Purchasing Methods

When it comes to procurement methods, you have options. Your energy advisor helps you determine which one is the best fit for your business.

Traditional Method

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Reverse Auction

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Traditional

In the traditional procurement method, each supplier submits one rate for each product on the RFP.

RFP Submitted

After meeting with you, your energy advisor submits pricing requests to the individual suppliers.

Pricing Received

Each supplier sends back one rate for each product and term specified in the request.

Results Compiled

Your energy advisor compiles the results into a Supplier Summary and Recommendation and talks through the supplier offerings.

Solution Selection

Your energy advisor obtains the agreement from your chosen supplier and sends it to you for signature. The agreement is time-sensitive – rates can change based on market movement.

Contract Execution

We submit the signed agreement to the supplier for execution.

Traditional Method FAQs

C&I energy consumers whose procurement processes do not require the use of an auction.

We send the request to the suppliers we work with that can offer the product you’re looking for and can provide service in your area.

The process can take 5-7 days, depending on utility requirements.

Typically, yes. Agreements are time-sensitive, and rates can change based on market movement. If you wait too long to sign the agreement, you could miss your opportunity to secure that rate.

Reverse Auction

In a reverse auction, suppliers submit multiple bids in real time using an online platform.

Pre-Auction Call

Your energy advisor schedules a pre-auction call with you to discuss product and term options.

RFP Submitted

Your energy advisor submits an RFP to participating suppliers that contains the specifications and instructions for the auction.

Live Auction

On auction day, suppliers log in to the platform and submit multiple bids in 20-25 minutes to try to achieve the lowest rate.

Results Reviewed

Your advisor discusses the auction results with you and requests an agreement from the winning supplier.

Contract Execution

We submit the signed agreement to the supplier for execution.

Reverse Auction FAQs

Large electricity and natural gas users whose purchasing processes require additional documentation, such as schools, municipalities, and manufacturers.

The suppliers can’t see the names of the other participating suppliers. However, they can see the current low bid and try to outbid it.

From pre-auction call to contract execution, the entire process takes 2-4 weeks.

The goal of the auction is to achieve the lowest possible rate on a given day. Given the nature and purpose of the auction, the expectation is that you’ll sign an agreement that day.

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Reach out to an advisor today to see how Nania Energy can help your facility achieve energy success.

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