Energy deregulation offers significant cost-saving energy procurement opportunities. However, the lack of oversight combined with aggressive (and sometimes misleading) sales practices and market volatility can make switching energy suppliers a risky endeavor.
The NJGEC energy procurement process involves educating our client to ensure that they thoroughly understand how their energy is being used. We then use this knowledge to negotiate customized supply contracts that deliver, “the right rate,” which may not necessarily be the lowest rate. In order to deliver, “the right rate,” to every client, it is essential to acquire a complete understanding of their unique load profile as well as their risk tolerance. Often, lower rates are available for clients that are willing to accept higher risk.
By leveraging over 30 years of energy market and negotiating experience, NJGEC identifies the market and contractual risks associated with de-regulated markets, allowing every client to receive the intended benefits of energy deregulation.
NJGEC is licensed by the NJBPU. We work independently for our clients and are not associated with any specific supplier.
Our senior pricing analyst has over 25 years of energy market experience and has been involved in the negotiation of some of the largest energy related transactions in the history of Wall St.
Energy Procurement involves much more than a price on a contract. There is a significant difference between the lowest rate and the “Right Rate.” Before presenting you with procurement options, NJGEC negotiates terms and conditions that complement your unique usage characteristics or load profile and risk tolerance. This process may slightly increase the quoted rate, but more importantly protects the client from potential penalties or pass through charges.
Energy Procurement Options:
Fixed Price Plan:
A fixed price plan provides predictability with a fixed price that is guaranteed for a given term. Customers seeking price certainty to budget their energy dollars with confidence, avoid sudden spikes in energy prices and decrease their exposure to market volatility that may impact their bottom line would be a good fit for this plan.
Block & Index:
You pay a fixed price for a specified amount of electricity based on the time period, month or season you would like to cover. In other words, this plan allows you to lock-in a portion of your load at a fixed price, while letting the remainder float with the market. Hourly usage over or under the specified amount is settled based on an agreed upon index. Rates for Index + Block Solutions tend to be lower than for Fixed Price products since there are no hourly risk shaping or imbalance premiums.
Variable Price Plan:
Believe it or not, there are times when market conditions favor a variable price plan that varies from month-to-month, as the energy price floats with prevailing market rates. You energy price can go up or down without notice on any given month. This plan allows customers comfortable with price fluctuations to benefit from energy market declines, and lock-in a fixed price when market conditions are more favorable. When utilized, this type of plan must be closely monitored.
Customized Pricing reduces a suppliers’ risk when purchasing electricity resulting in a lower cost to the consumer. A supplier looks at your historical usage patterns and prices your electricity based on your actual usage, load, and demand. A NJGEC professional will work with your company to better understand how energy is being used, make recommendations on how to become more efficient, and negotiate a customized supply contract that will maximize savings while reducing risk.
Environmentally Friendly Plans:
It is very possible to procure a cleaner, greener energy and still achieve utility rate savings. Many suppliers charge sizable premiums for 100% green energy. NJGEC has relationships with the most sustainable suppliers and procures large volumes of green energy which allows us to offer a greener option at an attractive price.
Renewable energy purchases help you reduce your carbon footprint and can foster the investment and growth of renewable energy generation.
Renewable Energy Certificates:
NJGEC has the ability to trade and procure RECs for customers interested in earning LEED points or government incentives for environmentally responsible energy choices.
Green Energy Procurement
In addition to cost savings, energy deregulation gives you the option to choose a green energy source. NJGEC believes that given the opportunity, many customers would choose to save money and the environment by procuring green energy. NJGEC works with you to understand your company or organizations’ environmental and sustainability goals and will develop a customized strategy that includes procuring energy generated from offsite renewable sources. (Solar, wind, and hydro power). Our high green energy volume allow us to deliver green renewable energy at rates that compare to grid power energy generated from coal or other fossil fuels.
The key to a successful energy procurement plan is hinged on thoroughly managing the market and contractual risk as well as negotiating terms that compliment your specific load profile.
NJGEC will customize a request for pricing (RFPs), negotiate contract terms and conditions, solicit competitive rates from suppliers, and secure final contracts for execution.
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Many energy consultants and brokers will claim that they can save you money without a thorough review of your current situation. In reality, until a complete analysis is performed, no one can be sure how much they can save you or whether they can help you at all.
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