How Does The Reverse Auction Program Work?
Please complete the data request form on the auction page. Once we receive your information, you will be contacted by one of our large commercial business development professionals to review your information, and to ultimately schedule your live auction.
We work with some of the biggest names in the energy industry. Our experienced staff carefully screens each company for financial stability, the presence of experienced management and a track record of trustworthy customer service. Simply put, electricity and natural gas suppliers have to be exceptional to be included in our search results.
Once your auction is scheduled, you will be provided the time and date of your auction along with login credentials so you may view the auction as it takes place. If the suppliers provide an acceptable bid (strike price), you can initiate the buy in the live format and move to contracting, etc. Selected energy suppliers will then bid on your business, competing to provide the best service at the lowest cost to you. At the end of the auction, you will be able to view the best bids from a large number of suppliers and compare bids to the market price to get a clear picture of what you’re saving.
Essentially, reverse auctions build on the traditional procurement approach of developing a Request for Proposal (RFP) and soliciting bids from energy suppliers to be evaluated. Rather than offering an opportunity for each supplier to put in their best bid, the RFP for an energy auction will invite a large number of suppliers to participate in a live event, where they can see the current bids being offered to the customer by other suppliers. Energy buyers can rest assured they’ve received the best available price after using the openly competitive and transparent process provided by reverse auctions.
OUR TEAM WILL STAY WITH YOU FOR THE ENTIRE PROCESS – AS WE DEVELOP THE CASE TO INITIATE THE AUCTION, RECRUIT THE SUPPLIERS TO PARTICIPATE, AND ADVISE ON WHETHER THE BIDS ARE CREATING AN ADVANTAGE FOR YOUR COMPANY – OUR CUSTOMER.