Is Your Energy Broker Really Working for You?
Too many organizations rely on energy brokers to source their supply contracts without any insight into whether their broker is acting in their best interest.
If you’re going to entrust a third party to obtain the price and terms for your energy contract, you’ll need to be 100% confident they’re doing everything they can to get you the best price and terms. What you’ll need is full visibility into the energy procurement process. That means knowing how many suppliers your procurement partner works with, how many bids they receive for your business, and how they evaluate different offers. For example, did you know that energy brokers often have more incentive to steer your business toward a specific supplier, whether or not that supplier’s offer is the best available?
It’s not always clear how the brokerage community works—and it’s not always clear that broker fees are added to your rate, dollar for dollar. In the three-minute video below, Enel X’s Principal Energy Advisor Tucker Davis breaks down how the business model for some brokers could have an unintended impact on your business
To get the best value out of your energy supply contract, you’ll need a procurement partner that fully understands your business as an entity. Your partner needs to understand your consumption patterns and must be able to connect an energy procurement strategy to your broader business objectives. To help you better determine if your broker is really working for you, we’ve put together these key questions to ask your energy broker or consultant.
To learn more about how the energy procurement process could affect your business, check out the full-length video webinar, 3 Costly Misconceptions About Energy Contracts.