solution. Prenova then develops strategies and plans for managing price and risk, recommends specific actions to the customer, executes the agreed actions, and performs Quality Assurance to ensure that changes are accurately implemented.
Prenova's PreVue web application is the "window" through which the customer views, understands, and manages the impact of energy performance. PreVue provides standard views of facility and portfolio performance for usage and cost, and offers quick links to all services rendered by Prenova. All customer analytics are accessed through PreVue.
Through its Utility Due Diligence and Rebate Management solutions, Prenova works on the customer’s behalf with utility suppliers to coordinate activities and requirements surrounding facility openings, closings, and other time-sensitive issues that affect energy-related spend. Furthermore, Prenova will provide all rebate management issues on behalf of the customer. Prenova ensures that the customer is in a position to capture any savings or credits for which it is eligible. Prenova will complete all paperwork required, submit for approval, and follow through with participating utilities to ensure that rebates are applied correctly.
Home Improvement Retailer Overview
The customer is one of the world's largest home improvement chains. The firm operates more than 1,500 stores in all 50 U.S. states, Canada, Mexico, and Puerto Rico. It targets the do-it-yourself and professional markets, and sells a wide assortment of building materials, home improvement, and lawn and garden products, while providing a number of services.
About Prenova
Founded in 1997 and headquartered in Marietta, GA, Prenova, Inc. delivers visibility, manageability, and predictability (VMP®) over customers’ energy usage, price, energy-related asset performance, and maintenance costs. Through its energy management solutions, the company works both sides of the energy bill to drive down energy expenditures and thus improve profitability.
Prenova’s unique delivery platform enables the company to leverage existing customer assets to produce immediate, enhanced investment returns through reductions in both direct (price, tariff, utility payments) and indirect (usage, assets, maintenance) energy costs, while simultaneously improving reliability of business operations. There are no set-up costs, nor upfront software or hardware required. The value Prenova creates for its customers is significant to their bottom line, and includes the following:
- reduction in energy usage by up to 30%
- avoidance of unplanned maintenance/repair costs by up to 40%
- extended equipment life by up to 30%
Prenova manages billions in annual energy expenditures across tens of thousands of customer locations nationwide. Some organizations that rely on Prenova include Dollar Tree, Crate & Barrel, Owens Corning, Eddie Bauer, Famous Footwear, 24 Hour Fitness, U.S. Cellular, and Costco.
For more information, please visit www.prenova.com.