“A nice merger of solutions that can do a lot to support the energy industry. The integration of the dashboards with live auctions brings a new level of visibility to the customer.”
–Energy Manager Today Awards judge
EnerNOC provides businesses with reliable energy procurement decision-making software and support, including load and financial analyses, market trend monitoring, supplier negotiation, risk assessment, and strategic advice. With a blend of expert professional services and cutting-edge software capabilities, EnerNOC’s procurement provides the market visibility and strategic management necessary to ensure businesses secure power contracts with the lowest rates and most favorable terms, the company says. Options to procure renewable energy or other distributed energy resources (DER) are also available, enabling businesses to increase their portfolio share of clean energy and meet their broader sustainability goals.
When an organization decides to pursue an auction, EnerNOC’s procurement experts run analytics to get an understanding of their energy and financial needs based on year-round operations, then create electronic RFPs to solicit to the suppliers in the organization’s market.
One particularly innovative aspect of EnerNOC’s procurement product is its real-time reverse energy auction platform, the company says. By compelling suppliers to compete fiercely for the purchaser’s business, the platform obtains prices from hundreds of suppliers in a matter of minutes, ensuring purchasers get the best possible price on energy.
A prime example is a New Jersey hotel owner who earned six-figure savings for a portfolio of just 3 properties. With the electricity contracts at these properties soon expiring, the purchaser turned to EnerNOC to collect energy usage data for each hotel, develop and market electronic RFPs to the supplier community, and run a series of online reverse auctions to create a hyper-competitive marketplace where suppliers shed margin to win business. As a result, 135 bids were placed by 14 suppliers over the course of one hour and six auctions, yielding more than $370,000 in energy-rate savings over a 24-month term.
“The system can work to a great benefit to industry,” said one judge.