Run Auction

An auction broker will work with you to take the drudgery out of your transaction process and provide insightful advice, freeing you up to think about the market risks and the best price-risk outcome for your organisation.

Only the four highlighted steps 1, 4, 5 and 11 involve decisions or actions by you.
Auction Set Up
1. Register by clicking here
2. You will receive a Welcome email and an introduction call from your auction broker
3. You will receive a weekly Price Watch Report which you can change to daily or monthly
4. Fax us your signed Auction Service Agreement which explains the ground rules and assigns us authority to
run your auctions but not make decisions
5. Fax us a recent bill for each site for us to set up your requirements on our exchange system
6. We will send an Option to Change notice to your current supplier if you have not already done so. We will
also advise if you have automatically been rolled over into a new contract.

Running the Auction
7. We close electricity auctions at noon on Thursdays and gas on Wednesdays when we have morning trading windows with all the suppliers
8. Watch the reverse auction, all the action tends to happen in the last half hour
9. You will receive a Quote Summary Report by email upon close listing shortlisted three suppliers and your current suppliers' quotes
10. Your auction broker will call to discuss market risks and your options including re-running at a more
favourable time
11. Send us an email acceptance referring to the preferred quote to lock away prices. You will receive the corresponding Offer document which you can sign and return to us by fax. The transaction will only be
complete and legally binding when the energy supplier accepts your return acceptance.

Ongoing Service
12. You will receive monthly Price Watch Reports with an analysis of market moves over the previous month,
price risks looking forward and our recommendations including whether to go to market early
13. We will manage your Option to Change notice for the next contract renewal to ensure you are not automatically rolled over at unfavourable prices
14. We will be in touch with you ahead of your contract renewal date.