Upon reviewing the client’s energy contract, Radiant Energy recommended the large commercial real estate company request proposals from additional suppliers and with significantly more requests. Radiant also requested multiple product offerings from all of the competing suppliers, so the company could spread its risk across both fixed and spot market rates. The fixed rate portion would enable the company to know exactly how much to budget for, while the spot market portion would let them take advantage of savings on market dips.
Nine eligible energy suppliers provided pricing for both fixed and flexible products for two years. A thorough analysis of the bids demonstrated that simply renewing with the initial supplier the company chose was not the best option. Radiant recommended that the commercial real estate company not only engage with a new supplier, but also secure contract terms better aligned with the company’s usage patterns.