FOR IMMEDIATE RELEASE
Bidwell Features Familiar Faces, Proven Wholesale Procurement Approach, and Advanced Online Auction Platform for Transacting Physical and Financial Energy Products for Utilities
East Windsor, Conn. – January 29, 2019 – In a move that will impact the way utilities purchase their energy, industry veterans Lorraine Alexander and Elisabeth (Charnley) Bottomley, pioneers of auction-based, wholesale energy procurement while at World Energy Solutions (acquired by EnerNOC in 2015) announced they and partners Russ Monroe and Tim Lockwood have purchased the rights to the Pricelock auction platform and have launched a new wholesale energy procurement platform and company, Bidwell Energy, LLC.
Featuring a team of all-star wholesale energy procurement professionals led by Alexander and Bottomley and an advanced utility-scale online auction platform that leverages Pricelock technology, Bidwell brings a complementary, flexible approach to wholesale energy purchasing rooted in over a decade of transactional excellence. While at World Energy, Alexander and Bottomley led Wholesale Sales and Operations, respectively, and together designed and executed over $22 billion in wholesale energy transactions for major utilities across the country.
“We’ve learned so much over the last 15 years working closely with utility clients and their procurement teams, especially that it is our utility clients, not any consultant, who make this market,” said Alexander. “Utilities have very sophisticated buying programs, deliberately structured with specialized strategies and processes by their internal teams because they know their customers and the surrounding stakeholders and policy better than anyone.
“Our role as a partner in these programs is to apply our technology platform and our experience to utilities’ existing, already-vetted procurement programs. We understand that the products utilities buy, their buying processes, and the nature of their relationships with the bidder community are not to be disturbed. Bidwell helps our clients get the best results in the market through a transparent, proven process that maximizes competition while reliably meeting regulatory approval.”
Added Bottomley, “At Bidwell, we have a lot of experience transacting a wide variety of energy products for utility clients, a skill we honed over many years and many successful transactions for major utilities across the U.S. and Canada. Whether our utility clients are purchasing financial or physical products, we know how to help structure an online auction event to drive competition and prove to regulators that our clients left no stone unturned in delivering the best possible rates to their customers.”
“We welcome the launch of Bidwell and the return of Lorraine and Lis to the fold of wholesale energy procurement,” said Angela Wojtowicz, Director Generation Optimization, DTE Energy Company. “Over the years, we have conducted many successful procurements with them and trust their integrity, professionalism, and dedication to enhancing utilities’ commodity transactions.”
Optimized for utilities looking to enhance their current buying programs and reporting through advanced auction technology and best-practices in event design and execution, Bidwell is now open for business. For more information on the Bidwell team, approach, and platform, visit Bidwellenergy.com.
About Bidwell Energy
Bidwell Energy, LLC specializes in wholesale energy procurement for utilities. The company combines an expert team that has structured and transacted over $22 billion in wholesale energy purchases and an advanced utility-scale online auction platform leveraging technology from Pricelock to deliver utilities and their procurement teams a flexible, complementary, and technology-assisted approach to buying physical and financial energy products. A majority women-owned business, Bidwell leads with client service, market savvy, and unrivaled experience helping its market-making utilities bring the best possible rates to customers backed by the reporting to prove it. For more information on Bidwell, visit Bidwellenergy.com.