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DIY Friday: 3 Steps to Lower Electric Rates

This week’s DIY Friday is in response to a personal request from one of our readers.  We’re always here to give solid advice on how to save energy (and money!), so this week, we’ll be explaining the process of achieving lower electricity rates.

Whether your business has been struggling to make ends meet, or you’re just looking to see if your company has been paying too much for electricity, this should help guide you to a smaller electric bill and a thicker wallet!

Most organizations qualify to participate in a blind energy auction, which is the best way to find the right electric supplier.  We’ve broken down the process into three simple steps:

STEP 1: THE BID REQUEST

If you’ve never participated in a blind energy auction (and since you’re reading this, we’ll assume that you haven’t), a bid request is just the initial form that will ask for information such as your name, your company’s name, and your current utility and supplier information.  This will typically only take a few minutes to fill out, and with a signature at the bottom, you’ll be ready to go.

If you’re curious to see what a real bid request looks like, click here for an example.

STEP 2: THE AUCTION

Modern technology has made this step incredibly easy, especially for you.  After you submit the bid request, your energy consultant will literally take care of the rest.  He will analyze the last 12 to 24 months of your electricity usage to determine your load profile, prepare a customized request for proposal (RFP) and send to pre-qualified suppliers, officiate the auction, and prepare a proposal that includes prices, a savings projection, and personalized recommendations.

If you are happy with the proposal and accept an offer, your consultant will examine the supply contract to ensure it meets the terms of the bid offering, and work with the supplier to guarantee a seamless transition.

STEP 3: THE SAVINGS

A respectable energy consultant will continue to monitor your account and alert you if any mischarges or errors are made by the new supplier.  A utility bill audit may also be conducted to discover additional savings.

The entire process has been formulated to ensure customer satisfaction.  And how could you not be satisfied with such a simple procedure that will lead to a major payout?  Keep in mind, these energy auctions are usually free of charge and there is no penalty if you change your mind.

From everyone at YourEnergyBlog, enjoy your savings (and your weekend)!

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