Transparent Energy Races to Record H1 2020 Results, Saving Clients Millions on Energy ProcurementJuly 22, 2020
With Process and Technology Optimized for Virtual Transactions, Transparent Energy Delivers Benefits of Online Auctions to Growing Legion of C&I Energy Buyers
FAIRFIELD, N.J., July 22, 2020 — Transparent Energy, the national leader in online energy procurement, today announced it has shattered its first-half-year performance record across all major metrics, including revenue, transaction volume, and customer acquisition. The record-breaking results testify to the company’s singular ability to procure energy successfully for its clients whether gathered together in the same room or virtually across the country.
Leveraging a proven process implemented by a team of energy-industry experts and an online auction platform that heightens competition for a customer’s energy contract, Transparent Energy attracted new customers in record numbers from across the C&I and non-profit spectrum, including major investment banks, REITs and manufacturers, as well as hospitals, universities and schools. In doing so, Transparent Energy helped clients capitalize on record-low natural gas and electricity prices, driving tens of millions of dollars in savings to their bottom lines without requiring any CAPEX investment, welcome news to customers facing a difficult and uncertain business climate marked by the COVID-19 pandemic.
“So many of us are going to look back at 2020 as an unprecedented time of change and challenge,” said Dustin Scarpa, Co-Founder and Managing Partner, Transparent Energy. “I couldn’t be prouder of the way our company has stepped up and overcome these challenges to meet the needs of our customers, enabling them to buy energy more strategically and secure savings that has helped them maintain payrolls and retain talent.”
Added Paul Shagawat, Co-Founder and Managing Partner, Transparent Energy, “Our ongoing investment in process and technology has put us in a position to thrive during the pandemic – and beyond it – by enabling our customers to make mission-critical energy buys from the nation’s top energy suppliers virtually, a capability that has simplified their lives, driven needed operational cost savings, and distanced us from the competition.”
Transparent’s key H1 2020 accomplishments include:
- Transacting more than $10 million in new energy contracts per week, helping clients achieve tens of millions of dollars in savings.
- Attracting new customers, including two of the world’s largest investment banks, a national fast-food franchise, a major spice manufacturer, and a name-brand supermarket chain.
- Achieving a 99+% auction close rate, testifying to the fact that when Transparent takes clients to market, running an energy-procurement event on their behalf, the effort results in a signed energy contract.
Added Dustin Scarpa: “We came into 2020 having achieved record results in 2019 and have continued to gain momentum as more and more customers turn to Transparent Energy to gain an energy-procurement advantage.
“What we’re seeing now is that Fortune 500 and other large companies, some with very complex buying requirements, are comparing their current energy-procurement strategy to Transparent Energy’s process. When they look closely at our approach, which puts a premium on detailed analysis, careful planning, and exacting execution through a series of transparent, highly competitive online auctions that attract the participation of the best energy suppliers in the country, they choose us.
“From a business perspective, our process yields lower energy prices for the customer without risk or obligation. The current economic environment has CFOs laser-focused on their bottom lines, and our message – and more importantly, our results – is resonating as is evidenced by our 99% closing rate.”
Concluded Paul Shagawat: “The first half of 2020 has shown that our proven approach to online energy procurement adapts well to any business condition. Whatever the ‘new normal’ is going to be, whether it is a ‘return to normal,’ a more virtual one, or something in between, Transparent Energy has the process-and-technology-based solution and energy-market know-how to power businesses to success.”
About Transparent Energy
Transparent is the go-to resource for C&I companies for energy procurement and energy advisory services. The company’s clients include large automotive, education, financial services, healthcare, manufacturing, real estate (REITs and property management), retail, and technology firms. With a proven process delivered by retail energy’s most experienced professionals and state-of-the-art online auction technology, Transparent has driven millions of dollars in operational savings for clients across North America. For more information, see www.transparentedge.com.