STAMFORD, Conn.--(BUSINESS WIRE)--Tradition Energy announced today that it has created an innovative online electricity and natural gas supplier pricing system for businesses and governmental organizations. The Tradition Energy Pricing System (TEPS) was developed in-house and is a win-win-win for Tradition, its clients, and its stable of energy supplier partners because it improves process efficiency and transparency and increases price competition.
TEPS provides users with quick and easy access to a centralized database of comprehensive client and market pricing-related information. Tradition Energy Advisors log-in to TEPS to generate price requests and manage opportunities. Tradition’s Pricing Group utilizes the system to facilitate price requests and contract flow with electricity and natural gas suppliers who access TEPS to submit and confirm bids.
TEPS’ robust processing capability enables more pricing transactions at a lower cost, and due to the large volume of Tradition’s daily pricing activity, more suppliers can participate. When a pricing action is performed, team members are immediately notified and then the appropriate team member seamlessly finishes the next activity until the transaction is completed. TEPS also acts as a data warehouse for all executed agreements, so users have 24/7-access to historical bid requests and results if needed.
“Currently, 84 electricity and natural gas suppliers in the U.S. compete on Tradition’s TEPS pricing system,” said Alan Kurzer, CEO, Tradition Energy. “Our investment in this system, which is another integral link in our corporate-wide enterprise system, gives us the ability to present pricing requests to energy suppliers in a way that speeds their responses. Online transparency also makes it easier for suppliers to receive immediate feedback on their offers which results in more competition for Tradition clients’ business.”
TEPS is currently being expanded to process offers from all 227 energy companies competing to supply electricity and natural gas at the most competitive prices and terms to Tradition Energy clients globally.
About Tradition Energy
Tradition Energy is the nation’s largest and most experienced independent energy risk management and procurement advisor, serving more than 1300 commercial, industrial and governmental clients ranging from Fortune 500 global companies to medium-sized businesses to local municipalities. Tradition Energy is part of the Tradition Group, a leading global institutional broker of financial and commodity products. Tradition employs over 2,400 people in 28 countries around the world and is publicly listed on the Swiss stock exchange (CFT). www.TraditionEnergy.com