Transparent Energy Guides Clients to Success in 2024, Grows Electricity, Natural Gas, and Renewable Volumes under Management by 30%, 70%, and 104%, Respectively

Company Notches 15th Consecutive Year of Annual Recurring Revenue Growth, Leverages Industry-Leading Energy Procurement Platform to Increase Deal Throughput

/EIN News/ -- FAIRFIELD, N.J., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Transparent Energy, the national leader in auction-based energy procurement for electricity, natural gas, and renewables, today announced it posted sizable gains across key operational metrics in 2024, including total contract value (TCV), volumes under contract across energy types, and average contract term length. These performance improvements – the latest in a 15-consecutive-year growth run – occurred without increasing headcount, highlighting the leverage in the company’s operating model.

In a year marked by growing energy demand and increased market volatility – driven in part by AI data center expansion and a global thirst for LNG – Transparent Energy helped a record number of large energy users capitalize on available opportunities to secure affordable rates and protect themselves from upside price pressures. As a consequence, the company grew contracted electricity volumes by 35% and natural gas by 70%. Additionally, Transparent Energy continued to help its customers on their decarbonization journeys, increasing renewable energy volumes under contract by more than 100% during the year, while also signing exchange agreements (EAs) for two new virtual power purchase agreements (VPPAs) with large-scale investors in green power.

“In 2024, Transparent Energy won significant new business across the board with auctions in renewables, electricity, and natural gas in every geography and all our key verticals, from data centers and manufacturing to real estate, hospitality, and life sciences facilities,” said Dustin Scarpa, Co-Founder and Managing Partner, Transparent Energy. “In each case, our team over-delivered, exceeding the expectations of prospective clients who gave our team the opportunity, demonstrating the combined value of our proprietary sourcing process, advanced RFP technology, and expert staff.

“Together, the centralizing of talent and technology make it possible for our clients to identify buying opportunities, extract the best possible utility pricing in the market, and manage their risk. These strategic capabilities will only grow in importance in 2025 as we continue to focus on the largest electricity and natural gas consuming operators across the middle market and within the Fortune 500.”

2024 Successes

Transparent Energy achieved strong growth in 2024, successfully honing its offerings for Fortune 500 and other large energy buyers. Highlights from the year include:

1. Major new customer wins, including a buying group for a national fast food brand, which led to millions of dollars in client savings; a data center hyperscaler with 600 million kWh of load (and projections to grow load to 1.2 billion kWh); a leading big-box retailer; and an iconic multi-use Chicago skyscraper.
2. Signed EAs with two new customers for VPPAs and successfully renewed major contracts with community aggregations making large-scale REC purchases totaling over 950 million kWh.
3. Portfolio growth within established customers, including a Fortune 10 healthcare company, a top 5 owner/operator of hotels, a leading national suburban office company with over 20 million sq. feet of commercial property, and several PE firms.
4. Successfully articulated buying opportunities against the backdrop of future price pressures, leading to a surge in power, natural gas, and renewable purchases, and a 27% increase in average term lengths.
5. Grew contracted commodity volumes as follows: electricity (+30%); natural gas (+70%); renewable energy (+104%).
6. Processed these large load increases without increasing headcount, highlighting the productivity of Transparent Energy’s operating model.
7. Achieved a 99% auction close rate, underscoring the reliability of Transparent Energy’s auction-based platform and procurement process.
8. Established 19 major new partnerships, including with FSG, Sax LLP, T&M, and Cherry Baekert, seeding future growth.
9. Teamed with the company’s Strategic Advisory Board to sharpen focus on, and approach for, Fortune 500 customers, including Chief Procurement Officers, resulting in key wins. In addition, Transparent Energy successfully added Diane Schwarz, former CIO of Johnson Controls and current CIO of Smurfit Westrock, a global leader in sustainable paper and packaging, to its Board.
10. Increased ARR on electricity and natural gas business by 67% and 42%, respectively.

Concluded Paul Shagawat, Co-Founder and Managing Partner, Transparent Energy, “2024 will be remembered as the year the energy market’s ‘tectonic plates’ began to shift as AI’s game-changing impact on energy demand became clear. Against this backdrop, we successfully educated our customers and prospects (who soon became customers) that a more volatile, riskier pricing environment could lay ahead, presenting an excellent, near-term buying opportunity. Customers responded by locking in attractive rates through our platform, while contracting for longer term lengths to maximize their gains and take risk off the table.

“Our approach netted us some of the biggest new customer wins in our 15-year history and also helped us ‘spread the wealth’ among our existing customers’ portfolios as they standardized their energy procurement processes on Transparent Energy’s platform. I see both these trends – strong new customer acquisition and organic growth within our customer base – accelerating in 2025 as the strategic implications of ‘sourcing energy correctly’ become more and more apparent to Fortune 500 companies and other large energy buyers.”

For more information on Transparent Energy’s market leading energy advisory and procurement services, or to sign up for the company’s monthly market analysis, please see www.transparentedge.com or contact LetsTalk@transparentedge.com.

About Transparent Energy
Transparent Energy is the go-to resource for C&I companies and institutions for renewable and traditional energy procurement and advisory services. The company’s clients include large associations and automotive, cultivation, data center, education, financial services, healthcare, life sciences, manufacturing, private equity, real estate (REITS and property management), retail, and technology firms. With a proven process delivered by retail energy’s most experienced professionals and state-of-the-art online auction technology, Transparent Energy has driven hundreds of millions of dollars in operational savings for clients across North America. For more information, see www.transparentedge.com.

Contacts:

Business inquiries:
Jamil Ahmed
EVP, Operations, Transparent Energy
jahmed@transparentedge.com

Media inquiries:
Dan Mees for Transparent Energy
Mees Communications LLC
dan@meescommunications.com