A Modest Beginning
In 2013, Morphotek was dealing directly with a supplier, and there were a number of pricing and regulatory issues consuming management’s time. They had been receiving our emails, and they asked us to review their accounts. We knew immediately that we could be of service: for openers, their gas contract was assigned to the wrong Rate Class. We worked with PECO to change the rate class, immediately saving Morphotek $20,000 on the remainder of their contract.
We did this initial consulting work pro bono, and – as we had hoped – it was the beginning of a long-term relationship that eventually saved Morphotek over $500,000.
A Long-Term Relationship
Morphotek subsequently signed three consecutive electricity contracts and four consecutive gas contracts with our assistance. They now have contracts in place to 2022 for both gas and electricity.
If you follow our newsletter, you know that we have been urging our clients and prospective clients to “go long” in order to lock up the historically low prices in electricity and natural gas. Heeding this advice, Morphotek signed their latest contracts more than 24 months prior to the expiration dates on their current contracts.
Sine the beginning of our relationship, we are proud to say that we have saved Morphotek more than $450,000 on electricity and an additional $80,000 on natural gas, for total savings in excess of $530,000. For the record, we always calculate savings versus the prior contract, not some inflated default rate. So these results mean that we saved Morphotek money over and over again, with each new contract.
What Can We Offer You?
We offer our clients two powerful advantages: