Presto Casting Co. has contracted its natural-gas supply to U.S. Energy Services, which promises to “drive down energy costs by creating competition among energy providers, administering price risk-management practices to lock in lower prices, and working with utility tariffs to resolve energy-related issues.”
The Glendale, AZ, foundry produces premium-quality aluminum and magnesium aerospace castings. By shifting the plant to a third-party-supplied transport service, U.S. Energy expects to reduce Presto’s monthly natural-gas cost by over 25% below the current costs.
"Over the past couple of years energy prices have experienced extreme volatility, which is a big concern for us," explains Presto Casting controller Matt Verbin. "We are relieved that we can rely on U.S. Energy Services to assist us in curbing our energy costs."
Minneapolis-based U.S. Energy offers a portfolio of services that aim to achieve the lowest energy costs for its clients. Specifically, the company says it creates competition among energy providers in order to add value to its clients' bottom line. It also manages hedging and locks in prices for its clients.
"This is a new market opportunity for commercial and industrial natural-gas users in the Southwest region," according to U.S. Energy Services vice president Bruce Hoffarber. "We realize that many companies are not familiar with the notion of utilizing an energy management company, and we feel that Presto Casting Co. will benefit greatly from our knowledge of the natural gas industry."