RETAIL PROCUREMENT SERVICES
Energy costs have historically been one of the most unpredictable budget categories in the planning and budgeting process, particularly when viewed beyond a current contract term or fiscal year. Retail energy markets challenge even the savviest energy buyers. With options ranging from fixed to variable pricing, load following to fixed volumes, and an increasing myriad of additional hidden costs, retail energy transactions are becoming increasingly complex. Given typical contract terms of one to three years, it is important to select the right supplier, with the right contract terms at the lowest price and hold them to the highest performance standards.
Bringing 30+ years of experience to the table, PRX Energy provides the knowhow and market insight necessary to:
Develop pricing strategies that meet budgetary expectations
Determine the optimal deal structure
Leverage contract and price negotiations with suppliers, developers, and performance contractors
PRX Energy structures retail energy transactions that properly balance cost and risk factors to meet your needs using the following proven best practices:
Up-front assessment of needs to determine the products and services that are required,
Well-defined RFP package that forces suppliers to provide proposals that are consistent with defined needs and easily comparable
State-of-the-art procurement platform provided by Procurex supporting online and transparent RFPs and reverse auctions
Robust analysis of offers that highlights benefits and risks to ensure the right award decision
PRX Energy, working with a consortium of colleges in Indiana including 32 Ivy Tech Community College campuses, conducts competitive reverse auctions for natural gas supply generating more than $500,000 in savings on an annual basis. Numerous suppliers provide competing quotes using the Procurex reverse auction platform with the winning supplier reducing their price quote multiple times to secure the award. PRX Energy manages the supplier’s performance, monitors invoice charges and evaluates market conditions for opportune times to re-compete suppliers and manage costs within budget expectations. PRX Energy has consistently reduced the natural gas budget over the past 10 years and is constantly monitoring market movement to keep costs low.
“PRX Energy is an invaluable partner for Ivy Tech allowing us to centralize our energy purchasing process across our 32 campuses throughout the state, work with other local institutions to enhance our purchasing power and manage our supplier’s performance.”
- William Bogard, Executive Director, Ivy Tech