How can third-party energy brokers help you save on procurement costs?

1 What is an energy broker?

An energy broker is an independent agent or company that helps customers find the best energy deals from different suppliers. They act as intermediaries between you and the energy market, using their expertise and network to negotiate contracts, compare prices, and manage your energy portfolio. Energy brokers do not sell or supply energy themselves, but they charge a fee or commission for their services.

3 How to choose an energy broker?

It is essential to do your research and compare different options when selecting an energy broker, as not all brokers have the same level of experience, knowledge, and connections, and some may have hidden fees or conflicts of interest. To make sure you choose the right energy broker for you, consider asking questions such as how long they have been in business, what their credentials and references are, what their fees are and how they are calculated and disclosed, how many suppliers they work with and how they select them, how they communicate with you and how often they update you on your contracts and market conditions, as well as what additional services they offer such as energy audits, risk management, or demand response.

5 How to get the most out of your energy broker?

To ensure that you get the best value and service from your energy broker, you need to establish a clear and trusting relationship with them. You should communicate your goals, expectations, and preferences clearly and regularly, and provide them with accurate and timely information about your energy usage and needs. You should also review your contracts and invoices carefully and ask questions if anything is unclear or suspicious. Finally, you should evaluate your energy broker's performance and feedback periodically and make changes if necessary.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?