It’s typical for a company to view energy procurement as simply another cost. Making the time to understand all of the options and what a company is buying is hard because of the complexity involved with the energy market. Companies often struggle with committing the resources needed to make the best decision, leaving them with an energy service that is the easiest, but not best. It’s a painful process, but it doesn’t have to be.
Difficulties Exist with Energy Procurement
Energy procurement is complex and can be hard to understand. Companies struggling to identify current and future energy usage often sign up for excess unneeded services. With the industry’s volatility and constant change, tracking supply and demand, regulation changes, and new technology is challenging and time consuming for most companies as well. A high level of insight is needed to estimate needs, understand the market, and identify the correct procurement path moving forward. Because of this, choosing the easiest energy service is often the path forward, instead of choosing the best.
The Benefits of an Energy Procurement Service
An effective way to overcome hurdles associated with finding the best choice is through the use of energy procurement services. For many companies, investing the time and effort to create an in-house understanding of energy procurement isn’t practical. Similar to outsourcing data center services to third-party operators, companies can utilize a third-party energy procurement service for their benefit. Providers of these services have in-depth knowledge of the industry and can work on your behalf to craft a solution ideal for your company. Additional benefits of an energy procurement service include:
- Creating an energy purchasing plan
- Market intelligence
- Risk mitigation
- Negotiating power
- Outsourcing a burdensome task
Utilizing this service provides companies with an informed purchasing plan that will produce a new energy service tailored to fit their needs. To learn more about the benefits of energy procurement services, download our whitepaper “Take Charge of Energy Spending – How Energy Procurement Services Can Help Your Company Get the Best Value in Energy Services Contracts”
Learn more about how Stream’s Energy Procurement Services can help your organization.