This is an actual result of a recent energy procurement auction conducted through The Energy Exchange. The only thing that has been deleted is the client’s name. Nothing else has been changed. This was the second round of bidding.
The client had already decided to go with a fixed contract and wanted to see the possible savings associated with various term lengths. Look at what is revealed on this simple, one-page Auction Result Report:
UPPER LEFT CORNER
- Summary of the client’s current contract (before the auction).
MIDDLE SECTION – Winning Bids
- The winning bids for each of the 5 possible contract term lengths
- 12 months
- 18 months
- 24 months
- 36 months
- 48 months
- The Annual savings associated with each option.
- The Term savings associated with each option
- In this case, the client elected to sign a 4-year contract, saving $170,000 compared to their current rate.
- Every bid from every participating supplier
- In this case, we had 16 suppliers bidding for the client’s business
- The winning bids are highlighted in yellow, and these are automatically posted to the Middle Section.
- Supplier #15 submitted the winning bid for the 48 month contract
- Supplier #10 was the winner for the other term lengths.
This is a perfect example of The Energy Exchange in action: Every Supplier. Every Price.