Energy Bill Auditing Saves Prenova Customers Millions

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Prenova has provided savings of nearly $15 million in 2010 to customers of its utility bill auditing service and is on pace to deliver $20 million in savings this year. An energy management service provider to leading brands, the Prenova’s Utility Management team audits thousands of customer bills each month and works with utilities to ensure billing errors are corrected.

Iit doesn’t make sense to reduce consumption, while ignoring billing errors. To achieve the maximum savings, you have to address both the supply-side and demand-side of the equation.

Prenova, Inc., a privately held energy services provider managing over $2 billion in energy spend for dozens of national brands, today announced customer savings from utility bill audits of over $14.5 million during the first three quarters of 2010. Provided as part of the company’s Utility Management solution, which also includes utility bill payment, opening/closing of utility accounts, and other key services, the Utility Bill Auditing process is designed both to identify billing errors and to resolve those errors on behalf of Prenova clients. The company is currently on pace to deliver $20 million in bill audit savings this year.

As an example of the savings a utility bill audit can deliver, Prenova has already saved one customer over $675,000 in 2010. In one case, the utility sent the customer an invoice that was 168% higher than their typical monthly bill. Prenova’s sophisticated auditing and review process easily identified the error. Getting the matter corrected, however, required extensive effort, including dozens of calls and emails to the utility. Though a new bill was quickly issued, it too was incorrect. Prenova worked diligently to ensure the customer was only billed for their actual consumption.

“Reducing demand for energy is only one component of a successful energy management strategy,” said Michael J. Nark, Prenova’s President and Chief Executive Officer. “For companies that are truly focused on controlling their energy spend, it’s also important to implement a comprehensive Utility Management program. After all, it doesn’t make sense to reduce consumption, while ignoring billing errors. To achieve the maximum savings, you have to address both the supply-side and demand-side of the equation.”

Prenova’s Utility Bill Auditing service helps reduce energy spend by carefully analyzing energy bills to ensure customers aren’t being overcharged. Prenova’s utility specialists audit each invoice, using proprietary algorithms to compare billing data with industry, company, and site-specific benchmarks. This process automatically identifies billing anomalies, flagging them for additional review. When an error occurs, Prenova contacts the utility directly and works to resolve the problem.

Key benefits of the service include:

  •     Identification of billing errors and other anomalies that lead to higher energy bills
  •     Elimination of the time and effort required to get errors corrected by utilities
  •     Electronic data capture and accurate reporting of energy consumption and utility costs
  •     Frees up internal resources to work on other assignments

Additional information about Utility Bill Auditing and Prenova’s other Utility Management Services can be found at http://www.prenova.com

About Prenova
Prenova helps companies control energy spend by reducing utility costs and improving energy efficiency. We work hand-in-hand with our customers to develop an energy strategy that fits their unique business needs. Then we help them implement this strategy consistently across the organization by providing services that span the entire energy lifecycle. From sourcing energy to controlling energy consumption, Prenova’s solutions can reduce energy spend by 10-20%. That’s why companies like Burger King, Costco, Dollar Tree, Foot Locker, and The Home Depot turn to Prenova.

For more information, please visit http://www.prenova.com.

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SCOTT BEAVER
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