2. Lockheed Martin Locks in Two Years of RECs
Lockheed Martin was looking to purchase Renewable Energy Certificates (RECs) for a national green program. The company, which has facilities across the country including California, had a pre-determined budget with aggressive price goals based on the size of purchase, their strong credit and past market experience. While Lockheed Martin was initially interested only in purchasing RECs for 2009 energy offsets, World Energy recommended that the customer test multiple terms, seeking offers for 2009, 2010, and 2009/2010 combined RECs. The reverse auction generated significant interest from the REC supplier community, with nearly 90 bids over the 3 events. Result: Lockheed Martin was able to purchase 147,000 RECs at a price that was 30% below their budget, and secured RECS for 2 years instead of the originally budgeted one year. Back |
