About Bucks County Technology Park
Bucks County Technology Park, or BCTP for short, is a large business park in Trevose, Pennsylvania, just off of I-95 and the PA Turnpike. It is an owner-occupied and operated building with extensive on-site amenities.
The Advertising Specialty Institute (ASI) owns the building and is also a tenant. This alleviates some concerns that business owners might have about operating on a property with an absentee landlord. Any improvements to BCTP don’t just help the tenants, but also ASI. These could be tangible qualities, such as on-site security and a daycare, but also intangible benefits, such as cost savings on energy use.
The Challenge
ASI used to operate out of five buildings but moved those operations to BCTP. Even with all the space ASI requires, there was still plenty of room in the building, so they decided to lease out other parts of it. As you might imagine, BCTP is quite large; 400,000 square feet.
As you might imagine, such a large building requires a significant amount of energy. The property has single-line, high-tension power coming to the building. BCTP has flexibility in what they charge their tenants for electricity, so the team at BCTP knew that if they could save money on energy, they could pass those savings along. This would attract more tenants, cement positive relationships with current tenants and save themselves money on energy, too.
Stephanie Schaeffer, President of Bucks County Technology Park, explains that, with more than a dozen tenants, she and her team want to make sure to “keep costs down, because the more we can save, the better service we can provide” to their tenants. However, she admits she’s not an expert in energy contracts. But Jim Hooven is.
Jim is the EnerConnex rep who works with BCTP. He has worked with them via strategic partnerships through EnelX for over a decade. He’s earned the trust of Schaeffer and her colleagues. “We really trust the guidance and the historical information that he gives us.”
“He looks in the market and helps us lock in the best prices,” Schaeffer explains. “I think that’s really valuable, especially for [BCTP] with high-tension rates.” But this isn’t the only thing that makes BCTP’s energy stand out.
Joining the Demand Response Program
Jennifer Lydon, CFO, explains: “We also have three generators to fully back up the power for this facility. That makes us unique not only in our area, but unique for a building of this size.” EnerConnex recognized this uniqueness and brought an opportunity to BCTP’s attention. “Because we have generators, we could join the ELRP,” Lydon explains.
The Emergency Load Response Program (ELRP) is a demand response program. It encourages heavy energy users to reduce their consumption during periods of peak demand. BCTP is perfect for this program because of its size and generators. When demand is high, PJM Interconnection notifies BCTP, and they can hop off the grid and use their generators instead for a financial reward. This opened up a whole new revenue stream for BCTP.
Cost-Savings + Revenue
BCTP felt comfortable with EnerConnex’s responsiveness and the detail of their explanations.
Schaeffer: “I feel there’s more of a seasonal nature to energy markets than I ever realized.” EnerConnex brings a forward-curve with a historic knowledge of how pricing moves.
EnerConnex helps them fix their energy contracts so they can budget accurately, locking-in prices so utility costs are cheaper than what competitors can offer. By removing monthly variability, tenants can better forecast expenditures.
Tenants appreciate negotiating group rates on their behalf. Schaeffer: “Post-COVID, office buildings have faced serious challenges. For us, we attracted three new tenants last year, [partially] because we’re able to provide budget certainty for them.”
From customized procurement strategies to demand response participation, EnerConnex has become a trusted extension of the BCTP team. As energy markets evolve, this partnership continues to position BCTP and its tenants for long-term resilience and success.