REDWOOD CITY, Calif.--(BUSINESS WIRE)--Pricelock, a leader in online physical energy transactions, announced today that it has launched Pricelock Partnership Program allowing energy management, procurement and supply chain optimization consultants and service providers to utilize Pricelock’s robust suite of energy transaction products and network of hundreds of energy suppliers. By participating in the partnership program, energy services firms are able to serve their clients more strategically, increase their operating efficiency, expand their product offering and improve services. The end customer benefits from greater transparency into the energy procurement process and better energy prices.
Pricelock’s partners received access, at no cost, to the same tools and platform that is used by some of the biggest utilities, power generators and distribution companies for their energy purchases. Further, Pricelock’s robust network of top suppliers in North America is already enabled and can be leveraged across a variety of energy products including power, natural gas, motor fuels and coal. The partnership program will enable energy consultants to help their clients across all types of energy, even those where they haven’t provided procurement services previously.
“By partnering with Pricelock, energy managers and consultants are able to combine their knowledge of the energy markets with Pricelock’s supplier liquidity and technology to help make their energy procurement more competitive and efficient. Not only do they avoid the headaches and upfront cost of building an energy procurement platform themselves but they can turn what has traditionally been a cost center into a profit center,” Naveen Agarwal, Chief Executive Officer of Pricelock explains.
Agarwal elaborates on the strategy, “Pricelock’s goal is to radically improve the way physical energy is transacted and we’ve had some of the largest energy players participate on our platform. By creating the Pricelock Partners Program we allow energy consultants and energy service providers to utilize an energy procurement platform with all the features demanded by the very largest players in the energy markets.” Agarwal continues, “In early conversations with some of the largest energy firms, we are pleased with the positive response the partnership program is receiving. We’ve created a real win-win; energy services companies expand their offering, we maintain our focus, and both of us grow our revenues.”
Pricelock’s online energy transaction platform provides large energy buyers and sellers an easy and efficient way to transact energy and energy-related products. The platform supports transactions for power, natural gas, natural gas storage, distillates, jet fuel, coal and railcar leases. The largest refiners, utilities, power generators, investment banks, marketers, transportation, industrial and commercial firms participate on the platform. Pricelock’s mission is to innovate and provide liquidity for products that cannot be traded on an exchange.
Pricelock is headquartered in Silicon Valley and is the recipient of several awards including Forbes list of America’s Most Promising Companies, Global Energy Award of Excellence by Platts and Hottest Companies in Silicon Valley by Lead 411. Pricelock’s investors include Goldman Sachs, Barclays, Traveler’s Insurance, RenaissanceRe and Artiman Ventures. To learn more about Pricelock please visit www.pricelock.com.