Priority Power Management Provides Supply and Infrastructure Solution to Prism Midstream LLC
Solution delivered critical electric infrastructure system and energy savings
MIDLAND & ARLINGTON, Texas--(BUSINESS WIRE)-- Priority Power Management, LLC (“PPM”), a Texas-based leading independent energy management and consulting services firm, has delivered an end-to-end electric energy solution to Prism Midstream LLC (“Prism”) for its new Bedrock Liquids Handling Facility (the “Facility”) in Crockett County, Texas.
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Prism Midstream LLC's Bedrock Liquids Handling Facility in Crockett County, Texas began operations on May 22, 2016. (Photo: Business Wire)
Prism began planning the development and construction of the Facility in the southern portion of the Midland Basin just north of Ozona a year ago. One of the challenges facing the project was securing adequate electricity service in a timely manner, while minimizing upfront capital investment and ensuring a low cost for electricity. After working with the local electric cooperative in the area and not being able to achieve their goals, Prism retained PPM to find a solution.
PPM analyzed Prism’s electrical needs relative to multiple utility networks in the area. PPM discovered that the Facility was geographically located in an area that the Public Utility Commission of Texas had designated as multi-certified. This meant that Prism could choose to have the Facility served by the local electric cooperative, or an investor owned utility (“IOU”). PPM orchestrated a competitive proposal process between the cooperative and the IOU to achieve the best overall value for Prism. PPM’s process resulted in Prism selecting the IOU, which eliminated any upfront costs for the IOU to extend primary distribution service to the Facility, established an acceptable timeline for service to be available, and gave Prism access to the deregulated competitive retail electricity market rates which saved them approximately 40% on ongoing electricity expenses.
Subsequently, Prism expanded PPM’s scope to include engineering, procurement and construction (“EPC”) services to develop an internal electric distribution system for the Facility. PPM developed and delivered a full turnkey EPC solution that included overhead and underground primary distribution, and secondary transformation to five (5) load centers within the Facility. The project was completed ahead of schedule and on budget.
“We could not be more pleased with the services we have received from Priority Power Management,” said Bob Dunn, President of Prism. “Before we met Priority Power, we did not know that we had options for our electricity service. When they outlined our options and the financial benefits, it was hard to believe. But, they delivered on their promises and so much more.”
“Congratulations to Prism Midstream for commencing operations of their Bedrock Liquids Handling Facility,” said John Bick, managing principal of PPM. “Our engagement with Prism was a classic example of PPM’s ability to leverage its unmatched knowledge and expertise in both electric energy delivery infrastructure and supply that created a seamless end-to-end solution, allowing Prism to focus on its core midstream business functions.”
About Priority Power Management
Priority Power Management, LLC (www.PriorityPower.net) is a leading Texas-based independent energy management and consulting services firm to large commercial, industrial and government customers. Priority Power Management provides unbiased and objective energy management services in the areas of energy information, supply and risk management, demand-side management and energy infrastructure solutions. Since its establishment in 2001, Priority Power Management has grown to procure and manage approximately $1 billion of annual energy spend on behalf of clients from its offices in Midland/Odessa, Dallas/Fort Worth, Houston and Abilene.
About Prism Midstream LLC
Prism and its management team are backed with capital commitments from Energy Spectrum Partners VI LP. Prism is focused on developing midstream energy infrastructure to support the emerging oil and natural gas plays in Texas and the Permian Basin. Prism offers transloading services in Reeves County, Texas, and owns two stabilization facilities in Crockett County, Texas. Prism also owns and operates a 153 mile gas gathering system in Leon and Houston Counties, Texas servicing natural gas and crude oil producers in the Eaglebine play.
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Priority Power Management, LLC
John J. Bick, 972-314-9040
Managing Principal
[email protected]
or
Prism Midstream LLC
Robert E. Dunn, 817-803-5267
President
[email protected]
Source: Priority Power Management, LLC
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