The Newark Board of Education in New Jersey turns to EMEX, LLC for its Electricity Procurement
New Jersey's Newark Board of Education realizes over a $1 Million in savings using EMEX® Reverse Auction Online Platform over the term of their contract.
HOUSTON, Sept. 5, 2013 /PRNewswire-iReach/ -- EMEX, LLC, a leading firm providing energy procurement & risk management services in the deregulated regions of the United States, announces it has helped The Newark Board of Education, serving the districts' 71 schools from pre-kindergarten to secondary plus administrative offices, successfully obtain a lower rate for the over 62,000 megawatt hours (MWh) of electricity that Newark BOE is projected to annually consume.
Over the past 300+ years, Newark schools have been educating our nation's children and taking a proactive stance to make sure this heritage continues and is strengthened. Through an extensive period of due diligence in researching their electricity procurement options, the Newark Board of Education found a way to cut over $500,000 annually by using EMEX compared to other alternative procurement methods, such as the state aggregation programs.
Through a series of online auctions run on the EMEX Reverse Auction Platform, the Newark Board of Education was able to review market prices for various electricity terms and products in an efficient and transparent manner. In all, the competitive event attracted several suppliers, who over the course of minutes submitted 34 bids on the lighting and 21 bids on the main load. The auctions resulted in a new 24 month electricity contract that is expected to save the School District approximately $1,041,911.42 over the term of the contract. The new contract's term began August 2013.
"We feel honored and privileged that the Newark Board of Education put their trust in EMEX to help them find a solution to their Energy Procurement Needs," commented Todd Segmond, CEO and President of EMEX, LLC.
About EMEX, LLC
EMEX, LLC is a privately-held firm specializing in energy procurement-based risk management consulting in deregulated regions of the U.S. 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 manage energy spending in the hands of its clients with smart, groundbreaking 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: www.EnergyMarketExchange.com
Media Contact: Deborah Sill, EMEX, LLC, 713-521-9797, firstname.lastname@example.org
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SOURCE EMEX, LLC
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