February 2022 Volume 4

OPERATIONS & MANAGEMENT

Leveraging its extensive supply network and contract expertise, Transparent Energy went to work, running a competitive procurement that secured the buyer a new natural gas provider, straight-forward contract terms, and savings in excess of $120,000 over a 48-month term. Combined, the Transparent Energy online- auction process delivered term savings for electricity and natural gas Most energy buyers don’t have the time to dedicate to monitoring the ins-and-outs of the energy market and perfecting their energy- procurement strategy, and online auctions can help tremendously. The whole auction process is driven by efficiency, beginning with the planning done with the buyer months, even a year (ideally), in advance. This planning ensures bringing the buyer to market at the right time with the right expectations. The auction platform also enables the digital development and sharing of the RFP with the supplier community and all of the legal documents that need to be executed to streamline the final transaction. And transacting is key. Transparent Energy leads the industry with a 99%+ award rate – meaning its online energy procurement events nearly always result in an awarded deal with the supplier. This creates confidence in our process and drives additional savings for our customer. How so? Our real-time process, backed by high of $377,816. 3. Efficiency

confidence that a deal will be consummated, enables suppliers to eliminate risk premiums, driving down final prices for customers by an additional 1-2%. Risk premiums are prevalent in other procurement methods because the price of energy is always changing – if a procurement results in a customer asking a supplier to hold its pricing for an extra day or two, that supplier takes on added risk, and thus builds that risk into its pricing. Transparent Energy’s efficient end-to-end process and industry-leading award rate eliminate this need – another cost-saving win for auction participants. Conclusion The forging industry and other energy-intensive industries are discovering the ease-of-use and powerful cost savings – delivered without a cent of upfront capital – of online energy auctions. As more and more of your peers are gaining the benefits of this advanced energy-procurement technique, one that increases supplier participation and competition for your business while providing price discovery and numerous efficiencies, isn’t it time you brought this proven procurement method into your operations? NOTE: Transparent Energy is now an official partner of the FIA. Jane Seagraves VP, Association & Partner Development Transparent Energy, an FIA Partner Phone: 443-614-2846 Email: jseagraves@transparentedge.com

ENERGIZE YOUR BOTTOM LINE

HAS PARTNEREDWITH

Transparent Energy’s Online Reverse Auction helps members

Timing the market at least one year in advance of contract expiration

There is NO RISK to the member engaging in an auction. If the member is not satis ed with the pricing there is no obligation to sign a contract. Providing 200%-300% more suppliers to compete for your business Hyper-competitive pricing driven by the live auction event Providing a discount to members

An actual auction showing the price reduction achieved

CONTACT: Jonathan Le | PHONE: 945-218-2185 | jle@transparentedge.com | www.transparentedge.com

FIA MAGAZINE | FEBRUARY 2022 49