Expiring Rate Caps Present Challenges to Pennsylvania Businesses Electricity rate caps served their purpose in easing Pennsylvania’s transition to competitive market pricing, with business buyers benefiting from artificially low rates despite current market conditions and assuming little to no purchase risk. All that changes now, as rate caps throughout Pennsylvania expire. With utility rate caps soon to be a thing of the past, so, too, is rate predictability – a key reason exploring offers from competitive suppliers is a prudent risk mitigation strategy. The challenge for today’s buyers is to source their electricity needs at current market rates while satisfying budget constraints. That is easier said than done, as there is little transparency into market pricing for electricity in Pennsylvania’s developing competitive market. And buyers will need to wade through a glut of offers from multiple suppliers—many with different rates and terms—to determine the most advantageous deal for their companies.
Kenneth Antos Discusses Opportunities to Save on Electricity Rates in PA
When Suppliers Compete, You Win Business buyers who decide to shop for a new electricity supplier will quickly discover that paper-based RFPs don’t keep pace with the daily market fluctuations and can’t help them evaluate suppliers and lock in the best energy deals. Online auctions on the World Energy Exchange offer a strategic approach to electricity procurement that gives Pennsylvania business buyers the best chance to secure the lowest available pricing faster, easier and with less transaction risk. Advantages of the World Energy Exchange: - Maximum supplier competition yields the best, lowest prices.
- It is easy to make one-to-one supplier bid comparisons.
- Transactions are completed in hours, not days.
- Transactions include an audit trail for compliance.
| Disadvantages of paper RFPs: - Only a limited number of supplier bids can be evaluated.
- Buyers can't evaluate supplier bid terms.
- Transaction time is too slow to keep pace with market changes.
- The paper trails needed for compliance are time consuming.
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The newly competitive Pennsylvania electricity market poses big challenges for business buyers. Online auctions from the World Energy Exchange deliver a better solution that helps these buyers find the right supplier with the best price and appropriate terms to satisfy their energy needs and their budgets. Download our free white paper to learn more. Get the inside scoop into how online auctions work; why they are a better solution than manual RFPs; and what the benefits are to procuring energy in an efficient effective and streamlined process. |
