3 Things to Consider in an Energy Procurement Contract
There are three major mistakes that some companies make when entering into an energy procurement contract, according to Nick Papamichael of Green Crown Energy.
The first is bad timing. There are very specific times of the year when electric and natural gas prices retreat and times when they spike. It’s advantageous to be aware of these times in each particular market.
The second mistake that businesses make is not negotiating the terms and conditions, including bandwidth, termination, and ancillary costs.
The third mistake, according to Papamichael, is not properly identifying and selecting the right energy product, including the many hybrid products.
Green Crown Energy also recommends that a company do a background check on any energy consulting company it authorizes to negotiate gas and electric contracts, checking to see if they are licensed and what type of experts they have on staff.
- Six Essential Steps to Drive Effective Energy Management
- How to Use Lean Tools to Cash In On Environmental and Energy Savings
- Top 3 Reasons to Calculate Your Environmental Footprint
- 2014 Insider Knowledge Report
- Trends in Energy Management: Where Should Your Next Investment Be?
- Sustainability Reporting for Commercial Real Estate: GRESB
- Integrating sustainability into your ERM framework
- Essential Guide to Lighting Retrofits and Upgrades
- 2014 Environmental Leader Product and Project Awards
- BuildingIQ Security
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management
- Energy Procurement in 2014: Products & Programs to Optimize Savings
- BUYING STRATEGIES IN A VOLATILE MARKET: What Businesses Need to Know about Retail Electricity Procurement