Priority Power Management Provides Supply and Infrastructure Solution to Prism Midstream LLC
Solution delivered critical electric infrastructure system and energy
savings
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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