Houston, TX (PRWEB) April 03, 2014
EMEX, LLC, a leading energy risk management consultancy, announces that one of its innovative energy products generated a $30,000 savings for Millville Board of Education in New Jersey.
This innovative product provides customers budget certainty with a fixed rate while also giving them the ability to take advantage of future price dips in the natural gas market. Utilizing this product structure has saved Millville Board of Education (BOE) $10,000 per year versus a traditional Fixed Price. In addition, EMEX’s management of this product secured an extra $20,000 in savings by reducing Millville BOE’s future costs for the months of September 2014 through February 2015. EMEX will continue to work with Millville BOE to capture additional market opportunities to further reduce Millville BOE’s natural gas costs in other future months.
“EMEX worked closely with us to explain how this product structure works. We felt comfortable that this product allowed us to budget using a fixed rate for the term,” said Toni Basich, Assistant Board Secretary/Purchasing with Millville Board of Education. “In addition, with EMEX’s guidance, we have locked in a lower rate during next winter, which is when our usage and costs tend to be highest. This type of customized procurement strategy is one of the main benefits of utilizing EMEX.”
“The innovative product structure that EMEX used for Millville provides the best of both worlds,” explained Phillip T. Golden, Director of Product & Risk Management at EMEX. “The Board of Education has a guaranteed rate that has already produced substantial savings versus a traditional Fixed Price, providing them with budget certainty and immediate savings. Additionally, it allows them to capture downward movement in the natural gas market when it occurs to create even greater cost-savings. Given the rising natural gas market conditions, we felt it was important to protect our clients’ best interest not only by getting them hedged, but also creating the opportunity to take advantage of lower forward gas prices when they occur.”
The product and contract that EMEX designed for the Millville Board of Education was negotiated with Constellation Energy Gas Choice, Inc. (“Constellation”).
“At Constellation, we are committed to providing innovative solutions for our customers,” said Robert Topolski Director of Sales, Mid Atlantic at Constellation “The product and contract that EMEX designed provides a great value to the customer and demonstrates Constellation’s ability to work with our partners to meet the evolving needs of the marketplace.”
EMEX continues to monitor the market for additional savings opportunities for Millville Board of Education enabling the BOE to take the funds and pour them back into education.
About EMEX, LLC
EMEX, LLC is a leading technology firm that is revolutionizing how energy is bought and sold through its live Reverse Auction Exchange. The Exchange creates a real-time trading environment that compels sellers to compete, resulting in prices dropping precipitously for businesses procuring energy. EMEX continues to develop new platforms that specialize in Exchanges for all industry types in order to provide a real-time buying and selling environment for all commodities, products, and services. For more information, please visit: http://www.EnergyMarketExchange.com