Rock Entertainment Group, ENGIE North America Announce Energy Agreement Custom Solution Designed for Unique Energy Profile
February 09, 2022
Cleveland and Houston – The Rock Entertainment Group and ENGIE Resources, a subsidiary of ENGIE North America, today announced a new multi-year retail energy supply agreement that represents approximately 100% of the annual electricity usage at Rocket Mortgage FieldHouse and the Cleveland Cavaliers training and development center, Cleveland Clinic Courts, in nearby Independence, Ohio.
“As one of the most active public sports and entertainment venues in the world, we constantly strive to realize the opportunities in energy markets and optimize our energy usage in a responsible, sustainable and efficient way,” said Antony Bonavita, Cleveland Cavaliers and Rocket Mortgage FieldHouse Executive Vice President, Venue Operations. “We trust ENGIE to help guide us in our drive to appreciate energy markets and develop our commitment to a lower carbon future.”
A customized supply solution from ENGIE Resources provides the flexibility and stability of locking in a price for a portion of usage, while the price for the remaining usage floats at the current market index price.
Another key element to the overall solution is that a pilot program will implement a process for all transmission and ancillary services billed directly from ENGIE Resources instead of the local utility, with charges based on actual demand. The venues will take advantage of savings that stem from its distinctive peak load characteristics versus higher pooled costs.
“The Cavaliers operate in a competitive environment, both on-the-court and within energy markets,” said Sayun Sukduang, Chief Executive Officer at ENGIE Resources “We’re happy to have developed a win-win solution that addresses price, risk, and the customer’s specific objectives.”
ABOUT ROCK ENTERTAINMENT GROUP
Rock Entertainment Group is the umbrella entity of the teams and venues that are part of Dan Gilbert’s Rock Family of Companies. It includes the NBA Cleveland Cavaliers, the AHL Cleveland Monsters, the NBA G League Cleveland Charge and Cavs Legion of the NBA 2K League; and the operation of Rocket Mortgage FieldHouse in Cleveland, Legion Lair Lit by TCP home of Cavs Legion in Cleveland, Cleveland Clinic Courts - the Cavaliers’ training and development center in Independence, Ohio. As the unified brand platform, Rock Entertainment Group formally links multiple sports, venues, music, and content properties together to better position them collectively for collaboration, growth and new opportunities, while relentlessly creating amazing experiences for fans, teams, partners, stakeholders and thousands of staff members across the full spectrum of properties.
About ENGIE North America
Based in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a global leader in low-carbon energy and services. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges. Together with our 170,000 employees around the globe, our customers, partners and stakeholders, we are committed to accelerate the transition toward a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. In North America, ENGIE helps our clients achieve their energy efficiency, reliability, and ultimately, their sustainability goals, as we work together to shape a sustainable future. We accomplish this through energy efficiency projects, providing energy supply (including renewables and natural gas), and the development, construction and operation of renewable energy assets (wind, solar, storage and more). For more information on ENGIE North America, please visit our LinkedIn page or Twitter feed, https://www.engie-na.com and https://www.engie.com.