In Just Over One Hour, Online Auctions Spur More than 400 Bids from 11 Power Suppliers
BRIDGEWATER, N.J. and FAIRFIELD, N.J., April 21, 2020 (GLOBE NEWSWIRE) — Transparent Energy, a national leader in online energy procurement, today announced it ran a successful set of online reverse auctions for Viscofan Collagen USA to help the collagen-casings manufacturer procure electricity and natural gas to power its Bridgewater, N.J. production facility. The online auctions attracted the participation of 11 nationally accredited electricity suppliers and 9 natural gas suppliers, resulting in the sale of more than 38,000,000 kWh of electricity and 350,000 Dth of natural gas over 36-month terms beginning November 1, 2020.
Held on March 24, 2020, the auctions seamlessly compared various fixed-rate and variable-rate electricity and natural gas products over 12-month, 24-month, and 36-month terms, enabling Viscofan Collagen USA to clearly price the market and choose the right products and terms to meet its business objectives and risk tolerance. The competitive process, run on the Transparent Energy online auction platform, delivered price certainty to Viscofan Collagen USA and more than $500,000 in savings.
“Transparent Energy did an excellent job attracting the best suppliers to our procurement event, setting expectations, and preparing us to transact,” said Guillermo Diez, Director of Operations at Viscofan Collagen. “We had reviewed online auctions in the past but did not have an opportunity to implement them into our procurement process. We were really impressed with the competitive dynamics of the online auctions run by Transparent Energy. An exciting aspect of the process is witnessing top national suppliers bidding to win your business in real time – something traditional paper-procurement processes just can’t touch – understanding that every time they bid the price down, operating dollars are being freed up.”
Added Jaime Soroa, President and CEO of Viscofan Collagen USA, “Cost efficiencies are essential to our business, so embracing a technology-driven approach to energy procurement made perfect sense. And now we have the results to back it up. Saving over $500,000 on energy is a win under any circumstances, but it is especially valuable now in this unprecedented economic environment.”
Like Zoom, Slack, and other remote-productivity and collaboration platforms, Transparent Energy’s online auctions enable real-time, virtual participation in energy procurement events. The platform makes it easy for suppliers to compete for a company’s energy business from the convenience of their own homes or offices.
“We are very thankful that business has been exceeding our expectations during the COVID-19 epidemic,” said Dustin Scarpa, Managing Partner and Founder of Transparent Energy. “Electricity and natural gas prices are at or near historic lows right now across the U.S., and our online auctions provide an easy, ‘remote-friendly’ way for companies to procure their energy and for suppliers to compete for their business. Four hundred bids in one hour speaks volumes about the supplier participation we attract, the performance of our online auction technology, and the quality and effectiveness of our people and supporting processes. And it’s humbling to help our clients save money at a time when they really need it.”
About Viscofan Collagen USA
Viscofan Collagen Inc. is a subsidiary of Viscofan Group. Viscofan is the world’s leading producer and distributor of artificial casings for the meat industry, and the only company in the industry with advanced technologies for cellulose, collagen, fibrous, and plastic casings. Viscofan operates casing manufacturing sites in Spain, Uruguay, Brazil, Mexico, USA, Canada, Belgium, Germany, Serbia, Czech Republic, China, Australia and New Zealand, and a commercial network that reaches more than 100 countries.
About Transparent Energy
Transparent is the go-to resource for C&I companies for energy procurement and energy advisory services. The company’s clients include large automotive, education, financial services, healthcare, manufacturing, real estate (REITs and property developers), retail, and technology firms. With a proven process delivered by retail energy’s most experienced professionals and state-of-the-art online auction technology, Transparent has driven millions of dollars in operational savings for clients across North America. For more information, see www.transparentedge.com.
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