“The success of the Reverse Auction for the City of Paterson comes on the heels of the recent award from The New Jersey Council of Mayors, naming EMEX their Business Member of the Year.
Houston, TX (PRWEB) May 16, 2013
EMEX, LLC, a leading firm providing energy procurement & analysis services in the deregulated regions of the United States, announces it has helped The City of Paterson, NJ, serving over 145,000 community members, successfully obtain a lower rate for over 17,235,288 million kWh of electricity including streetlights, traffic lights and city owned buildings.
The City of Paterson spends approximately $2.4M per year on energy for streetlights, traffic lights and city owned buildings. Christopher A. Coke, Director of Public Works, provided the opportunity for the first time in the City’s history to engage energy companies from across the country to bid on providing power to the City of Paterson. Coke opened the doors on Thursday, May 9, 2013 from 10:45 – 11:30 AM at the City Council Chambers within Paterson’s City Hall for the public to watch the EMEX™ Reverse Auction.
Through a series of online auctions run on the EMEX Reverse Auction Platform, the City of Paterson was able to review market prices for various electricity terms and products in an efficient and transparent manner. In all, the competitive event attracted 9 suppliers, who over the course of minutes submitted more than 100 bids. The auctions resulted in a new 24 month electricity contract that is expected to save the City more than $214,000 over the term of the contract. The new contract’s term begins in June 2013.
“The success of the Reverse Auction for the City of Paterson comes on the heels of the recent award from The New Jersey Council of Mayors, naming EMEX their Business Member of the Year. Our commitment to New Jersey Municipalities and helping them find a way to reduce significant energy costs has never been stronger.” commented Todd Bennett, Senior Government Analyst for EMEX, LLC.
About EMEX, LLC
EMEX, LLC is a privately-held firm providing energy procurement & analysis services in deregulated regions of the United States. EMEX’s complete portfolio of services and proprietary, online platforms are entirely focused on reducing the cost of energy in real-time for business and government consumers. EMEX’s mission is to put the Power to save money in the hands of its clients with smart, ground-breaking technology designed to dramatically simplify energy procurement. Core to EMEX is the Flagship product brand EMEX™ Reverse Auction Platform, recognized for its Innovation and Excellence. For more information, please visit: http://www.EnergyMarketExchange.com