As important as getting a low rate on energy is, there may be more you need to know about EMEX® Reverse Auctions before you sign up.
If this is free, how does EMEX make money?
Energy providers want your business – so they're willing to pay us commissions or “finder's fees” to connect with you. Once you sign a contract, your new provider pays us.
How much time will I have to spend on setting this reverse auction up?
Prior to the auction, either submit your bills online (if you have simple energy needs), or work with an EMEX account manager, who will liaise with suppliers for you.
All in, you could spend anywhere from 1 hour to 8 hours on the reverse auction, including contract reviews. Compare that to dozens of hours with traditional RFPs.
Are these suppliers trustworthy?
Yes. We audit our suppliers. Those who don't meet our requirements are not allowed to bid.
How do I know I'm getting the lowest price?
1) You'll see the bids happening in real-time.
2) We only work with top-shelf energy suppliers who are committed to low prices and motivated to outbid their competitors.
You're usually obligated to pay at the end of an auction. So am I going to be locked in at the end?
Absolutely not! It's not until you sign the contract with a provider that you're committed to that provider.
How much do I have to spend to qualify to use EMEX?
There's no minimum! Even a small corner store can use an EMEX reverse auction to save on energy annually.
If I don't get a bid that I'm happy with, then what?
Bids are based on market factors that are beyond the control of suppliers. So, sometimes, bids may not be as low as you'd like – or as low as the supplier would like to offer. If that happens, you can simply hold another auction.
Our legal team is wary of online auctions.
What should we do?
The EMEX system is guaranteed 100% secure, and your privacy is totally protected. You'll get all the info you'd normally expect from an RFP - including contracts that your lawyers can review before signing. This service is no-risk.
Do you promote certain energy suppliers?
No – we treat every energy supplier exactly the same. That way, you can trust you'll get an unbiased view of suppliers. And suppliers can trust EMEX as a fair place to bid for valuable business.
Have more questions?
Thank you. We received your question, and we'll get back to you within 2 business days.