Chamber members wise up to £1m savings

Businesses across East Lancashire have safeguarded a collective £1m by taking control of their energy spend.

Members of the East Lancashire Chamber of Commerce have seen utility bills significantly reduced – many by five figure sums - through a bespoke energy procurement and management programme delivered by Businesswise Solutions.

As Diamond Ambassadors of the Chamber, the Nelson-based energy specialist launched the partnership ‘Chamberwise Affinity’, a strategic group purchasing solution which will guarantee members reduced costs and budget certainty for years to come.

Since its launch late last year, the partnership has handled £15m worth of utilities spend for Chamber members with outstanding results.

Peter Catlow, Businesswise Solutions’ director, said: “Wholesale costs are currently the largest component of final consumer bills, so understanding what drives changes in wholesale prices is crucial for businesses if they wish to protect their interests both now and in the future.

“Over the past decade, the trend for both gas and power wholesale prices was typically more up than down, but recently this trend has changed and prices have fallen, driven by a combination of the loosening of global gas markets, significant declines in the price of oil and local drivers such as mild weather, which has reduced demand.

“Taking into account these contributing factors, has enabled us to advise companies on forward-thinking strategies that has seen some dramatic cost saving results.

“Operating in a market driven by external factors, many of which can often be unforeseen, means constantly fluctuacting prices. Recent events led by the UK’s exit from Europe pose threats of future price rises and these, coupled with the rising costs of non-wholesale costs - soon set to reach 60% of a business’ bill – means further uncertainty for consumers.

“We are constantly working to negate these costs for our clients and will continue to with Chamber members to maintain reasonable costs and protect them from any risk.”

In coming months too, Businesswise will be able to offer members the opportunity to save on water bills following the pending deregulation of this vital utility.

Peter added: “Key to the strategic long term solution of all utility services is the use of Businesswise Solutions’ bespoke management portal, UTILITYi, enabling businesses to get to the very core of their consumption patterns and identifying and alerting businesses of high cost drivers and unusual spikes in activity across the board."