Since the Federal Energy Regulation Commission (FERC)......
Today’s blog has been written by Ryan Melowic Vice President of Customer Services at SafeSourcing.
Since the Federal Energy Regulation Commission (FERC) chose to limit its power to wholesale transactions, the road was paved for states to choose how they would allow price competition. This is also known as deregulating, which, means that companies can choose the gas and electric that is used at their business locations. It doesn’t mean eliminating of laws that protect against fraud, but reduces how business is done, thus migrating towards a more free market.
Currently, not every state is deregulated; please see which states are below.
Reverse Auctions have become best practice for energy procurement. By inviting multiple energy suppliers to a reverse auction hosted for your company, all suppliers are able to quote interactively during a set time which extends until the lowest rates are identified. The method ensures fair and translucent competition, these benefits suppliers who want to win more business and challenges the market to offer aggressive rates.
For more information on how we can help you with your procurement needs or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.
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