Energy Procurement Services
Lean on VITALITY and our leverage our industry knowledge for energy procurement to help your organization lower cost and increase revenue.
Energy Procurement With VITALITY
Energy Procurement strategy is often neglected by many organizations even though it can considerably reduce costs. In a deregulated market where you have the opportunity to choose the rates you pay for your energy, many organizations leave savings on the table. VITALITY will help you find the best plan and rate schedule for your organization to help you reduce costs and increase your COI.
Make Sure You're On The Best Rate Schedule Available
Our team of energy specialists diligently monitors and assesses energy markets. We track daily price trends, stay on top of market regulations, and stay up-to-date on rate case announcements to understand every change that could impact procurement decisions at regional or national levels. Our comprehensive market research plays a pivotal role in decision-making, helping provide data-driven strategy.
What to expect:
- Energy procurement and risk-management strategies
- Recognize cost/risk management opportunities driven by market conditions
- Receive proactive advice on the timing and volume of energy purchases
- Conduct due diligence on vendors and opportunities
- Execute analysis and contracting of supply agreements
- Enroll and oversee account management
- Monitor your portfolio using market intelligence, performance reporting, and dynamic risk management
Commodity prices are always changing. Determining when to hedge, what percentage of usage to hedge, and the duration are complex decisions for procurement specialists. Our role is to collaborate with clients to help provide procurement timing, ensuring favorable pricing for their present and future needs. Strategic investment in long-term contracts mitigates uncertainties and enhances profitability.
Leveraging our domain knowledge, we work with our clients to ensure that the procurement strategy is aligned with the corporate strategy and that your organization is positioned well long term. We evaluate our clients’ energy consumption profile and develop the right approach for them, considering factors like time of entry, supplier product offerings and contract terms that will fit your organization. The whole process is aimed at providing maximum savings, while minimizing risk.
One area that is often neglected during energy sourcing is the contract structure itself. It is important for the contract to include the right terms and conditions that will secure your organizations position going forward. These may include liability and material change clauses which come into effect when there is over or under usage of committed volumes. If ignored, these penalties could increase energy costs significantly.
Our demand management initiatives are based on the overall strategy and objectives of our clients. These programs are mainly aimed at reducing energy consumption and managing energy usage effectively. VITALITY offers services such as usage study and benchmarking, pre-audits and planning, identification and evaluation of demand response programs, and implementation and tracking of such initiatives.
