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ATLANTA, GA – February 14, 2006 – Prenova announced today it has signed a three-year agreement with one of the world’s largest technology companies with almost $11 billion in revenues and an annual US energy spend of $275 million. Prenova will provide Bill Data Management solutions, including bill payment and bill audit, Price Risk Management, and Prenova's PreVue® solutions for its 800 US and Canada sites.
Through its Bill Data Management solution, Prenova performs a series of powerful proprietary processes on the customer’s utility bill data to identify bill errors (including rate and tariff reviews) and anomalies, which Prenova then investigates and resolves. In the event of errors from the billing party, Prenova notifies the party, and obtains a credit or refund on the customer’s behalf. Prenova then ensures that these corrections are sustained in all subsequent bills. The corrected billing information is then available through Prenova’s web-based digital dashboard tool PreVue. Prenova's PreVue web application is the "window" through which the customer views their real-time view 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.
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.
Customers access a “report card” on the success of Prenova’s initiatives through PreVue, a web-based decision analytics tool for customers to set, track and measure the effectiveness of their energy programs, along with the efficacy of Prenova’s initiatives. PreVue is available 24x7x365 and can be configured by Prenova to fit the goals, needs and preferences of each individual customer. PreVue empowers customers with the visibility to understand why energy related events are happening, what the events mean, what options are available, how to seize energy savings and avoid hidden risks, along with the related financial impact of customers’ price and usage initiatives.
Global manufacturing Company Overview
The customer produces a wide variety of products such as steel, plastics, elevators, and scaffolding in production sites across 19 states. It has a wealth of expertise in its three main areas of business Steel, Capital Goods and Services, specifically in its five segments Steel, Stainless, Automotive, Technologies, Elevator, and 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 . |
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