VAYU ENERGY SIGNS €2.4M GAS DEAL WITH IARNRÓD ÉIREANN

Targetting Greater Cost Efficiencies and Energy Procurement Management

Wednesday, 24rd February 2016: Irish energy supplier Vayu Energy has signed a €2.4 million gas deal with Iarnród Éireann. The three-year agreement will see Vayu supply Iarnród Éireann with natural gas to meet the year-round heating requirements for its facilities and operations across the country. These include thirteen key sites across Dublin, Cork, Limerick, Kilkenny, Louth, Laois and Waterford.

Iarnród Éireann is the national rail services provider and is a large consumer of energy throughout the country, catering for 38 million passenger journeys each year. More effective energy procurement and management is an essential part of the company’s environmental sustainability programme, which has seen the Company achieve a 50% reduction in gas usage in its buildings since 2010.

A critical consideration for Iarnród Éireann in choosing Vayu as its energy partner is the ability to achieve significant savings in energy costs through direct access to wholesale market prices for natural gas. As part of a fully managed service, Vayu will also provide Iarnród Éireann with tailored procurement tools to monitor and manage energy demand, risk and performance in real time.

Willie Pierce, Environment & Energy Manager, Iarnród Éireann said: “Increased cost efficiency is a major focus for us across all aspects of our operations at Iarnród Éireann. We’ve achieved substantial reductions in energy costs over the last decade, cutting our overall energy consumption by 36% since 2006. Our aim is to build on this over the coming years through more effective energy management and procurement.”

“We’re therefore delighted to be partnering with Vayu and its team of energy specialists, who will facilitate us to procure natural gas more effectively. This contract was concluded following a competitive tendering process and represents a great deal for both parties.”

Stephen Behan, Energy Specialist, Vayu said: “Energy is one of the largest cost components for Iarnród Éireann and all Irish businesses, and it is an area where significant efficiencies can be achieved in terms of procurement and performance management. The drive towards greater cost competitiveness is changing the way companies source their energy, as they seek to increase efficiency and minimise the per-unit cost of energy purchased.”

Vayu Energy is the leading independent energy supplier in Ireland and currently supplies gas to over 20% of Ireland’s industrial and commercial market. Vayu believes technology has an enormously important role to play as a positive disruptive force in the Irish energy sector by putting businesses in the driving seat and allowing them to take full control of their energy decisions. This is the future of energy procurement and an area that sets Vayu apart from traditional energy suppliers.