HOUSTON, Aug. 28, 2013 /PRNewswire-iReach/ -- EMEX, LLC, a leading firm providing energy procurement-based risk management services in the deregulated regions of the United States, announced it has helped The City of Lima, Ohio - serving over 38,000 community members - successfully obtain a lower rate for the approximately 27 million kWh of electricity it consumes annually for its city-owned buildings, streetlights, traffic lights, water and wastewater treatment plants, pumping stations and facilities.
This historically rich northwestern Ohio municipality, established in 1831, spends approximately $1.5 M per year on energy to keep the city operating and growing. City of Lima Mayor David Berger's goal was to lower the cost associated with electricity usage and bring all the city's meters into one contract. By organizing the accounting associated with the billing and account payables it would reduce the administrative resources needed to manage Lima's electricity budget.
"We developed a strong relationship with EMEX and consider them a partner in energy procurement. They listened and responded to our needs and concerns for an apples-to-apples comparison, generating an optimal RFP for all bidders to address. The result was a compelling reverse auction and impressive savings, well beyond the original estimates," commented Mayor Berger, "We believe we achieved the best possible outcome and are pleased to have EMEX as a trusted resource going forward."
Through a series of online auctions run on the EMEX™ Reverse Auction Platform, the City of Lima was able to achieve this goal and review market prices for various electricity terms and products in an efficient and transparent manner. In all, the competitive event attracted 6 suppliers, who over the course of minutes submitted more than 55 bids. The auctions resulted in a 6 month contract starting September 2013 and a 36 month consolidated billing contract beginning March 2014. The electricity contracts are expected to save the City more than $560,000 over the term of the contract.
Paral Thakker, Senior Government Analyst for EMEX, LLC commented, "Partnering with The City of Lima is another important step for EMEX in the State of Ohio and further validates the effectiveness of our online reverse auction platform. While our online auctions have been a core product to EMEX, our Procurement-Based Risk Management Consulting Services are proving to be just as valuable, if not more. We are seeing many of our customers needing the expertise associated with our consulting services. It affords them with not only substantial reductions in energy costs, but also reduces administrative resources all around."
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