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How to Time Your Energy Purchase – TMT

Video Transcript

Hey guys! It’s Becky here with this week’s Two-Minute Tuesday. In keeping with our theme of kicking 2021 off on the right foot, I thought I’d address one of the commonly asked questions I receive from my clients: When should I go to market?

Now there’s no proverbial crystal ball. Everyone knows that. But we used to gauge patterns based off of following weather. So you wouldn’t buy gas in the winter, and you wouldn’t buy power in the summer.

But as the last couple of years have shown us, that doesn’t really exist anymore.

Factors Impacting the Energy Market

We had some of the lowest natural gas pricing in 20 years in March of last year when there was still snow on the ground. The year before that, the fourth of July in 2019 showed us ridiculously low electricity rates.

So how are you supposed to know when to go to market?

Well, let’s slow down and look at the facts.

Year over year, we know that natural gas is down about 25 percent from this time last year. While the rig count has be steadily increasing, it still hasn’t returned to its full capacity.

Meanwhile, exports of liquefied natural gas are at record all-time highs. They’re receiving $14 per MMBtu right now in China, whereas here domestically they’re getting a little over $2. So there’s definitely demand increasing for exports.

However, demand domestically hasn’t returned quite yet. We’ve had a very mild winter, and we’re still experiencing some of the effects of COVID-19 shutdowns. This summer should prove some volatility to return as demand comes back online for both natural gas and power. We hope that production will follow, but at this point it’s still not up to capacity.

That all said, how are you supposed to make a decision on when you should be looking at your options to make an energy purchase?

A Shift in Perspective

I’d encourage you to switch the conversation from savings to risk management. Are you willing to look at some options now and potentially pay a little bit higher than your current contract to have safety and security and lock in for the next three years? Or, are you willing to take on a little more risk and ride the market and see how the change in political parties or social and economic factors play out? How is the vaccine going to have an effect on shutdowns?

It could go either way, it just depends on the risk level that you’re comfortable with as an organization and what you’d like to see as an end result.

So, I’d encourage you to have the conversation now with your strategic energy advisor just so you’re on the same page. You can set up some market watches to start watching pricing if you’re not quite ready to take action yet. But at least you’ll be in the know when the opportunity arises to make your energy purchase.

Thanks so much for listening, and we’ll talk to you next week!

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What is a Price Trigger? – TMT

Video Transcript

Hi! Welcome to this week’s Two-Minute Tuesday where we’re going to be talking about strike prices and fixed price triggers. We’ll be answering some questions about what those are and when someone might use them.

Strike Price vs. Price Trigger

A strike price is more of a technical investment term. When you’re looking at purchasing natural gas and electricity, we’re most likely talking about a price trigger.

A price trigger is when a client authorizes a set market price that the market might go down to, at which point a transaction might be automatically executed or approved to be executed.

When should you use a price trigger?

Here are a few situations where that might be used.

1) Slower Decision Making/Authorization Process

The first is when you have a slower decision making or authorization process. Good examples of this are school boards or condominium associations where they need to have a group vote in order to approve a transaction.

Obviously this isn’t very conducive with market volatility and moving quickly on a price. So what they might do is approve a price trigger and a specific target to be executed in the near future. In this situation, it would be automatically executed based on that target price, so they don’t have to go back and get additional approvals.

2) Multiple transactions

Another situation where someone might use this is a large user who is making multiple transactions. Think of a data center or a large manufacturer for whom energy is a significant cost in the price of their product.

In this case, they’re making many transactions over time, and they want to streamline that process so they can execute more quickly based on market volatility. In this scenario, they may or may not execute automatically.

Often, there’s a buyer or someone in place who can make those decisions, and what they really want is to be notified when the price hits that level so they can give a quick yes or no and then the transaction would occur. But the transaction wouldn’t be slowed down by paperwork or needing to get things signed right at that moment; it’s all been done in advance with the price trigger.

3) Market Monitoring

The third scenario is for market monitoring purposes. We use this often when we’ve got a client with a contract that’s up at the end of the year, and maybe we’re looking to see if the market drops below the current price for a client and we want to take advantage of that.

So in that situation, there wouldn’t be an automatic execution, but that price trigger would set off a notification to let us know where the market’s at so we can look at it and bring it to a client for evaluation and then to potentially make a decision on that.

So those are three different scenarios with three slightly different outcomes on a price trigger. But the core point is setting and approving a target price at which some transaction or notification is going to be exercised in the future.

If you think price triggers might be a good fit for you or if you just have general questions, reach out to your energy advisor for further details.

As always, thanks for watching, and please comment, like, or share below!

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MOPR Is NOT Someone Who Sulks – TMT

Video Transcript

Hello, I’m Michael DeCaluwe, Senior Vice President at Nania Energy. Have you heard the term “MOPR” recently in energy conversations?

In this week’s Two-Minute Tuesday, we’re going to be talking about what exactly MOPR is and what it means for you.

What is MOPR?

As the title mentions, MOPR is NOT a pessimist who sulks. MOPR stands for “Minimum Offer Price Rule.” 

It’s a new rule created by FERC, the Federal Energy Regulatory Commission, which regulates our regional electricity grids. MOPR only applies to PJM, the electrical grid that includes northern Illinois, Ohio, Pennsylvania, New Jersey, and Maryland.

This rule covers how capacity costs are set in this market. As we’ve mentioned in previous videos, capacity is a reliability cost that is set to make sure that the grid has enough power to cover periods of peak energy use. Think summer days when it’s hot and everyone’s AC is on.

Over the past few years, some states have enacted renewable energy mandates that have provided subsidies for certain types of power generators such as wind, solar, and even nuclear.

Some generators have complained to FERC that the existence of these state subsidies have given an unfair advantage to some in competitive capacity auctions.

In response, FERC ruled that the current model for capacity auctions in PJM is unfair and decided to change it. This new model is MOPR.

What does MOPR do?

Under MOPR, PJM will set resource-specific price floors for capacity bids, meaning that each type of generation resources (nuclear, solar, coal, etc.) will have a minimum price that they must place in the capacity auction.

The first new auction under MOPR will likely take place next spring for the 2022/23 planning year.

What does this mean for you?

For electricity consumers in these areas, this will likely mean higher capacity prices due to the price floors set by MOPR. Capacity currently makes up about 25 percent of electricity costs in PJM but could be much higher going forward.

What can you do about it?

The best way to avoid these higher capacity costs is to limit your peak demands in the summer, starting in 2021. Enrolling in a peak day notification program or doing energy efficiency projects to lower your electricity usage and demand are two ways you can reduce your peak demand values and offset some of this coming price increase.

So although MOPR might make you sulk, there are things that you can do now to help you prepare for its effects.

Hope that you found this week’s information helpful, and please be sure to like or comment on this video.

Thanks for watching!

2020 Transmission Rates Increases and Changes

By Michael DeCaluwe

Frequently, we see transmission rate changes that impact the costs on your electricity bill. Understanding these changes and what you can do to counteract them can help you control your annual electricity costs.

What are transmission charges on your electric bill?

Transmission charges are the costs associated with operating the electrical “grid.” The grid is composed of large high-voltage wires that you see running across the country that have a “zipping” sound to them. These wires are managed by an RTO (Regional Transmission Organization).

Your local electric utility pulls power from these wires and delivers it to your home or business at a voltage level that’s safe for consumption.

Depending on the market, transmission costs are usually part of a supplier’s cost or rate and are separate from the delivery costs charged by your local utility.

How are transmission rates determined?

Transmission costs are usually based on an RTO’s rate schedule. That schedule is approved and regulated by the Federal Energy Regulatory Commission (FERC).

Transmission costs typically have two moving components: the RTO’s rate schedule that may vary each year, and your account’ annual demand values that will also fluctuate annually.

When a supplier “locks” your transmission costs for a specific term, they take the risk that your demand values will not go up (resulting in higher costs) during the term of your agreement. They also take the current cost of transmission into account when fixing your rate.

2020 Transmission Rate Increases

FERC just approved an update to transmission costs for many of the delivery areas in PJM, the largest RTO (grid operator) in the United States. As a result, most areas are seeing an increase in their transmission costs.

Here’s a look at those updates:

Depending on the supplier, some customers may see an adjustment to their transmission costs on their upcoming electric bills.

What can you do to lower your transmission costs?

Lowering your electricity usage at peak times can impact both your capacity and transmission costs going forward. One way to do this is to receive Peak Day Alerts, which tell you the date and time that a peak day may occur. These alerts help you plan to reduce your usage during those peak times.

If you’re interested in receiving Peak Day Alerts or have any other questions about capacity and transmission costs, feel free to reach out to us.

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TMT: Choosing the Right Energy Product

Video Transcript

Let’s discuss risk. If we were having this webinar three months ago, we would be talking a lot about the cost savings versus your prior contract and how we hit some of the lowest prices in the last 20 years in February, which was just unheard of.

It would have been a very different conversation from today where we want to focus on cost aversion — avoiding any risk in the future given all the factors that we’re aware of today. Where we anticipate using those factors, where we anticipate energy prices to go, and what that means for you and your energy costs.

The biggest way to do this is through product selection. When a supplier uses “product” terminology, they’re basically meaning of all the moving components of your electricity or natural gas costs, how are you fixing those and what is the variability going to be from those month-to-month on your invoice?

Low Risk Tolerance Customers

So when we look at this meter, you see in that bluish-white area is for low risk-tolerance customers. You need a lot of budget certainty, you can’t have a lot of variation in the rate month-to-month, and you need to plan in advance for what’s coming down the pike. This would be more of a fixed product, or a fixed all-in. You’re taking all of the different components of your energy cost and locking them as much as possible.

When done correctly, you should in theory have the same per-kWh or per-therm cost on your invoice every month.

High Risk Tolerance Customers

If you go to the other side of the meter, you have the index or variable or floating type of products. These ride the roller coaster of the energy market. So you’re going to have a lot of variability.

There’s been some advantages to this certainly in the past year or two where prices have continued to come down continuously, so if you’ve been riding an index product you may have seen some of those record-low prices and been able to take advantage of that.

But on the flip side, now we’re facing volatility. And volatility, again, means a roller coaster. So if you have a little more bandwidth to have a higher risk tolerance, then this may be the kind of product for you.

Product type is going to look different for every organization. We’ve already seen where COVID-19 has affected every business (even within the same industry) very differently, and going forward a recession could affect every organization differently. So I would stress that you should really look at your internal risk tolerance — not only what it was in the past but also what it’s going to be going forward with all of the unknowns.

Current Energy Product Trends

A trend that we’re seeing right now is even some of our long-term clients that have always been on some type of float or index product are actually looking to fix as much as they possibly can. There’s a lot of uncertainty still up in the air. We don’t know a lot of things that are going to shake out from COVID and the recession and these other factors we’ve described.

So to be able to have control over a certain portion of your budget via energy, we’re seeing where people are starting to switch more to the fixed and low-risk types of products.

 

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TMT: Energy Challenges for Manufacturers

Video Transcript

Hi everyone, and welcome back to another Nania Energy Advisors’ Two-Minute Tuesday. I’m AJ Brockman, Nania’s Content Marketing Manager. Today we will be talking with Senior Energy Advisor and Mid-Atlantic Manager Mike Eckenroth about the specific challenges that manufacturers face when it comes to energy. So let’s get started!

Energy Challenges for Manufacturers

AJ: So Mike, when it comes to energy, what would you say are the top two to three challenges manufacturers typically face?

Mike E: Good question! I would say number one is probably how to reduce and control energy costs.

Manufacturing is typically an energy-intensive process. You’re taking a number of raw materials, putting them through your process, and converting them into what you want to make. And throughout that process, there’s a lot of energy consumed. So the concern is about how to reduce and control those costs to keep operational costs low.

Secondly, manufacturers want efficiency and confidence in their energy procurement, which isn’t always easy to have. There’s a lot of different choices available — brokers, advisors, consultants, suppliers and products — to choose from. Figuring out a process to determine which method to use for procurement is definitely a challenge.

Tips for Reducing Costs

AJ: And when you talk to manufacturers or decision makers in manufacturing, what sorts of tips or solutions to those challenges are they typically looking for?

ME: So to answer the second point, we did a broker versus advisor video a few months ago, so I recommend they check that out. But, really, it’s about finding an advisor or consultant that you trust and that sits on your side of the table.

You want them negotiating with suppliers on your behalf to achieve your goals. So you should feel that all of those things are being met by them, and I’d recommend interviewing a few different ones to get a feel of who has your best interests in mind and who you have the most confidence in.

Secondly, they’re looking to identify opportunities that they might not have seen otherwise. The number one way to do this is with an energy audit.

You have various operations that you’re doing day in and day out, and you might not realize there are opportunities in front of you for that. This could be things like LEDs or HVAC controls, variable frequency drives, water controls. An energy audit will identify those opportunities, and then we can prioritize those according to your ROI goals. So this is really about making you more efficient, doing more of the same output with less energy input, reducing those costs from that side.

Along that same vein is demand response. Demand response is a voluntary curtailment program during emergencies. So for a few hours of participation a year, a manufacturer could earn tens of thousands of dollars in payment for those.

This is particularly important for manufacturers because they usually have some control over when their energy is being consumed. They can schedule activities at different times and things like that, and so it’s typically a program that works really well for them.

And lastly is tax exemptions. This has been huge for manufacturers that we work with. Nania Energy is not a tax firm, we are not licensed tax professionals that can provide advice on taxes.

However, we’re aware of some exemptions that exist, and we can double check your bills for those. So if you are paying taxes and you shouldn’t be, that’s something we’ll be able to take a look at and either recommend you to one of our partnered tax firms or have you investigate it and recover that money (up to 48 months in some states) as well as remove that cost going forward. So that’s really low-hanging fruit that’s available for manufacturers.

Sustainable Manufacturing

AJ: Great tips, Mike. Lastly, I want to talk about green energy. Sustainability is starting to become more of a factor for both producers and consumers. What advice would you give to manufacturers who are interested in going green?

ME: So what we talked about with energy audits: even though it may or may not seem like that’s the easiest way to go green, it probably is one of the easiest. There’s a lot of wasted energy in a lot of different processes that manufacturers use, and there are ways to recover that. There are ROIs that are increasingly lower and lower to match those 2 and 3 year goals that some organizations have for that. So that would be number one: looking for those efficiency opportunities.

Number two is sourcing your energy with green power. Typically, energy supply agreements are going to be maybe 10 percent renewable, depending on your state or municipality. And there are opportunities for you to source 100 percent of your energy from renewable sources.

You do pay a little bit of a premium for it, but you’re talking about one to two percent, so it’s very manageable if green energy is a corporate initiative or an initiative for your organization. That’s definitely a way to achieve that.

And thirdly is on-site generation. This is typically a little less popular, mostly because you have to have the floor space or the space to dedicate to it. There are requirements, such as how long you’re going to be in the building, lease obligations, and ROI constraints that you have to sort through.

On-site generation is going to have longer ROI, but if you have the square footage or roof space to allocate to solar and you have a longer term that you’re willing to accept the ROI for, that’s absolutely something you should be looking into and could provide some of the results you’re looking for.

 

AJ: Great! Well thanks so much, Mike, for all of that great information. And thank you to everyone for watching our video! If you’re in manufacturing or you’re a decision maker for a manufacturing facility, tune in to our webinar on June 25th. We will be presenting some energy tips that are specific to you.

Thanks again for watching! If you found this video helpful, please like, comment, or share below.

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Pass-Through Product: An Alternative to Fixed All-In

Video Transcript

Hi everyone! I’m AJ Brockman, Nania Energy Advisors’s Content Marketing Manager. For today’s Two-Minute Tuesday, I’m going to be talking with Senior Energy Advisor Calvin Cornish.

With the effects of COVID-19 and everything else that’s going on right now, suppliers are starting to offer the Fixed All-In product less frequently. And so today, Calvin and I are going to talk about a product that is a good alternative to Fixed All-In.

What is a Pass-Through Cap & Trans Product?

AJ: So Calvin, what exactly is a pass-through cap and trans product and how is that different from fixed all-in?

Calvin: With a fixed all-in product, you have one set rate for all of your energy components. Your total energy supply cost is actually made up of several different components besides just the physical energy itself. The energy makes up about 60 percent of that total cost.

When you start to break those pieces apart, you take capacity and transmission (which are demand-based charges) and pass those through at their actual realized cost.

What are Capacity and Transmission?

AJ: Can you go into a little more detail about what capacity and transmission are?

Calvin: Absolutely. So capacity and transmission are dollars that are collected to incentivize the generation of electricity and taking care of the network. They are demand-based charges, which basically means that they’re based on your peak load usage over time as opposed to how much you use every day. So think of $10 per day as opposed to $.02 per kWh.

How Risky is a Pass-Through Product?

AJ: From a risk perspective, obviously with Fixed All-In and having all your components under one rate offering the most budget stability, where on that risk spectrum does a pass-through product fall?

Calvin: Well, when you’re passing through just capacity and transmission, it’s only slightly more risk than a fixed all-in product because those charges, as we mentioned, are flat dollar per day charges. They don’t change frequently, so we’re able to predict them with a lot of accuracy for the upcoming year. They change on an annual basis than, for example, energy supply which changes on an hourly basis.

AJ: So it still gives you that budget stability that you’re looking for without having your demand charges as part of your fixed rate.

Calvin: Yes, and in some cases it’s almost more budget stability because when you lock them in as part of the all-in rate, then your entire cost is affected by your usage. So you can’t control them.

When you pull out capacity and transmission, they’re no longer factors of your usage. And so those costs are actually going to be more dead-on with the predicted calculation.

What are the Benefits of a Pass-Through Product?

AJ: So besides budget stability, how does a pass-through cap and trans product benefit the clients who choose to use it?

Calvin: Well one of the benefits of passing through those demand-based charges is that they potentially can go down over time. If you improve your efficiency by doing a lighting project or some other way that reduces your peak load, then in the following year you’ll see a lower peak load factor. That factor is what is multiplied by your capacity rate. So you can reduce those costs over time by improving your efficiency.

What are the Drawbacks?

AJ: Are there any drawbacks to this product type?

Calvin: Well, the flip side of that coin is if your efficiency were to decrease over time. There is the potential for your capacity rate to go up. And as we mentioned, rates are fluctuating less for capacity and transmission, but they do change on an annual basis. So there’s a different rate each year.

Historically, especially in the ComEd market for example, those rates are known up to 3 years in advance, so we do still have a lot of stability there. But that is something that can change over time, so you could possibly see a different rate every year.

Who’s a Good Fit for a Pass-Through Product?

AJ: Finally, is there any customer type that you would recommend a pass-through cap and trans product to more over another type?

Calvin: I’d have to say that customers with a very predictable load, like a residential building or an office building, are good clients to pass those charges through. Additionally, clients looking for a high level of budget stability like schools who want their costs to not fluctuate as much as possible and be able to predict those costs. I think those are the best clients for this product.

A manufacturing facility or someone that has a lot of variation in their usage may have changing peak loads and may require a little more attention. They may actually want to pass through even more components to give themselves more flexibility to match up with their needs.

 

AJ: Gotcha. Well thank you very much, Calvin, for all of the great information! And thank you to all of you for tuning in to our Two-Minute Tuesday today. If you have any questions about pass-through products or any other product types, feel free to reach out to us and let us know. And if you found this video helpful, please like, comment, or share below.

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TMT: Energy Tips for Facilities and Operations Managers

Video Transcript

If you’re a facilities manager, Director of Operations, or COO, you deal with almost everything happening at your facility on a daily basis. And if you oversee more than one facility, your tasks and responsibilities are even greater.

In this week’s Two-Minute Tuesday, we’re going to dive into energy concerns specific to you and share some energy tips for facilities and operations managers that make the process easier for you.

Concern #1: Ease of Procurement Process

One of your concerns is that you need the procurement process to be as easy as possible.

With all you have going on, you don’t have time to sift through mounds of paperwork or charts or spend hours considering every option.

To make the process easier on yourself, consider working with an energy broker or an energy advisor.

They’ll do the heavy lifting for you — requesting pricing, communicating with suppliers, and comparing supplier offerings. Based on their findings, they’ll give you a proposal that clearly states their recommendation based on your facility’s needs.

Concern #2: Efficiency

You also want your facility to be operating as efficiently as possible to reduce your bottom line. Old or outdated machinery could be using more energy than necessary and causing you to be over budget.

To combat this, have an audit performed on your facility to identify possible inefficiencies. The audit will identify both immediate and long-term opportunities for you to lower your energy usage.

And as an added bonus, many utilities currently offer efficiency incentives, reducing your overall project cost.

Concern #3: Budget Adherence and Risk Avoidance

Another important aspect of your job is making sure you’re adhering to your budget.

Can you explain to your CFO why your projected energy costs were ten percent over budget? Are you sure it was due to increased production? What if it was something else?

Taking unnecessary risks with your energy can easily blow up your budget, and you don’t have time to examine the details of every available energy product.

An energy advisor or broker is well-versed in supplier product options and can help you select the one that makes the most sense for your facility. This should be based on your production schedule, sustainability requirements, and any upcoming energy efficiency projects.

Concern #4: Looking for Competitive Advantages

Lastly, you’re looking for ways to give your facility a competitive advantage.

In addition to a strong procurement strategy and doing efficiency projects, consider enrolling in a Demand Response program.

Facilities that choose to participate earn money for voluntarily reducing their usage during test events and peak usage times. The more you can curtail, the higher your payout, and the more funds you have at your disposal for site upgrades.

 

As a facilities or operations manager, you deal with so many variables every day. Your energy consumption and spend is an important aspect of this, but it doesn’t have to be overwhelming.

Keep these energy tips for facilities in mind when looking at your next project or agreement.

Thank you for watching! If you found this video helpful, please feel free to share it with other operations folks, then like or comment below.

TMT: Energy Management Tips for Property Managers

When it comes to managing energy costs, property managers face a number of unique concerns.

It’s not just you making a decision — you have to help your board make a decision and, ideally, make the best one.

You’re worried about:

  • Budget certainty
  • Getting competitive pricing
  • Showing you did your due diligence
  • Saving money
  • Proving that you saved money
  • And did I mention getting consensus from a whole group?

You can’t tackle all of those at once, but we do have some advice on how to address some of these concerns. In this week’s Two-Minute Tuesday, we’re sharing some energy management tips for property managers.

Energy Concern 1: Staying within your budget

One area you’re concerned with is making sure you stay on track with your energy budget.

To achieve budget stability over time, it’s important to stay at least a season ahead of your contract end dates. A good rule of thumb is to test the market 12 months in advance and be prepared to take action in that 9-12 month time frame.

There’s no secret sauce for timing the market. However, following this time frame will allow you the flexibility to avoid rate spikes and take some of the speculation out of the market.

Energy Concern 2: Getting a competitive rate

You’re also looking for competitive rates to save your board the most money.

For larger buildings, a reverse auction is a great option for maximizing transparency and supplier competition. The end result is the lowest possible price on a given day and a very clear documentation to provide the board with confidence in their decision.

For mid-size buildings, you can create similar results with a multi-step bidding process.

Energy Concern 3: Managing board expectations

Lastly, you want to manage your board’s expectations regarding savings potential.

When you’re working with efficiency projects big or small, managing board expectations is critical.

So often I’ve heard about boards who are dissatisfied with a project that is saving them lots of money because it isn’t as much as the sales guy said it would be.

Providing independent savings projections and establishing key performance indicators up front will go a long way to providing your board with the confidence necessary to move forward. It will also make verification of project success much easier.

Keep these energy management tips in mind.

As a property manager, you have a lot on your plate. But keeping these energy tips specific to property managers in mind will make this part of your job easier and keep you looking good to your board.

Thanks for watching! If you found this video helpful, send it to a fellow property manager, then like or comment below.

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TMT: Benefits of a Reverse Auction

Video Transcript

What’s the difference in electricity and natural gas supplied to you between one supplier or another?

The answer? None. They’re both commodities. There’s absolutely no qualitative difference if your supplier is Constellation, Direct Energy, or any of the other dozens of retail energy suppliers.

So, what does matter? Making sure that you’re getting the best effort from all qualified suppliers to provide your organization with the best results.

In this week’s Two-Minute Tuesday, we’re going to talk about how a reverse auction for energy procurement can compress supplier margin and drive energy savings for you.

How does a reverse auction work?

In a reverse auction, all qualified energy suppliers are invited to compete against each other in a live event that you can watch through an online portal.

With each bid, suppliers attempt to win your business by under-bidding one another. They can’t see who the lowest supplier is, but they can see the price to beat. This gives each supplier “last look” and dramatically improves the level of competition.

What happens when the auction ends?

At the conclusion of the auction, when no supplier is willing to go any lower, you’re left with the supplier who was willing to put their money where their mouth is. And the lowest possible energy rates achievable.

You’ll also have a report with time and date stamped bids from all suppliers during the auction.

Consider using a reverse auction for your procurement.

For commodity procurement, there is no more efficient and transparent platform than the reverse auction. But it’s important to note that the auction is just one tool in your energy management toolbox. You aren’t guaranteed the best results just by virtue of using one.

Your consultant or broker should also be:

  • Helping you develop an RFP that defines your energy goals and assists you in making the best decision
  • Monitoring the market for you to advise on the timing of your purchase, and
  • Partnering with you directly to meet the reporting needs of your organization.

When you’re considering options for your upcoming commodity agreement, check out a reverse auction. It might provide some valuable competition you might be missing from your process.

Thanks for watching! If you found this video helpful, please like, comment, or share below.

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