Titus Energy started as a boutique practice within Titus Group, Inc., a Milwaukee based accounting services company. Titus Group was providing the back-office accounting services for Thermal North America, Inc., a start-up energy company funded by the Harvard Business School. Thermal was sold to Veolia in 2007. After the sale, two Thermal executives joined Titus Group to launch the Titus energy practice.
With access to financial executives in many large corporations during a period of rapid energy cost increases and growing environmental awareness, the Titus energy practice gained rapid success as the "go to" energy consultants. Among many other projects, Titus helped the state of Wisconsin eliminate coal from two of its power plants in Madison, helped an Indian Tribe build a unique facility that converts food processing waste into renewable energy and helped corporations with nationwide footprints eliminate millions from their annual energy spend. This work enabled Titus to build a portfolio of exceptional energy clients while developing a network of “on-demand” energy experts to match client needs.
A combination of the 2008 recession, lower energy costs from “fracking” and depletion of Federal energy stimulus funding ended the energy consulting boom. The Titus energy practice shifted its attention to advising on the development of renewable and sustainable energy projects for large, institutional developers and assisted in complex internal energy audit projects with the Titus internal audit practice. Our expertise allowed Titus to identify tens of millions of dollars in over-billings on public projects that were inappropriately single-sourced under the guise of "performance contracting."
While assisting several large energy users lower costs, we identified that Southeastern Wisconsin is significantly disadvantaged by high power prices compared to surrounding states and regions. We began to intervene on our clients' behalf in regulatory proceedings at the Public Service Commission in Madison, Wisconsin and helped form a public advocacy group to provide ongoing advocacy before the Public Service Commission of Wisconsin to lower energy costs for all customers and bring balance to the rate making process. To date, decision-makers in Madison have not been receptive to this message and everyone in Southeastern Wisconsin will soon be forced to pay even more for deferred costs and delayed regulatory action.
Titus Energy is combining technical, regulatory and financial expertise to help large energy users develop comprehensive strategies to lower energy costs through all available options.
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