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Renewable Purchase Reduces Vassar’s Energy Costs By $225,000
Stamford, Connecticut, February 26, 2020 – Tradition Energy announces that it has advised Vassar College, Poughkeepsie, New York, on a multi-year renewable electricity purchase that will power their entire 2.3 million-square-foot campus. The agreement accelerates portions of Vassar’s goal to achieve carbon neutrality by 2030.
At the time of the procurement transaction, the cost of buying electricity generated purely by renewable sources was slightly higher than purchasing power generated by carbon-generating sources, such as natural gas and coal. However, the expertly-timed contract renewal process managed by Tradition Energy, Vassar’s advisor since 2014, enabled the college to reduce its budget by $225,000.
“Vassar’s plan to achieve carbon neutrality takes many forms, and one key component has always been moving to 100-percent renewables,” said Sustainability Director Micah Kenfield. “By executing the renewable energy purchase now, we will eliminate more than 2,500 metric tons of carbon emissions per year. That’s almost a 10-percent reduction from our baseline year of 2005, the equivalent of taking more than 500 cars off the road,” added Kenfield.
“We are thrilled to be supporting Vassar College’s ‘Carbon Neutrality by 2030’ initiative with this renewable energy purchase,” said Alan Kurzer, CEO, Tradition Energy. “Vassar’s green purchase follows a continuing trend set in part by higher education and local governments that have committed to achieving aggressive carbon neutrality goals. Everyone at Tradition Energy is proud to be a partner in ‘earth-first’ endeavors like these.”
Scott Merrell, Senior Director, Marketing, 713-609-9922 Scott.Merrell@TraditionEnergy.com
About Tradition Energy
Tradition Energy is one of the world’s largest and most experienced energy risk-management and procurement advisers. Tradition serves more than 1,300 clients ranging from Blue Chip companies to medium-sized businesses to public sector organisations, with over 80 billion kilowatt hours in energy usage and more than £12 billion in energy spend managed. Clients partner with Tradition Energy to manage their energy price risk exposure and to develop and implement risk management strategies to control and reduce their energy expenditures. Tradition Energy is part of the Tradition Group, one of the world’s top 3 institutional brokers of financial products and commodities with over 2,300 employees in 29 countries, publicly listed on the Swiss stock exchange (CFT). www.TraditionEnergy.co.uk