A community-owned electric utility in Texas, planning to retire its 358-megawatt power plant in 2007, used the World Energy Exchange to find replacement supply for 2008-2010. In September 2006, World Energy’s experienced market directors helped the muni's staff create RFPs that divided the load into tranches, offering several scenarios in order to find the best available price then, tapping their extensive supplier network, conducted a series of eight auctions on behalf of the client for up to 150 megawatts of replacement supply. The suppliers were able to answer the RFPs with real time bids, rather than complex, written reply documents and the client was able to see the prices dropping… no need for lengthy analysis. Result: The effective and efficient World Energy process explored multiple options, delivering the lowest possible price. Overall cost savings for rate payers: $3 million. Back |
