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New website promises to revolutionise commercial energy market

Two successful North East businessmen are launching a new venture which they hope will revolutionise the industrial and commercial (I&C) energy market.

Bob Pritchard and Bill Locke have spent the past 24 months developing Bidex Energy e-Auction - a new website which uses industry-leading software to allow Ofgem licensed energy suppliers to bid for live commercial contracts in a reverse online auction.

The site works by pre-registering major energy users such as manufacturers, commercial office blocks, retail chains and sports stadiums who then get the opportunity to watch Ofgem-approved gas and electricity suppliers compete in a live bidding war online to win their business. As well as encouraging greater competition amongst energy suppliers, the system streamlines the entire commercial energy purchasing process and guarantees total transparency. It also provides customers with an automatic audit trail of the whole auction process for their records.

Businessmen Bill and Bob have the right credentials to make the venture work. The pair established commercial energy brokerage Energy Partners in 2005 and successfully built the company into a thriving business which employs ten people and boasts thousands of clients across the UK – including 2,500 churches.

They are now confident that Bidex will be well-received and will provide a true alternative to traditional routes of energy procurement.

Bob said: “We truly believe Bidex will transform the I&C and multi-site energy marketplace beyond recognition. Traditionally commercial energy purchasing is often shrouded in mystery. Deals or tenders are usually strictly controlled by brokers or consultants and it’s difficult to ensure that all suppliers are quoting on a like for like basis. There are often hidden charges and favouritism with brokers plugging some energy firms while ignoring others.

“Our Bidex e-auction site eliminates all of this confusion bringing total clarity and transparency to the marketplace. As well as eliminating broker and consultant favouritism, the Bidex Energy e-Auction removes the opportunity for preferred bidders, discrimination and potential collusion between third parties at the same time as dramatically increasing competition. Suppliers can compete on a level playing field. We believe this will help drive down prices across the sector and shine a light on the hidden fees that currently exist in energy purchasing.”

At the moment Bidex Energy Auction is only available to large consumers of gas and electricity with typical annual bills of around £100k -£10+million. For more information please call 0800 0112464, email info@bidexenergyauction.co.uk or visit http://www.bidexenergyauction.co.uk

This was posted in Bdaily's Members' News section by Bidex Energy Auction .