Commodity Management » Samuel & Son Co.
"360 made us part of the process. Now we understand natural gas and hydro. Our partnership with them has helped us to manage our energy business better by substantially reducing costs. We heard 360 was the guru of utilities and in one conversation, we could tell that 360 knew what they were talking about with respect to the market, as well as utility knowledge. In fact, in the first quarter alone, we experienced a gas cost saving of $95,000. 360 has put us in sync with our energy needs. They’ve provided us with the knowledge we need to be energy smart." - Freda Francis
Samuel is an industry leader in the processing and distribution of metal, plastics and related products and services.
Rising energy costs led company officials to identify the need for a program to help them manage their energy costs as well as conserve energy. For several years, the energy team at Samuel worked with a variety of vendors and agents, but they were not satisfied with the level of customer service and the unwelcome financial surprises resulting from volume-balancing issues.
Through the recommendation of a peer company, Freda Francis, Corporate Commodities Purchasing Manager, was introduced to 360 Energy Inc. and their team of experts. 360 worked with Samuel to identify and act on energy-management solutions for natural gas, and later with electricity.
KNOWLEDGE IS POWER
360 counseled Samuel by providing the knowledge they needed to buy natural gas effectively, with a comprehensive energy-management plan, including the volume balancing of natural gas. 360’s comprehensive reporting system enabled Samuel to forecast natural gas needs, which resulted in a cost avoidance of $365,000 in one year.
THE SAVINGS CONTINUE
Energy information is now transferred internally to all levels of management, throughout every area of business from corporate and site through to purchasing and legal. In fact, other divisions of Samuel are benefiting from this knowledge; the Samuel Metal Processing division saved $95,000 on natural gas in just one quarter. 360 also developed an electrical awareness program that is helping Samuel manage electrical pricing and usage. Through this program, Samuel trimmed its electrical costs by about $71,000 in half a year.