Emex LLC, which has had “amazing success” with its natural gas reverse auction online platform in New Jersey, has launched the service in Illinois, the Houston-based company said Tuesday. Theplatform services the Northern Illinois Gas, Peoples Gas and North Shore Gas utility service territories, Emex said.
In addition to the natural gas service in New Jersey and Illinois, Emex provides electricity reverse auction platforms in 10 deregulated states and the District of Columbia. The service provides a way for suppliers to bid online for the energy needs of businesses, municipalities and commercial and industrial parks.
The reverse auctions take 10-15 minutes and allow customers to procure energy at low prices, Emex said. “The most compelling hedges available for our Illinois customers to secure guaranteed savings in natural gas will be generated through the reverse auction platform,” said Emex Vice President Ryan Segmond.
Privately-held Emex specializes in energy procurement-based risk management consulting in deregulated regions of the United States.
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