Transparent Energy Thrives as C&I and Institutional Customers Embrace Online Auctions to Become More Sustainable, Hedge Against Volatility
Company Wins New Large Energy Buyers, Deepens Talent Pool and Programs to Capitalize on Major Growth Opportunities
FAIRFIELD, N.J. and CHICAGO, Jan. 25, 2022 (GLOBE NEWSWIRE) — Transparent Energy, the national leader in auction-based energy procurement, today announced a surge in Q4 bookings, capping off a transformative 2021 that saw an increasing number of large buyers of electricity, natural gas, and green power turn to the company for its leading energy advisory and energy procurement services. Driven by growing demand for renewable energy and increasing energy commodity price volatility, Transparent Energy increased total energy under management by more than $250 million for the second consecutive year, attracting new PE firms, REITs, Associations, manufacturers, data centers, cities & towns, and other large energy buyers to its client roster; renewed customers at a record rate; and grew headcount by over 25% across departments.
“After years of historically low energy commodity prices, 2021 re-introduced something many energy buyers had become unaccustomed to – extreme price volatility,” said Dustin Scarpa, Co-Founder and Managing Partner, Transparent Energy. “As large energy buyers stared down a triple-digit surge in natural gas prices and its ramifications on electricity prices, the need to partner with a market expert, one with a proven process for providing price discovery and price compression while hedging risk, became paramount. Transparent Energy proved to be that partner, winning new business across the country, renewing existing accounts, and consistently exceeding client expectations.”
Transparent Energy’s key accomplishments in 2021 included:
- Increased total energy under management by more than $250 million for the second consecutive year, adding new PE firms, REITs, Associations, manufacturers, data centers, cities & towns, and other large energy buyers to its client ranks, while several of its BDMs exceeded Q4 quotas by more than 200%.
- Large-scale renewable energy transactions – over 2.6 million RECs since May 2020, greening over 2.6 billion kWh of electricity use across commercial, industrial, and institutional sectors, including large community choice aggregations (CCAs), cities and towns.
- Created two new revenue-generating divisions, Channels and Associations, gaining significant market traction in each.
- Increased headcount by over 25%, including several senior roles, deepening Transparent Energy’s talent pool in Sustainability; Sales & Marketing; Client Service; Business Development; Operations; and Market Intelligence & Pricing Desk to meet growing demand for its services.
- Best-in-the-industry customer satisfaction and auction close rates, topping 99%.
Concluded Paul Shagawat, Co-Founder and Managing Partner, Transparent Energy, “As energy continues to grow in strategic importance both from a sustainability perspective and as a cost center, large energy buyers need a procurement partner that can help them reduce their exposure to market volatility and transact green and traditional power with confidence. In 2021, Transparent Energy established itself as the go-to resource for both, while building out its team and capabilities to accelerate future growth and ensure client success in 2022 and beyond.”
For more information on Transparent Energy’s market leading energy advisory and procurement services, or to sign up for the company’s monthly market analysis, please see www.transparentedge.com or contact info@transparentedge.com.
About Transparent Energy
Transparent Energy is the go-to resource for C&I companies and institutions for energy procurement and energy advisory services. The company’s clients include large associations and automotive, education, financial services, healthcare, manufacturing, private equity, 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 Energy has driven hundreds of millions of dollars in operational savings for clients across North America. For more information, see www.transparentedge.com.
Contacts:
Business inquiries:
Jamil Ahmed
jahmed@transparentedge.com
(862) 210-8770
Media inquiries:
Dan Mees for Transparent Energy
Mees Communications LLC
dan@meescommunications.com
