03 Aug Deregulated Energy Purchasing Explained
Many businesses in deregulated markets are still confused about how to procure energy through a supplier? For many, they are not sure how to even start the process, for others, they are unsure how to switch to find a better deal. Beyond this, the open marketplace also leaves many businesses vulnerable to less reputable brokers and confusing jargon and contract language.
At Albireo Energy, we support businesses in purchasing energy day. Based on that experience, we put together this short primer to help you begin to make sense of the market.
What is an Energy Supplier?
Energy suppliers in deregulated markets have stepped in to supply energy like only utility companies once did. When opting into a deregulated energy supply contract, the agreement is between a business and the supplier.
Many energy suppliers offer electricity and natural gas, though some focus on one commodity or the other, and of course, it depends on what commodities are deregulated in the state.
Keep in mind that the transmission and delivery of the energy is still handled by the utility and will factor into the total price for energy.
What is an Energy Broker?
Energy brokers or energy consultants are highly knowledgeable experts who resell energy from a supplier. While they do charge a fee for this service, they are an incredible asset because they can help you perform the proper due diligence to find the best energy contract. Typically, they’ll review your historical utility data and match that with a supplier who can offer the best energy rates and service for your energy usage profile.
The Albireo Energy Purchasing Process
If you decide you want to realize the benefits of a deregulated energy contract, or switch suppliers, the first thing you should do is talk with an energy broker like us. Our reps are here around the clock to help you make the right decision. The first thing we will do is work with you to make sense of your current energy strategy.
It will be helpful to collect past invoices and any existing deregulated contract so that we can review them to understand your individual needs. Next, we will help you to identify potential suppliers and negotiate the contract on your behalf. If you desire, you could opt into one of our energy aggregations, or have your contract put out to bid via our platform to help increase your purchasing power and get you a better rate. Once executed, we will provide you with access to our energy dashboard software so you can monitor your energy usage on a monthly basis.
For more information about how the Albireo process can help you, contact us today!