Needs assessment
The process begins with a thorough assessment of the organisation's energy needs. This involves understanding the energy demand, usage patterns and any specific requirements related to reliability or sustainability.
Market analysis
Energy procurement teams monitor and analyse the energy market to understand trends, pricing structures and potential risks. This analysis helps in making informed decisions about when and how to procure energy. Fuel cells are highly efficient and can produce electricity with almost no emissions if the hydrogen used is produced through renewable energy sources (green hydrogen). This makes fuel cells a vital technology for achieving sustainability goals and transitioning to a low-carbon energy system.
Supplier identification
Organisations identify potential energy suppliers based on their specific requirements. This may involve evaluating suppliers' capabilities, reliability, pricing structures and any additional services they offer.
Request for proposals (RFPs) or Bidding
Organisations may issue RFPs or conduct competitive bidding processes to invite offers from potential energy suppliers. This helps in obtaining competitive pricing and contract terms.
Contract negotiations
Negotiations take place between the organisation and selected energy suppliers to establish favourable terms and conditions. This includes discussions about pricing structures, contract durations, renewable energy options, risk management and other relevant terms.
Renewable energy procurement
If the organisation is committed to sustainability goals, it may include the procurement of energy from renewable sources. This can involve entering into power purchase agreements (PPAs) with renewable energy project developers or purchasing renewable energy certificates (RECs) to support clean energy generation.
