Frequently Asked Questions
A Reverse Auction is an auction in which the roles of buyer and seller are reversed. In a reverse auction, the customer specifies its energy needs and the suppliers submit price offers to supply the energy.
At a prearranged date and time, several suppliers will log on to the EAH auction site. When the bidding process begins suppliers enter price offers. Suppliers can see what their competitors are offering and are able to reduce their price to win your business. These quotes reflect the prices at which the suppliers are willing to supply the requested energy commodity. You watch the process in real time and after the auction is complete you may choose the best offer.
Any residential or business customer can benefit from scheduling an auction regardless of their annual usage.
The auction itself will take 10-20 minutes. Prior to the Auction, you will meet with an EAH representative to explain the Auction process. Our Customer support teams will be available at anytime to assist you with any questions.
EAH only works with suppliers that have established a track record of outstanding customer service and highly competitive pricing. Electric and Natural Gas suppliers will be selected to best suit the usage profile of your account.
You are under no obligation to sign at the end of the auction. You may re-schedule your auction at your convenience if you are not completely satisfied with the auction results.
Yes, you can use the Reverse Auction program for the procurement of energy commodity that you need in the future, provided your current energy contract(s) is expiring in the next 12 months.
Suppliers need a minimum of 3 days to lead time to prepare pricing for your auction. We recommend scheduling auctions about 5 business in advance.
Your information is always kept confidential; only information required to assist Energy Auction House in procuring the most favorable rate for you is divulged and will never be used for any other purpose.
What is a Reverse Auction?
What type of customer qualifies for an auction?
How long does an Auction take?
How do you select suppliers?
Am I obligated to sign with the lowest bidder?
Can I still participate if I already have a contract for electric power or natural gas?
How far in advance do I need to schedule an auction?
What about Confidentiality?
Still have questions? Contact Us!