VANCOUVER, BC (May 8, 2012) – Utilities and companies involved in the production, distribution and transmission of natural gas got the answer to a question they may often confront, when they attended Victoria Fleming’s presentation at last week’s WEI Conference in Vancouver. Fleming, Director of Natural Gas Marketing at Pricelock, has worked in the energy industry for a decade, including stints at Navigant Consulting and PG&E.
According to Fleming, the question buyers get from their senior management and from regulators is, “Did you get a good price, and can you prove it?” Her presentation answered that question by demonstrating how the internet allows buyers to capture the proof points and create a detailed audit trail by using online auctions for procuring energy.
Fleming’s presentation, entitled “Managing Gas Procurement – The Next Chapter” explored how energy buying and selling is transitioning to the internet to reap the benefits seen by other industries including improved efficiency, competitive pricing and, speed of transactions. Importantly, the companies involved in buying and selling energy are able to easily communicate, maintain their relationships and increase their pricing knowledge. These improvements are available for the entire energy complex, including natural gas, natural gas storage and natural gas pipeline capacity as well as power, coal and distillates.
Pricelock, based in Silicon Valley, has conducted multiple auctions with some of the largest utilities and power generators in the US and Canada through its signature product, Marketplace. The company’s powerful online auction platform for large energy buyers and sellers not only offers an environment for buyers to secure the most competitive pricing, but also improves efficiency and saves time.
Fleming presented real-life case histories from Marketplace clients that illustrate how competitive an online auction can be, the powerful audit trail and regulatory reporting tools that are easily produced and the bottom-line cost savings and productivity efficiencies.
Pricelock, headquartered in Silicon Valley, leverages breakthrough technology to offer major energy buyers and sellers the most powerful and easy-to-use online energy auction platform. The company serves some of the largest power generators, utilities, commercial buyers, railroads, and airlines in North America. Its solutions are designed in close collaboration with leading industry buyers and sellers of natural gas, storage, pipeline capacity, power, gasoline, diesel, jet fuel, and coal to offer customers the ability to understand, control, and reduce energy costs in innovative ways. Pricelock has been recognized on the Forbes list of America’s Most Promising Companies, awarded the Global Energy Award of Excellence by Platts, and named one of the Hottest Companies in Silicon Valley by Lead 411. Pricelock’s investors include Artiman Ventures, Barclays, Goldman Sachs, RenaissanceRe and Traveler’s Insurance. To learn more about Pricelock please visit www.pricelock.com.
Pricelock Inc. Phone: 650.517.5400
Author: Pat Harden