Reverse Energy Auctions
While energy auctions are becoming more common, the reverse open energy auction process developed and practiced by Premiere Energy Auctions is unique in the industry for both the scope of suppliers involved, and the consistently optimal pricing and contract terms it delivers over traditional RFP based bid processes.
In general the auction process is reverse, because the consumer is not bidding on energy, the suppliers are bidding on the consumer’s business.
How It Works
The process is considered an open auction because our proprietary software technology allows suppliers to see each other’s bidding in real time, for as long as the auction runs. This allows them to adjust their bidding downward over a period of time in order to remain competitive. Our auctions are extremely customizable based on your business needs. They can take as little as one hour or up to 10 days, depending on the number of suppliers, the complexity of the client’s usage profile, and most importantly the underlying contract terms being offered by each alternate energy supplier.
In general our Open Reverse Energy Auction process has the following steps:
Clients meet closely with Premiere’s consultants during the Strategic Energy Review and again to review the results of the auction. At this time your Premiere consultant will offer his analysis of offers on the table and will work with you to develop a negotiation strategy that insures your Energy goals and terms are met. No other energy consulting company provides this level of partnership to insure the most favorable and stable terms for your company’s energy future.
Lowest Price Does Not Mean the Lowest Bottom Line
It is important to keep in mind that in the energy marketplace, the lowest price for electricity, is not always the best deal. Every energy supplier has contingencies, terms, cancellation and usage or language that may be invoked over the course of a contract, which can dramatically increase your energy costs over and above the stated price per Kilowatt-hour. Consequently, the importance of working with a qualified energy consultant during the selection and contract negotiation phases cannot be overstated. Premiere provides this kind of expertise in addition to the auction process as part of our unique partnership with our clients. Our consultants will work closely with you to ensure the selection of the right energy pricing and terms for your strategic energy needs. We have negotiated thousands of these agreements and in every case we negotiate 100% on behalf of our clients’ best interests.
Call Premiere Energy Auctions today for an analysis of your energy profile.
At Premiere, we do energy right.