LOCAL START-UP Exora Technologies has introduced a platform for establishments that have an average of 750-kilowatt peak demand per month to help reduce their electric bills.
Exora Source, which started working with clients earlier this year, assesses a contestable costumer’s consumer habits to recommend the best retail electricity supplier (RES) for them.
Contestable costumers are those who have 750-kilowatt average peak demand per month or have electricity bills of P2.5 million or above.
“Our platform, called Exora Source, will help you find the retail electricity supplier that best fits your energy profile and needs, which can help you save up to 30 percent in your electricity bill,” Sergius U. Santos, chief executive officer of Exora Technologies, said in a statement.
“The problem with that niche market…it’s still very much, I think, supplier-centric. And since the market is very esoteric and hard to understand, and there’s a lot of businesses who don’t have their own energy procurement arm…we help them through our platform,” Mr. Santos said during an interview.
Exora will stand as the “specialized procurement arm for the consumer.” Mr. Santos said they streamlined the process which usually takes up to six months down to less than three weeks.
Exora evaluates the contestable costumer’s electricity consumption behavior through site visits, review of past electricity bills and asking questions on their consumption behavior.
The profile of the contestable costumer’s will be generated from these information which will be used by RES for the enhanced competitive bidding process of Exora.
Factors such as location and energy contract type are also taken into consideration.
“The consumers select what they’re most comfortable with…kasi we have a top ten or a top five depending on the number of bidders and then from there they choose. We reveal the RES and what they want. There’s a lot of value added service.”
Mr. Santos expects around 20 clients for the company, “2020, 2021, we’re expecting maybe 15 to 20 big clients in our pipeline willing to try this Exora Source,” he added.