Just as the country braces for a long, hot summer and highly volatile energy prices, a San Diego-based company held the first-ever Web-based, retail electric energy auction in the Western United States.
“The timing couldn’t be better for this technology to go live,” said Eric Rosenblatt, chief executive officer of the American Direct Access Exchange. “Large energy customers are eager to lock in energy prices and avoid expected market volatility.”
Rosenblatt cited a recent wave of stories appearing across the country warning of impending energy price shock. He also noted both of Southern California’s largest utilities , Southern California Edison and San Diego Gas & Electric Co. , have recently announced substantial campaigns urging customers to take advantage of the newly deregulated market and minimize their exposure to price shock.
The AMDAX system, a proprietary technology developed by the company, is the first live retail energy auction platform of its kind. AMDAX has opened the lucrative California marketplace to national energy service providers seeking to diversify their base and enter the recently deregulated California market, Rosenblatt said.
AMDAX hosted its first full-scale auction in San Diego, attracting a variety of large commercial and industrial companies, including the Oceans Eleven Casino in Oceanside.
Bob Moyer, general manager for Oceans Eleven, appreciated the online auction facilitated by AMDAX , a much easier process than putting out a request for proposals, he said.
“We run our facility around-the-clock, so we’re always conscious about energy cost and consumption,” he said. “The AMDAX exchange allowed our company to seek competitive bids without the time and expense of an RFP, and we have locked into a very good price prior to our highest consumption period of the year.”
Following the success of its initial exchange, AMDAX is quickly moving ahead with additional auctions throughout California, with an eye toward statewide coverage by year’s end, Rosenblatt said.
