How It Worked Everywhere Else

Since the onset of deregulation, energy brokers have been accustomed to receiving gifts, expensive meals, and lavish trips from suppliers in the name of relationship building. This quid pro quo approach can drive energy brokers to favor one supplier when selecting a winner at the end of a supposedly competitive bid process. Not only does this barrier to objectivity diminish the focus on the needs of the client, but it also produces subpar results that erode the entire value proposition of energy deregulation.

We Were on the Other Side

Prior to the launch of 5, many of our team members worked for large electricity suppliers. We were the suppliers taking brokers on trips and buying them expensive dinners to "earn" their business. We did not start off with that approach, but many of us eventually caved to the pressure and found that the more we gifted the brokers, the more they selected our respective companies as the winning suppliers. We couldn't change the fact that we were once a part of the quid-pro-quo machine. What we could do was build a company that makes the choice for our people in advance.

The 8-to-5 Rule 

From day one, we implemented an "8-to-5 Rule" that has kept our team members free and clear from facing this moral dilemma. This policy states that no member of our team, including senior management, accept gifts, dinners, entertainment, or trips from any supplier, except for the occasional meal and meeting during traditional working hours. Furthermore, when we do meet with a supplier for breakfast, coffee, or lunch, we often pay the bill as a symbol of our appreciation for the role the suppliers play in helping to serve our clients.

Our strict adherence to the 8-to-5 Rule caused initial friction with some suppliers as they struggled to gain any special advantages with our team members. Over time, however, many of our strongest supply partners came to understand that the best way to earn more of our business is to provide stellar service, products, and billing to clients while also working closely with our internal team to address on-going needs and opportunities. Suppliers that are consistent, solution-focused, and that genuinely care about the client experience are well-positioned for continued growth within our client base. I am proud that our 8-to-5 Rule has kept our team's objectivity in place while also serving as a light to brokers and suppliers in our industry who also recognize the need for a new and better approach.