Leveraging Technology for Green Energy Procurement and Reporting on Sustainability Goals
Client Background
Berkshire Bank is a leading regional financial institution operating more than 130 branches across New England and New York. With rising energy costs and a corporate commitment to 100% renewable energy, the bank faced a complex challenge: how to manage a large, fluid portfolio while maintaining cost efficiency and sustainability compliance. The stakes were high, as branch closures could trigger early termination fees, and the organization needed a way to track and report progress toward its environmental goals.
Challenge
Managing energy procurement for over 130 locations was no small task. Berkshire Bank needed a strategy that would deliver competitive rates, ensure renewable energy compliance, and provide flexibility for portfolio changes. Without a solution, the bank risked higher costs, operational inefficiencies, and penalties from early termination fees. Additionally, the lack of visibility into sustainability performance made it difficult to demonstrate progress to stakeholders.
Solution
Mantis Innovation stepped in with a comprehensive procurement strategy powered by its proprietary Procure reverse auction platform. This technology enabled Berkshire Bank to secure competitive energy supply contracts while meeting its renewable energy objectives. The solution included 100% Green-e certified renewable energy, a 10% add/delete allowance clause to protect against early termination fees, and the procurement of Renewable Energy Certificates (RECs) to ensure compliance across the entire portfolio. Beyond procurement, Mantis provided real-time reporting capabilities, giving Berkshire Bank the transparency it needed to track sustainability goals and share progress with stakeholders.
Results & Impact
The impact was significant. Berkshire Bank successfully achieved 100% renewable energy usage across all supply contracts and REC procurement. The portfolio now covers 132 meters and 6,776,772 kWh annually, all under Green-e certified renewable energy. Despite the added premiums for sustainability and flexibility, the average rate of $0.096235 per kWh beat local utility rates, delivering cost savings alongside environmental benefits. With real-time reporting in place, Berkshire Bank can confidently demonstrate its progress toward sustainability goals, reinforcing its commitment to both operational efficiency and environmental responsibility.