You're just one step away from reducing your business energy costs!

What are the Next Steps?

The evaluation process is the next step to confirming if you qualify for an Energy Reverse Auction. If you have an energy bill available in PDF format, please feel free to upload it using the form below, or email it to us to commence the qualification review. Someone from our office will be in touch with you in the coming days to confirm your participation.

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Energy Reverse Auction Details

  • 1

    Review Your Requirements, Assess Options and Pre-Qualify for Reverse Auction

    Once you upload a recent bill, your basic energy consumption information is reviewed to ensure your energy contract is suited to an online reverse auction, which is for clients spending more than $6,000 per quarter on electricity. For smaller businesses and energy costs below this level, you can visit our small business page for our small business equivalent, click the following link: small business savings.

  • 2

    Energy Contract Specifications are Created for the Auction Process

    Once your site is qualified we gather the necessary information with your permission to build a specification for your site. Energy Action understands the energy retailer's approach their pricing, trading terms and strategic buying patterns and know they are able to offer better pricing when they can manage risk through “known load profiles”. We help develop these as part of building your site specifications.

  • 3

    Auction Date is set and Energy Retailers Invited to Participate in the Reverse Auction

    Next we work with your business to confirm a suitable auction date, distribute your site specifications to energy retailers and invite them to participate in your auction. Prior to your reverse energy auction, energy retailers will have logged in to begin building their “bids”, with some energy retailers registering their interest to participate and then bidding on the day of auction where they can see the pricing they have to beat.

  • 4

    Your Reverse Auction Commences With Participating Energy Suppliers

    Your auction is scheduled to run for 10 minutes. Energy retailers begin bidding. Bids received in the final 3 minutes will trigger a 5 minute extension, to allow energy retailers to have adequate time to prepare counter bids. You are able to view your auction live through the online auction platform. With energy retailers bidding against each other, maximum price tension is created against competing suppliers.

  • 5

    Live Bidding Ends, Auction Finishes and Savings Reports Produced

    Once the auction has closed, the Energy Action team will prepare your tailored and detailed comparison reports, which are designed to help you understand and compare the bids as they relate to your requirements and assist you to make the most informed decision to select the best suited energy retailer and contract. We can support this process and help you make the best decision for your business.

  • 6

    Select Your New Energy Supplier and Secure Your Savings to Start When Your Current Contract Ends.

    You have complete control in choosing an energy retailer. Our detailed comparison reports provide all the relevant pricing & commercial information to help make your choice easier. Due to sharper pricing and the general competitive nature of bids, in most cases, there is a limited validity period. Once you choose an energy retailer, we help facilitates the transfer of your contract, commencing when you current contract expires.

Energy Reverse Auction - Frequently Asked Questions (FAQs)

What is an Energy Reverse Auction? +

Our revolutionary auction platform, the Australian Energy Exchange (AEX) is a energy reverse auction supported by energy providers that allows businesses to take advantage of forced downward energy pricing.

Nationally, we have over 20 energy retailers we invite to your reverse auction ready to bid against each other for your business.

Why is now a perfect time an Energy Reverse Auction? +

Retail electricity prices for Commercial & Industrial customers have had a declining trend. All states are at, or approaching, 2-year price lows. Price backwardation remains in excess of $20-$30/MWh from 2019 to 2022. Major reductions are noted for Calendar 2021. 2023 futures have also begun moving downwards but lack trading volume liquidity. We expect 2023 prices to reduce further. All the signs are there to lock in great pricing to capitalise on this market trend.

Do I have to sign up right away? +

Your new energy contract can start when your existing contract expires, this can be between the next 30 days to 12 months or longer, depending on how early you start this process.

Why is this excellent for my business? +

If you have a contract due to renew in the next 9 months - you need to act fast before pricing starts moving upwards! Your current energy supplier may attempt to capitalise on your reducing contract duration and force you to lock into rates that are less than favourable to you.

An auction is one of the fastest way to secure the best deal taking advantage of maximum competition with minimal effort from you! The best part is you still get the final decision on which offer you choose!

Why is this different to a group buying alternatives? +

A energy reverse auction differs from a group buying event because it maximises the benefits of active competition against conditions that more favourable to your outcomes.

Your auction is individual, so you benefit from the pricing being directly related to your load profile and contract needs.

It also means there is no risk of pricing being reviewed under clauses relating to all parties needing to sign for pricing to remain valid. You are responsible for signing off on your own contract secured through the auction's results.

Sounds too simple - is there a catch? +

Because the auction process forces energy retailers to put their best possible prices forward, they cannot offer long validity on their deals. Once you commit to an auction, you need to be ready to take a deal, even though it the contract wont start until your current contract expires. The decision of who you choose is completely up to you.

Why has the Australian Energy Exchange (AEX) been so successful? +

In plain terms, our reverse auction platform, The Australian Energy Exchange, is effectively a marketplace where large businesses, spending over $25,000/year, go to buy their electricity. It’s a successful marketplace because energy retailers are very active and engaged with it. For any marketplace to work, there needs to be plenty of buyers and sellers keen to do business. Energy Action pioneered the concept of reverse auctions for energy in Australia almost 20 years ago. We are just creating the opportunity to bring everyone together at a critical period in the energy industry.

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