The Energy Awards Shortlist Success
The Energy Awards 2019 has released its annual award shortlist and we’re delighted that EIC has been successful in two categories.
Category 1 – Energy Buying Team of the Year
We’re here to simplify the process of buying and managing energy. We match clients with the right contract for their business. The Energy Awards recognised our success in this field and have shortlisted EIC for Energy Buying Team of the Year for our flexible procurement offering.
Our flexible purchasing solutions begin with a strategy development workshop with our clients. We conduct a detailed discussion of the client’s business objectives and appetite for risk, seeking to identify their key priorities for the contract. We also review their current situation and any upcoming projects that could affect their portfolio or consumption.
Public Sector Portfolio
Our Public Sector Portfolio is an OJEU compliant group flexible purchasing solution. It adds value by removing the administrative burden faced by public sector organisations when procuring contracts, and reduces the timeframes when securing their supply agreement. This has proven a real hit with universities, councils and NHS Trusts.
A team effort
There are multiple teams working collaboratively to make the flexible procurement service a success. Our clients are fully supported throughout the procurement process with a dedicated Account Management team. Traders work within the parameters of a client’s strategy making decisions based on insight from our Market Intelligence team.
In just one week our flexible procurement traders locked in a massive £343,000 for our flexible procurement clients. In fact in a single month – March 2019 – savings topped £771,000. What’s more, calendar year savings have exceeded a staggering £2.1million for the period January – August.
Category 2 – Energy Data Collection and Analysis
Our shortlist for the Energy Data Collection and Analysis award focuses on our 360 Strategic Energy Review along with our Triad model and alerts.
360 Strategic Review
Our 360 Strategic Review is a powerful data tool created to unearth hidden savings potential for our clients. We take half-hourly data and analyse it on a site-by-site basis. We focus on where reductions in usage can be made and the associated cost savings. It looks at shifting consumption to avoid the peak Distribution Use of System (DUoS) charges, reducing consumption in the winter to mitigate Transmission Network Use of System (TNUoS) charges, and assessing usage against operational hours to identify out of hours wastage. On average we’ve identified savings of £130,639 per customer so far.
Triad model and alerts
National Grid identifies three Triads each year in order to calculate the Transmission Network Use of System (TNUoS) charges an organisation will incur. Such transmission costs can be reduced if demand is decreased when a Triad is expected. Our Triad model and alerts help clients plan their electricity usage around these dates in order to lower their energy bills.
Our model used from 1 November to the end of February, identifies which days and what time periods on those days could be a Triad. We then inform our clients using our alert service whether they need to take action to reduce demand and avoid a Triad. We have issued an alert on all three Triad dates for the past 7 years. Last year we issued 24 alerts compared to suppliers who had similar results issuing on average 29 alerts. It’s vitally important for us to issue as few alerts as possible to avoid any unnecessary client interventions.
Our teams work really hard every day to ensure our clients get the right solutions for their businesses. It’s great to have been recognised for our efforts. We’re looking forward to the awards ceremony which take place on Thursday 21 November at the London Hilton on Park Lane. We’ll keep you posted on our success.
Weekly Energy Market Update – 20 January
Gas Gas prices fell heavily again last week with contracts across the curve falling to new lows. Price drivers for the market are unchanged with...
Weekly Energy Market Update – 13 January
Gas Gas prices on the curve moved lower week-on-week, with the market close to the record contract lows seen at the end of December. However,...