The University of Minnesota (U of M) is the fourth largest public university in the USA, serving the needs of more than 70,000 students. Covering 360 acres and organized into 19 colleges, the U of M boasts world class research, medical, business, education, pharmacy, law, public health, management, engineering, and science schools.
Most large universities, including the U of M face unique challenges concerning energy management because of their geographic layout, differential age of facilities, and need for accurate energy budgeting.
The University of Minnesota consists of 5 geographically dispersed campuses. The customer was looking to outsource its energy procurement to a qualified partner who would help manage each campus as economically and efficiently as possible.
World Kinect reviewed the university natural gas and electricity suppliers and energy management approach, conducted a tender bid process to select more competitive & quality 3rd-party suppliers in addition to the local utility, and became the one-stop shop provider for energy procurement, hedging, and professional energy advisory services.
Procurement Advisory is the core of our energy management strategy. Monthly, World Kinect evaluates whether the U of M should receive natural gas supply through the local utility service or 3rd-party transport gas service. This method ensures that the U of M receives the lowest possible price for gas supply – coupled with higher reliability.
World Kinect also provides the U of M with a constant gas supply source even when the utility calls a curtailment during unusually high natural gas demand.
As part of our price risk management services, we execute gas hedges and purchases to meet the university’s price risk plan objectives. Ongoing assessments of market conditions are conducted to provide the U of M with the best-possible data guidance. Bill Validation Services produce correct and timely invoice management including review, audit, reconciliation, and payment of U of M’s energy invoices. Consumption & Cost Data Aggregation services deliver consistent flow of budget updates, hedge position reports, and cost/usage reports at the consolidated university level, campus, building, and meter levels.
University also consults with World Kinect regarding sourcing the best greener fuel blends that would not impair operations of the university boilers.
