The Definitive Guide to Finding a Better Energy Broker

by ‐ Tags: WegoWise updates, alternative energy, property management

When it comes to purchasing energy, the options seem endless. Should you buy through a third party supplier? If so, how do you choose? And how do you know if you're getting the best rate?

Before you give up on the energy procurement process altogether, here's something you should know: over 95% of the country's largest real estate owners and managers save billions of dollars a year by procuring energy through third-party suppliers.

Working with an energy broker saves you time and money. Whether you're in the market for a new broker or already on contract, here are 8 things to look for so you can reduce costs and increase net operating income.

Bring light to a complicated energy procurement process
  1. Transparency

    How do you know the energy rate you've chosen is meeting your expectations? Your spend and savings should be clear and measurable, so it's easy for everyone in your organization to see how you're reducing costs. On top of monitoring your utility bills for accuracy, a better energy broker will track costs and performance. Ever been caught off-guard with hidden fees? Your contract should always be upfront about prices and commissions.

  2. Automated data

    Whereas most traditional brokers rely on manual analysis, a better broker who's using data can easily find you the lowest available rates and track your savings. By harnessing data from your energy bills, your broker can quickly analyze your usage and rate history to calculate your price-per-kilowatt-hour (kWh), and find the best available options.

  3. Choices (and lots of them!)

    A good energy broker will find you the best offer from a small group of suppliers, but a better broker will shop for supply rates from a wide range of top options in your region and present you with the most competitive ones, so you're sure to get the best available rate. If a broker partners with only a select few suppliers, they don't have a clear picture of the whole energy market.

  4. Advising you when to buy

    While no one can truly predict energy prices, your broker should understand—and let you know—if it's not the best time to buy. By searching the market and keeping track of your rates, the best energy brokers help you take advantage of favorable rates when the market improves.

  5. Seamless renewal

    Not sure when your contract is coming to an end? Ask your broker how they stay on top of contract dates. When it comes time for you to renew, a better broker will keep an eye on your account and generate a new, customized proposal for you.

  6. Great customer service

    Good customer service means your broker spends time to understand your energy goals and the makeup of your portfolio in order to develop a long-term energy strategy that will deliver the best value. A better energy broker takes it a step further by continuously monitoring market changes to ensure you're always getting the best value, and allows you to see how your energy savings are performing.

  7. Expert knowledge

    Access to a dedicated energy analyst through your broker can help you evaluate your changing energy needs and answer any questions you have along the way, simplifying the complexities of energy management. Having this type of resource available ensures you're not being overcharged by your utility company and helps you find ways to manage your energy usage to save even more.

  8. Renewable energy options

    Interested in sourcing your energy from renewables? It's important to choose a broker with strong knowledge and partnerships in the growing renewable energy market, so you can take advantage of favorable rates and reduce your carbon footprint.

Looking to gain more control over your energy costs?

WegoPower from WegoWise is your new, better broker. WegoPower simplifies the procurement process and helps you lock in the most competitive rates, taking the uncertainty out of budgeting. We use your utility data to shop for the best supply contract offers from 30+ top suppliers, present you with the most cost-effective options, and advise you when to buy.

Ready to start saving? 

Get Started!

or call us at 617-367-WEGO (9346) to learn more.