The Opportunity
Prior to partnering with 5, the Irving Convention Center (ICC) had procured energy by issuing RFPs directly to suppliers. While this process met their basic needs, the ICC lacked the time and tools to track and analyze market conditions or conduct usage analyses that would allow the facility to capitalize on periodic market fluctuations. As a result, the ICC had little opportunity to reduce baseline energy costs or pursue operational efficiencies. Additionally, the ICC had initiated a new lighting project but lacked the funding to complete it.
ABOUT THE IRVING CONVENTION CENTER
Located in the central business district of Irving, Texas, the state-of-the-art,Irving Convention Center at Las Colinas is a premier meeting and event destination in the thriving North Texas region.
Boasting 275,000 square feet of LEED Silver-certified event space, the ICC provides an impressive and spacious venue, centrally located in the Dallas-Fort Worth Metroplex, for a wide range of gatherings from large-scale conventions and conferences to weddings, graduations and other celebratory events, as well as national and regional sporting events and trade expos.
5's Approach
5's partnership with the ICC started with an in-depth analysis of the facility's energy usage, along with a review on the state of the energy market. This analysis provided insights into how and when the ICC was using electricity and the resulting energy costs. As a convention center, the ICC had unique challenges – and opportunities – related to energy usage, which the 5 team incorporated into a customized energy strategy.
5 completed an RFP process to procure a long-term retail supply agreement well below the ICC's current commodity rate while also securing 50% of the load through a renewable energy purchase.
5 also identified an opportunity to reduce ICC's distribution cost and petitioned the utility to optimize the power set-up for the facility by combining two primary meters. This change resulted in an annual cost reduction of over $20,000.
As part of the supplier RFP process, 5 was also able to help the ICC secure energy efficiency dollars, which helped to fund the ICC's lighting project and increase energy-efficiency.
The ICC now has a robust energy strategy in place that controls and reduces each aspect of their energy costs. As a trusted energy advisor, 5 has helped ICC achieve its goals of reducing long-term expenses and implementing additional energy-efficient measures, all while operating an environmentally responsible facility.
"5 is a true energy advisor and they helped us in more ways that a traditional broker could. They are a trusted partner and the service they provide extends beyond anything we have previously experienced." - Tom Meehan - General Manager
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