Reverse Auction: Where Expertise & Technology Meet

In addition to the traditional energy procurement channels, Patriot Energy now has the ability to utilize Reverse Auction technology. Through this unique approach Patriot can manage its clients’ energy supply needs and create optimal savings opportunities in a whole new way.

Contact Patriot today to learn more about a reverse auction.

How a Reverse Auction Works

Get real-time offers from the nation’s top energy suppliers, with terms and rates customized to your organization’s current needs and future forecasts.

1. Acquire Data

   Patriot Energy gains a full understanding of a client’s electricity & natural gas consumption, essential purchasing details, and the data required to recommend and / or develop optimal energy products.

2. Develop Market Strategy

   Patriot Energy will recommend the optimal energy product(s) for your business based on best-practice procurement strategies and your level of risk tolerance.

3. Indicative Savings Analysis

   After the initial RFP, Patriot Energy prepares a custom report comparing market conditions against current rates.

4. The Reverse Auction Event

   A Patriot Energy account executive will host and narrate the live reverse auction event on a conference call while it’s happening, providing insight on all suppliers bidding, commenting on the savings opportunities as they appear, and answering any questions.

5. Final Savings Review

   A final savings analysis based on the reverse auction’s results will be provided, providing the necessary data for making an informed decision.

6. Contract Execution and Post-Contract Management
   

   Upon selection of winning supplier(s) from the reverse auction, Patriot Energy will:

• Provide you with the appropriate supplier documents for execution
• Confirm contract receipt and booking by supplier upon execution
• Verify account enrollments as the start date approaches
• Continually advise on market conditions to manage energy risk throughout the term of the agreement. 

Download Product Overview