Wexford, Pa. (PRWEB) August 14, 2008
Co-exprise, a Wexford-based technology and strategic sourcing company, announced yesterday its participation in a joint natural gas purchasing initiative between the City of Pittsburgh, Allegheny County and other city and county entities.
Co-exprise's MarketPlace division will assist the city, county, Pittsburgh Zoo & PPG Aquarium, Pittsburgh Water & Sewer Authority, Pittsburgh Public Schools and the Allegheny County Airport Authority by executing a strategic sourcing process that will administer a reverse online auction that will negotiate best market-price and terms for their natural gas. The reverse auction will result in more competitive bids from energy suppliers and subsequent lower prices.
In 2007, Co-exprise assisted the city and county with a similar joint-purchasing strategy to buy electricity. Officials have said that the strategy saved taxpayers an estimated $1.4 million. The natural gas purchasing initiative builds upon the Western Pennsylvania Energy Aggregation Program and the success of the joint electricity program, and will lead to further energy cost-savings for all participants.
"The Western Pennsylvania Energy Aggregation Program is a great example of best-in-class purchasing practices that are enabled by 21st Century technology," said Pittsburgh Mayor Luke Ravenstahl. "The joint efforts are helping us to make the best use of taxpayer dollars."
This fall Co-exprise will arrange a real-time, online auction in which natural gas suppliers will be able see competitor's bids, but not their names. Each energy supplier will be given a generic identifier and, based on Co-exprise's real-time market feedback, suppliers will continue to lower bid prices within a prescribed amount of time until the best market price is achieved. Co-exprise uses its sourcing technology to determine the capability of the bidders in advance and to ensure total transparency throughout the process.
"Co-exprise will reach out to multiple natural gas suppliers that can supply into Equitable, Columbia and Dominion Peoples, and only the most competitive and qualified suppliers will participate on bid day," said Co-exprise Chief Executive Officer William Blair. "The result will be best market price and terms for the county, city, school district and airport authority, and most importantly, their constituents."
Co-exprise, Inc., designs and leverages technology to accelerate and enhance the way organizations source everything from complex, direct materials to everyday commodities.
Co-exprise MarketPlace delivers best market price procurement services for strategic commodities in a variety of market sectors including property management, health care, manufacturing, retail, government and education. For more information on Co-exprise and the Western Pennsylvania Energy Aggregation Program visit http://www.co-exprise.com.