Energy Action begins online electricity auctions in WA

Energy management consultancy Energy Action has commenced electricity auctions in Western Australia via its online platform the Australian Energy Exchange. Electricity procurement has historically been completed using a tender process and accepting an offer from the existing energy retailer, and now Energy Action’s online auction platform provides Western Australian clients with access to this procurement strategy.

“Energy Action is committed to bringing innovation to energy management, and the option of the online reverse auction platform in Western Australia is a tangible example,” said Energy Action CEO Scott Wooldridge. “Auctions provide an alternative method of procurement where clients have either an auction or tender process to take their requirements to market and achieve maximum price discovery.”

The benefit of procuring electricity online is clients can secure a best fit contract at a competitive price in as little as 15 minutes and watch the competitive bidding between the registered energy retailers. For example, the platform saved Iona Presentation College over $40,000 per year on its electricity rates as a result of enthusiastic competition between five energy retailers across 22 bids.

“To have saved Iona Presentation College over 20% on their electricity rates was a great result and we look forward to generating more positive financial outcomes for our clients into the future,” Wooldridge said.

The Australian Energy Exchange can be accessed at http://www.energyexchange.com.au/useraccount/login.