Logical Buildings, an energy software company that provides commercial
and multifamily owners real-time, data-driven insight into the operating
performance of their properties, today announced the launch of EPAX™,
a first-of-its-kind energy risk management tool that provides new levels
of insight into and control over energy procurement, creating new
opportunities for intelligent planning and reducing costs. EPAX empowers
facility owners to break free of the status quo, where they must
navigate complex energy markets and pay broker fees to mitigate energy
price risks, making it easier than ever to make excellent decisions when
purchasing energy contracts.
EPAX is unique in its ability to break down complex market data into
simple choices for property owners and managers, allowing them to secure
the best-possible contract terms, as well as organizing and managing
energy utility accounts for large, diverse portfolios. The EPAX software
platform monitors energy markets in real time for price changes and
potential long-term cost savings and notifies property managers of these
opportunities on a daily basis, providing a transparent platform to
procure energy with optimal terms and covenants while also mitigating
risk.
EPAX works with Logical Buildings’ SmartKit AI software and mobile apps,
which provide data transparency and actionable demand management
protocols that reduce supply side procurement costs. With EPAX
incorporated into SmartKit AI, property managers can simultaneously
change the temperature in the lobby of a New York City high-rise and
measure their cumulative risk exposure if New York electricity prices
were to rise by 10 percent this summer. Logical Buildings ensures that
decisions made at the individual building system and portfolio risk
management levels are synergistic, maximize energy savings and are both
property level and C-Suite user friendly.
For a specific portfolio, EPAX analyzes data from thousands of utility
accounts and smart meters, then uses machine learning and predictive
analytics to precisely forecast energy consumption. The platform then
synergizes that data with forward-traded energy markets to reveal
multiple rate options with optimal term structures–and the estimated
savings associated with each one–for purchasing energy in the future.
The platform delivers these insights via text, push notification, voice
activation, and email. With its suite of intuitive analytical tools,
EPAX puts property owners (including owners of large portfolios) in the
driver’s seat of managing their energy risk profile across multiple
markets.
Once EPAX determines the optimal term, rate structure and supply
contract covenants, a user can quickly jump onto lower-priced contracts
via competitive, transparent reverse auction, in which suppliers compete
in real time, resulting in low-price bids that do not favor any
individual supplier.
Energy Risk Transparency
Today’s emerging technologies are solving major energy risk management
pain points for portfolio managers and providing unparalleled
transparency to a market historically opaque and still dominated by
brokers. EPAX summarizes and draws insights from thousands of utility
accounts on a cloud-based application, measuring and indicating forward
energy pricing, usage, expenditures, risk exposure, contract expirations
– all tailored to a portfolio’s unique load profile. EPAX also provides
automated energy budgeting, bill auditing and Measurement and
Verification of energy performance.
Comprehensive Energy Management by Logical Buildings
EPAX marks an important development for technology company Logical
Buildings, a fast-growing smart building and energy management software
company, as it expands its offerings to address the full suite of energy
challenges faced by portfolio managers. “We are fortunate to have spent
a lot of time with portfolio managers over the years, listening to them
describe how opaque and arbitrary their energy procurement process is,”
says CEO of Logical Buildings, Jeff Hendler. “Every feature of EPAX is a
response to specific pain points from our clients.”
About Logical Buildings
Logical Buildings is a smart building technology software developer, IoT
and DER systems integrator and smart building services provider.
Integration of Logical Buildings’ products and services in large
multifamily and commercial properties materially reduces operating
expenses, generates revenue from existing mechanical equipment, enables
Wi-Fi connectivity, and improves building operations/fault
detection/resiliency. Our clients are market leaders and are integrating
our SmartKit AI Platform services and technologies – increasing net NOI
and NAV property by property. The platform was built by energy and
telecommunication systems engineers and our shareholders – owners and
developers of more than $10 billion of multifamily and mixed-use
properties. Logical Buildings (formerly Energy Technology Savings, Inc.
or ETS) is committed to growing your building’s revenue while reducing
its energy and operating costs and enhancing tenant lifestyle. For more
information, visit www.logicalbuildings.com.
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