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.
- The Future of Operational Risk Management: The Oil & Gas and Chemicals Approach
- Solar Request for Proposal (RFP) Guide
- 2015 Environmental Leader Product & Project Awards
- Improve Your Company's Environment and Energy Performance
- Unlocking the Value of Energy & Operational Data
- NAEM 2015 EHS and Sustainability Software Buyers Guide
- Smart Companies Utilize Integrated Energy Solutions
- 2013-2014 Winter Polar Vortex
- Combined Heat and Power
- How "Fixed" is the Fixed Price Product?