Etek Success Stories

Energetek manages Cardone’s North American energy portfolio, providing a range of services including third-party supply contracts, energy efficiency audits, Energy Star reporting, and mandatory benchmarking. Total estimated savings throughout Etek’s relationship with Cardone thus far amount to $125K. Energetek works closely with Cardone’s sustainability team in the evaluation of green projects and initiatives, conducting competitive RFPs for renewable options and acting as the lead project manager for these endeavors.

Being a public entity that is usually subject to a bid process, Energetek was able to provide procurement services without an RFP/Q because of our DCA/State-approved auction platform. With market volatility at the time of contract execution, Energetek strategized a basis contract for both power and natural gas, which sets up hedging opportunities for Haddonfield as the market comes down.

With the high volume of natural gas that Mayfield Greenhouses incurs monthly, Energetek was able to hedge consecutive fixed 10-month terms, while floating back to PSE&G for each January and February. Energetek’s team compared the hedged option to longer-term contracts and determined that it was more cost-effective to incorporate a market-based option. The client’s new term and rate keep their weighted yearly average lower than staying strictly with the utility or selecting a longer term.