10 min read

November 2021 - Quarterly Market Letter

By Jon Moore on November 5, 2021

On behalf of the team at 5, I am pleased to forward our market letter for the third quarter of 2021. World leaders convened in Glasgow on October 31st to address international commitments to lower greenhouse gas emissions. The energy market welcomed these delegates with a complex set of conditions that frame the challenge posed by the transition to a clean energy economy. These include historically high natural gas prices and significant energy shortages in several markets that moved aggressively to decarbonize their electricity grids: UK, Germany, and California. At the same time, energy shortages in China may undercut decarbonization efforts of the world’s largest carbon emitter.

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Topics: Natural Gas Demand Response Sustainability Newsletters Education Renewables Resiliency
2 min read

Client Spotlight: Liberty Science Center

By 5 on October 28, 2021

Liberty Science Center is a 300,000-square-foot learning center located in Liberty State Park on the Jersey City bank of the Hudson River near the Statue of Liberty. It houses 12 museum exhibition halls, a live animal collection with 110 species, giant aquariums, a 3D theater, live simulcast surgeries, hurricane- and tornado-force wind simulators, and the Western Hemisphere's biggest planetarium—the Jennifer Chalsty Planetarium and LSC Giant Dome Theater. More than 750,000 students, teachers, and parents visit Liberty Science Center each year, and tens of thousands more participate in the Center's off-site and online programs.

Proactively controlling energy expenses and consistently reducing energy usage has always been a top priority for Liberty Science Center. The facilities and operations staff have looked to the team at 5 as a trusted partner to advise on best practices for electricity procurement and the implementation of a purchasing strategy that takes their existing solar arrays into account. Through a competitive procurement process, electricity contracts were recently put in place that leveraged 5’s proprietary energy market platform to identify strategic purchasing opportunities. Liberty Science Center has also aggressively participated in Demand Response programs and taken steps to reduce electricity usage to parts of the museum during periods of peak demand, which has provided an additional revenue stream to the museum over the last decade.

Liberty Science Center has also relied on 5 to provide regular updates on regulatory issues that are shaping energy markets in New Jersey. 5’s advisory services have helped Liberty Science Center to take both regulatory and market forces into account as they plan and forecast their energy costs into the future. Paola Amato, Director of Facilities at the Liberty Science Center said, “At a nonprofit like ours, keeping energy use efficient and reducing costs is a big part of the job. 5 has always been a terrific partner in these efforts.” Additionally, Chief Engineer Ronald Taglieri said, “We have faced a lot of unpredictable challenges in the past two years. 5’s partnership as we navigated our institution’s future was invaluable.”

5 is privileged to support and partner with an institution that is committed to inspiring the next generation of scientists and engineers through the power, promise, and pure fun of science and technology.

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Topics: Clients Procurement Demand Response Sustainability Renewables
5 min read

What are Carbon Offset Credits?

By 5 on October 28, 2021

On October 31, the 26th United Nations Climate Change Conference (aka COP26) will kick off in Glasgow, Scotland. This event will mark what many energy and sustainability leaders consider to be an important escalation in the global fight to reduce pollution and implement measures to address the effects of climate change. There is one developing environmental commodity, carbon offset credits, that continues to gain traction and we are excited to help clients capitalize on this new sustainability opportunity.

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Topics: Sustainability Education Renewables Resiliency
2 min read

Illinois Goes Green and Clean

By 5 on September 30, 2021

Illinois Passes Nation-Leading Climate and Equitable Jobs Act

On September 15, Illinois Governor J.B. Pritzker signed historic clean energy legislation, known as the Climate and Equitable Jobs Act (CEJA). Among many things, the CEJA requires Illinois to achieve a 100% carbon-free power sector by 2045, becoming the first Midwestern state to commit to ending the use of fossil fuels.

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Topics: Markets PJM Demand Response Sustainability Education Renewables Resiliency
1 min read

Client Spotlight: The Washington Tennis & Education Foundation

By 5 on July 30, 2021

The Washington Tennis and Education Foundation’s (WTEF) mission is to build life champions, giving children and youth a safe environment where they can excel. WTEF empowers them to achieve their highest potential by developing meaningful values and critical skills that lead them to life-long success through a pathway of continual academic, life skills, and tennis instruction during after-school and summer camp hours.

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Topics: Clients Case Studies Procurement Sustainability Renewables Resiliency
1 min read

A Website Worth Experiencing

By 5 on June 29, 2021

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Topics: Natural Gas People Culture Videos Procurement Demand Response Sustainability Education Renewables Resiliency
2 min read

NY is Unclear About Nuclear

By 5 on May 25, 2021

The State of New York may be a microcosm of our nation’s energy past and future. New York has been trying to balance nuclear power plant retirements with new gas-fired generation while also encouraging the development of renewable power assets. On Friday morning, April 30, the last functioning nuclear reactor at Indian Point was shut down. For the past 60 years, electricity from this nuclear power plant provided New York with 565 Terawatt-hours of electricity. Before the second reactor was shut down last year, Entergy, the operator of Indian Point, estimated that the output of the two reactors supplied the Lower Hudson Valley and New York City with approximately 25% of its electricity. Environmentalists and politicians alike have described Indian Point as a threat to the safety of the millions of people who live near the plant, located 35 miles north of New York City, and many cheered its removal from service.

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Topics: Markets NYISO Sustainability Renewables Resiliency
3 min read

Biden's Energy Priorities

By 5 on May 25, 2021

There are several interesting developments in Washington D.C. that could impact the nation’s energy markets. With the death of Alcee Hastings (D-FL) last month, the Democratic majority in the House shrank to a mere six votes and the Senate remains split at 50/50. The razor-thin Democratic majority means it is unlikely that Congress will use the traditional legislative process to pass new energy-related legislation. Instead, as was the case with the stimulus bill, the Biden Administration is expected to use the budget reconciliation process to pass an energy bill at some point this calendar year.

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Topics: Markets Demand Response Sustainability Education Renewables Resiliency
1 min read

Client Spotlight: Kenwood Country Club

By 5 on April 29, 2021

Kenwood Golf and Country Club has been in continuous existence since 1928. The clubhouse, golf course and its facilities cover over 100 acres of rolling countryside, located in Bethesda, Maryland. The Club is situated inside the Capital Beltway, only minutes from the Nation’s Capital, approximately seven miles from the White House and many other cultural and national attractions.

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Topics: Clients Sustainability Renewables Resiliency
2 min read

Client Spotlight: Hebrew Home at Riverdale

By 5 on April 29, 2021

The Hebrew Home at Riverdale by RiverSpring Living, located in New York City, serves older adults of all faiths through compassionate care and active community engagement. Guided by Jewish values for over 100 years, Hebrew Home is committed to healthy aging and the highest quality of life through innovative programs and services designed to meet the evolving needs of their residents. Hebrew Home is a nationally recognized long-term care facility that also provides specialized services, including elder abuse prevention and memory care to over 18,000 patients and residents.

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Topics: Clients Procurement Sustainability Resiliency