Utility Expense Optimization & Strategic Energy Auditing​


Tailoring a meticulous utility bill audit and energy cost management strategy for a substantial financial services conglomerate operating extensively in Michigan and Ohio.

COMPANY PROFILE

With its headquarters in Southfield, MI, and spanning 24 branch offices, the financial services conglomerate excels in offering a myriad of services, including banking, casualty insurance, financial planning, health benefit plans, retirement plans for companies, estate planning, and tax services, across Michigan and Ohio.

BUSINESS CHALLENGE

With numerous transitions within branch locations and an aura of suspicion surrounding potential inaccuracies in utility costs, particularly after acquiring and selling several properties, the conglomerate sought to gain a lucid insight into their utility expenses. The pivotal objective was to decipher and rectify any erroneous charges postulating on their utility costs.

SOLUTION DEPLOYED

CBI enacted a comprehensive audit of all utility expenses, encompassing natural gas and electricity, for all branches and the headquarters. This audit meticulously identified billing errors at the Southfield, MI headquarters, which manifested in a substantial one-time refund check of $21,999.38. Beyond this, CBI recommended a strategic alteration in electricity distribution codes, which ushered in an approximate $2,300/month in recurring cost reduction and executed a detailed delineation of baseline energy charges across all locations while aiding in invoice consolidation.Further, the audit illuminated inconsistencies in 3 accounts at branch locations regarding natural gas rate classifications, introducing an additional annual reduction in recurring costs of $2,000. CBI also spotted an opportunity to procure energy at a diminished rate and deftly negotiated a 10% reduction in natural gas costs across all locations.

CUSTOMER BENEFIT

CBI’s adept utility bill audit and management strategy paved the way for an accurate and transparent view of energy usage and costs for the conglomerate. Over the contract’s lifespan, CBI has engineered over $65,000 in reduced energy costs, with no requisite capital investments or out-of-pocket expenses, thereby reinforcing the financial prudence and operational efficacy of the facilities group.

CONCLUSION

Enabling a spectrum of financial and operational efficiencies, CBI continues to stand as a pillar of strategic utility management and cost optimization, ensuring clients like the financial services conglomerate not only envision but realize tangible, significant savings and operational enhancements.

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