EnergyPricing.com is one of the leading energy procurement consulting companies in the nation.
What Is Energy Procurement?
Energy procurement is a buyer’s means of finding a retail energy provider (REP). The goal of procurement is to find a provider that offers a low price while still meeting your service needs. This process often involves researching rates and companies in the area to identify the best one.
Strategic sourcing, the umbrella method energy procurement falls under, is a popular institutional process. This practice requires regular evaluation of the energy procurement process to reduce spending. Strategic sourcing is a valuable practice for many products and services the buyers pay for regularly.
When buyers focus on improving their energy procurement, they must consider multiple factors. Procurement may have a primary goal of reducing costs, but this involves more than just rates. Buyers need to consider their budget and how their energy service fits into it. They also need to evaluate the current energy market and the factors that could affect price drops and hikes for the long term.
Overall, buyers need to consider the value of their provider. How does a retail energy provider match the buyer’s desire for risk? What are the buyers long term goals for energy efficiency? What is the projected growth of the buyer’s business going to look like? When a buyer can evaluate these factors, they can find a retail energy provider that meets their needs.
How Does Energy Procurement Work?
Energy procurement starts with assessing the current market conditions. Your expiring rate is often what people measure renewal rates against. However, that should not be used when analyzing new agreements. Prior contracted rates were based on previous market conditions, your previous load profile and not where we currently are in today’s market, both good and bad factors.
You should consider your prior years consumption and growth goals for your company. Once you have compiled your needs for the upcoming term, you can create a solid energy procurement strategy to evaluate the providers in your utility service area.
These strategies may be challenging to create on your own, so businesses often work with energy procurement consulting companies to make use of expert advice such as. EnergyPricing.com. We can offer market intelligence that helps you identify the best suppliers for your rate and term.
Together, with our Energy Advisor’s help, we can identify the supplier to create a contract that fits your terms and requirements. Energy procurement professionals help navigate the contract process to give you confidence in your agreement.
The main benefit of energy procurement is reducing spending and getting a better value for your money. More than that, the process can lead to greater profitability for businesses, and the process itself is relatively hassle-free. With market experts at your side, you can create a customized solution for your energy services and change your supplier as you need to.
Who Is Energy Procurement For?
In our modern world, everyone needs energy. Energy procurement can work for just about anyone who pays an energy provider. The process is valuable to industrial operations, commercial companies, government organizations, nonprofits, educational institutions, and even residential individuals. Whether you consume energy on a large or small scale, procurement could benefit you.
When it comes to commercial energy procurement, small businesses and big corporations can reap the rewards. For companies where profits may be inconsistent, like seasonal industries or retail, a procurement strategy can help you change your provider as your needs change.
Government agencies, educational institutions and nonprofit organizations often have strict budgets, making energy procurement valuable to your spending. If you can reduce costs on energy services, you can reallocate your funding to significant projects and helpful resources. These types of entities typically are required to receive multiple ‘bids’ on their utilities and other contracts. This is where a reverse energy auction benefits them because they can receive the bids from multiple providers in one location. They can easily show their organizations the best options for their energy procurement.
Whatever your circumstances may be, we can help you understand the market, meet your budgetary needs and work with a provider that caters to your risk requirements.
Energy Procurement at EnergyPricing.com — Save by Switching
EnergryPricing.com, we streamline the energy procurement process with reverse auctions. We will compile retail energy providers in your area and create an auction environment for them to bid for your service. The process starts at a low rate, and they will compete to provide the lowest price for your energy supply costs.
This form of energy procurement offers a quick solution with a transparent process. As the buyer, you will have access to watch the suppliers bid lower rates during the auction, validating your price within the market. Rather than calling individual providers and comparing rates yourself, the suppliers do the work for you in one location.
Our reverse auction software, paired with our expert Energy Advisors, will find a rate and service terms that work with your budget. When the auction is over, you can choose from a series of companies and their respective rates. Our advisors will help you find the best supplier for your needs, factoring in your long-term growth goals and risk appetite.
Reverse auctions are a good energy procurement strategy for companies of all sizes. You can count on EnergyPricing.com to provide simple energy procurement services when you need them.
Request a Quote From EnergyPricing.com to Get Started
EnergyPricing.com gives you the support and expertise you need for your energy procurement strategy. With reverse auctions, we can find a provider in your area that meets your needs.
We serve states in the U.S. with deregulated energy markets. From Pennsylvania to Texas, energy procurement services from EnergyPricing.com may be available to you. When you work with us, it is a long-term partnership. We will guide you through the auction process, help you find the best contract and give you any market advice we have.
After you sign your contract, we will check in to your new agreement started timely. You will even hear from us multiple times prior to your agreement expiring so that we can evaluate your renewal options. If you are ready for another auction, we are available to get one up and running.
To get started with our services, fill out a custom or instant quote to receive more information on your area’s energy prices. If you would like to learn more, reach out to our team today or give our office a call at 800-225-3813.