Reverse Auctions for Energy

A London 'On-line' Energy Exchange's entry free, unique, ‘Reverse Auctions for Energy’ are available to Public and  Private companies through NUTEL Energy Ltd. and other UK specialist Energy Brokers and the Auctions invariably secure the cheapest possible overall energy contract prices for businesses at the time of each auction

The ‘Reverse Auctions for Energy’ are free to all entrants and have been run over the past nine years by a team of professional Energy Broker Consultants at an On-line London Energy Exchange.                                   

1. More than £150 million in energy monies now goes through the Reverse Auctions annually and they are registered for Government OJEU tendering to assist public companies when tendering.    NUTEL Energy Ltd., are associate members of the On-line Energy Exchange.   All major energy suppliers, are invited to attend each auction and all invariably do so.

    2.   Auctions are held weekly (public holidays excepted) on the following days:- 

Tuesdays...........Non-half hourly major business electricity.
Wednesdays.....Business gas.
Thursdays..........Half-hourly business electricity.

Prior to a  reverse auction,  all  major energy suppliers are contacted by a London On-line Energy Exchange and provided with the details and contractual requirements of the businesses booked for a place in the forthcoming auction.     All major energy suppliers are invited to bid for the business in the auction on each auction day and most invariably do so.   

Special consideration:  Should a serious future rise in energy prices be forecast, fixed prices on renewal business (gas and electricity) can be secured in the auctions up to 30 months ahead of a company's energy renewal date by the use of free, guaranteed, Forward Contractual Energy Renewal Pricing (FCERP). 

3.   Major energy suppliers are attracted to the Reverse Auctions, due to  the  quality business  in the auctions.   They also find the auctions an ideal venue to fill any gaps which may occur from time to time in their energy portfolios. 

4.    The auctions are totally transparent in that the final bid prices and overall contract prices of the three successful energy suppliers in each auction are made known to a participating company by 3 p.m. on the auction day..    

5.    During each auction morning session, participating energy suppliers bid down on kWh (unit) prices aiming to be one of the three energy suppliers quoting the lowest overall annual contract costs by mid-day for each individual business entrant in the auction. 

6.   No charge or obligation:    Should a company have received a renewal quote from their current energy supplier or other energy supplier prior to entering an auction  it is possible but unlikely that they may have secured a cheaper overall annual renewal contract cost, adjusted to wholesale base-unit pricing, than the auction's quote.   In which case, on written proof and date of the overall 'prior-to-auction quote', the auction’s final quote can simply be declined without any obligation or penalty charge to that participating company.  

7. The entry-free transparent 'Reverse Auctions for  Energy' are ideal for those companies, organisations and establishments for which it is mandatory for them to receive a number of energy quotes on initial energy contracts or energy contract renewals in order to satisfy their Government Department Directives / Trusts / Shareholders / board Members or Managing Directors.