Climate change, increased demand, and fuel costs for power generation are just a few examples of factors affecting energy pricing today. This whirlwind of elements entails an inherently complex market that’s difficult to navigate solo — yet some businesses decide that that’s what’s best.
But how does doing energy procurement alone compare to partnering with a consultant? While a lone-star approach can offer more control, it requires significant time investment and extensive market knowledge to lock down a contract that not only suits your business’s unique needs but is fair and just in its pricing, too.
We’re here to shine a brighter light on the benefits of energy consultants and how they can help you navigate the complexities of this ever-changing market.
What To Expect at Each Stage of the Procurement Process
From securing the best possible rates to building long-term energy strategies and managing contract renewals, we’re shining a light on the reality of energy procurement and what businesses can expect whether they choose to work with a consultant or conduct a one-person show.
Finding Suitable Suppliers
Securing the best rates is a numbers game. The more suppliers you know or have relationships with, the larger the pool of candidates you have to pull from. If you’ve never switched suppliers before or have worked with the same one for a long time, you may have limited options.
Consultants build supplier relationships for a living and often have strong, long-standing bonds with many — meaning you can choose from a broader selection of plans and receive the added benefit of a well-built partnership. EnerConnex has one of the largest supplier networks in the country to ensure that you’re getting the best rate possible for your energy supply.
Securing the Best Rates
When it comes to securing favorable energy rates in unregulated markets, it’s all about inciting healthy competition. Unfortunately, that can be difficult to do alone. It demands in-depth manual research of suppliers, which you’ll need to contact individually to inquire about rates. There’s no bidding process and thus no incentive for them to offer you lower prices.
On the other hand, a consultant like EnerConnex will conduct competitive bidding events through a proprietary pricing platform, gathering bids from all kinds of suppliers. In as few as 7 days, results will reveal which suppliers are willing to offer you the lowest price possible for your contract.
Navigating Market Volatility
While it may be cliche to say that an industry is ever-changing, it couldn’t be more true for energy markets. Myriad factors influence energy pricing, like weather, geopolitical events, supply and demand, and economic growth.
Tracking down and securing fair rates necessitates continued education on these factors and others. Energy consultants come armed with a deep understanding of how energy markets operate and how particular events can affect pricing, acting as trusted advisors to help you make the right contract choice with confidence.
Streamlining Processes To Save Time
In-depth contract analysis can eat away at your valuable time — especially if you aren’t entirely sure what to look out for. Consultants help streamline energy procurement processes, handling contract negotiations, management, and all subsequent paperwork.
Managing Bills and Resolving Disputes
It’s not uncommon for contract disputes to arise during negotiations or payments. Without assistance, business owners need to carefully review complex bill structures and, if they identify an error, initiate an irksome dispute process.
Consultants help business owners save time by reviewing and analyzing bills to identify errors and request adjustments on your behalf — so you can be confident knowing you’re never overpaying for your energy and focus on what matters most — your business.
Building a Long-Term Strategy and Managing Contract Renewals
So, you’ve identified a suitable supplier and secured a favorable contract. That’s great! Now, you can forget about it until it’s time to renew, right? Not exactly.
Oftentimes, the optimal time to renew a contract isn’t on its end date, but whenever rates are lowest. And because prices fluctuate all the time, the best time could be any time. So, business owners must stay informed of market conditions and proactively seek new contracts before their current one expires.
Consultants, on the other hand, proactively monitor market conditions and advise on the best possible energy strategy moving forward. That could mean an early contract renewal, supplier switch-up, or even moving away from the unregulated market and onto the local utility grid. Whatever will get you the best price and the highest reliability based on your needs, your consultant will help you achieve it.
EnerConnex: Your Trusted Partner in Energy Procurement
By now, it’s as clear as a sunshiny day: An energy consultant can be your secret weapon for navigating the energy market. They demand the best rates, untangle contracts, and free up your time while keeping your business bright and on a path of continued success.
Contact us today to learn how EnerConnex can help you navigate the challenges of an increasingly complex energy market.