Flexible contracts: Commodity cost reduction and streamlined invoicing
The spike in energy prices throughout 2022 has seen many businesses desperately seeking to reduce costs and manage their consumption more efficiently. The crisis has particularly affected energy intensive businesses and SMEs.
As a result, we have seen an 80% increase in flexible contract sign-ups. This energy procurement offering is normally only undertaken by large businesses but our service makes this accessible to the SME market as well.
One SME that has benefited from our flexible energy service is a family-owned bookmaker. Established in 1961, they own 47 shops, located across Southern England, Jersey and The Isle of Man.
Our relationship with the company began on 20th August 2022. They initially reached out to us via live chat after reading about our flexible contracts service in The Times.
At the time they were on a fixed contract service which was coming to an end. We were able to add them to a ‘flex basket’ which groups several SMEs together, enabling us to set them up on a flexible contract.
Owning multiple sites, the company has been impressed by Control Energy Cost’s efficiency in picking up their individual contract renewals and the streamlining of their invoicing, making the whole process painless and much more consolidated.
The flexible contract offering has enabled them to capitalise on the volatility of the wholesale market, by exposing them to day-ahead prices which more accurately reflect the market conditions at the time. This has generated significant financial savings, lowering the commodity cost element of their energy bill by 72%.
Our close relationship with Business Power and Gas (BPG) Energy and their partnership with Stark has enabled the company to access unique data insights and analysis that is not typically available through other energy suppliers.