Electricity & Gas – Live Reverse Auction

How Does A Reverse Auction Work?

As part of Optelcon’s Cost Containment Network, we have partnered with EMEX®. The EMEX® Reverse Auction is an innovative platform that has created a strategic shift in how energy is bought and sold throughout the country. EMEX’s real-time competitive bidding technology has become a game-changer because of its ability to uncover the lowest rates for business and government entities and is considered a best practice for energy procurement. By inviting the most competitive energy suppliers in the market to bid in a reverse auction hosted exclusively for your company, all participants are able to bid and counter-bid in the transparent, real-time platform that goes on until the lowest rates in the market are uncovered. The process ensures fair and transparent competition, which benefits suppliers who want to win more business and challenges the entire market to offer competitive rates.

1. Register Online in 2 Minutes or Less 
Register Now

Log in to your online reverse auction right before it begins, with live expert consultation along your side every step of the way. Your dedicated analyst and an account executive will guide you through the entire auction process and help you discover the best value for your energy procurement. You’ll be provided with insight into the suppliers competing for your business as well as an analysis of the trends in the market to help you make the best decision for your business.

2. Schedule your Reverse Auction

This is where it gets interesting! Once the Reverse Auction starts, you’ll be able to watch energy rates tumble as Energy suppliers continually bid and counter-bid in an apples-to-apples pricing format. In a matter of minutes, you will gain the opportunity to secure substantial energy savings by locking in the best rate with just a few clicks.

3. Choose the Rate that Works Best for You

You’ll have your pick of the best rates on the market for any term. We will show you a detailed analysis of each rate so you know what your savings opportunity is compared to your current rate, and how much your energy costs will be reduced over the course of a year.

4. Select a Supplier or Schedule Another Reverse Auction

An EMEX Energy Analyst is with you throughout the entire energy procurement process and will advise you during the live reverse auction. After the auction, detailed savings analyses become available to instantly review projected savings, allowing you to accurately incorporate energy expenses into your budgets. Your new rate and terms can be locked-in for up to 5 years and there is no cost or obligation if you’re not ready to move forward after the auction is held.

Click on the video clip below to see how a real reverse auction works.

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