The Ecova system will provide Rite Aid with rate monitoring and optimization aimed at ensuring that the company is paying the lowest energy cost available across hundreds of utility territories. Using site energy consumption data and proprietary utility tariff models, the system can evaluate and recommend optimum energy rate options as well as energy-related tax alternatives, Ecova says.
Ecova will provide the drugstore chain with aggregated billing information and energy use data through a dashboard system.
The energy management company says it has a client list 600-strong, and currently works with 40 percent of North America’s large retailers.
In November, Ecova announced it that it was to buy enterprise energy management firm Prenova. Ecova said that it planned to be the sole funder of the purchase, which should be neutral to its 2012 earnings. The transaction should close by the end of this year.