Career Definition of an Energy Broker
An energy broker specializes in purchasing or selling energy services for homeowners, commercial customers, or utility companies. A primary focus is negotiating contracts with vendors. Energy brokers usually work full-time, with some positions requiring travel. They may work directly for utility companies or for consulting companies.
Energy brokers' responsibilities can vary depending on the type of organization. General job duties may include predicting future energy needs to reduce costs and maximize availability, developing energy product packages focused on customers' needs, and examining customers' utility expenses to determine the best rates for them. Energy brokers can obtain clients through networking, industry events, and cold calling. They also cultivate relationships with current clients to encourage account renewals. Energy brokers may provide technical guidance to colleagues, as well as train service team members. They may also review contracts with clients, examine bids from energy providers to select the best ones, and provide clients with ways to minimize their energy costs, such as alternative energy sources or by utilizing renewable energy credits.
|Educational Requirements||Bachelor's degree|
|Job Skills||Excellent interpersonal skills, strong technical abilities, analytical abilities, and strong client management skills|
|Median Salary (2020)*||$74,669|
|Job Outlook (2018-2028)**||7%- 10%|
Sources:*PayScale.com,**U.S. Bureau of Labor Statistics
Individuals will need a bachelor's degree in economics, finance, or risk management to work as an energy broker. Relevant work experience in the energy market will be beneficial. Interested individuals can pursue certification in professional organizations like The Energy Professionals Association. The organization's mission is to ensure standard procedures in the field by giving professionals the knowledge they need.
Excellent interpersonal skills, especially negotiation ones, are an essential asset for an energy broker, since they are responsible for interacting with clients and vendors to ensure the best price and quality of energy services. Energy brokers should have strong technical abilities, including customer relationship management software like Oracle Siebel CRM, Microsoft Access, and enterprise resource planning software like SAP. Analytical abilities are needed to evaluate market trends, supplier contracts, and customer's energy usage and bills. Energy brokers should also have strong client management skills, as they are managing the needs of customers and the acquisition of energy services.
Career Outlook and Salary
The U.S. Bureau of Labor Statistics (BLS) does not collect statistics on energy brokers; however, they reported a 7% - 10% growth for the category of sales representatives, services, all others, during 2018-2028, which is about as fast as average for all occupations. In May 2020, PayScale.com reported a median annual salary of $74,669 for energy brokers.
Individuals considering a career as an energy broker might also be interested in one of the related careers profiled below. They offer candidates the opportunity to use their skills in other sales or energy-oriented positions.