Reverse auctions help agencies with transparency

Monday - 9/13/2010, 8:35pm EDT

Richard Domaleski, CEO, World Energy

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We all know the kinds of games that can be played by people bidding at an auction. Imagine those games in reverse.

Richard Domaleski, CEO of World Energy, an energy procurement company, says reverse auctions are one way agencies can make the contracting process more open and transparent.

World Energy has been working with the General Services Administration since 2001 and was just awarded a new five-year contract with GSA.

Domaleski told the DorobekINSIDER how reverse auctions work and how his company is working with GSA.