Expert view: Reducing your energy costs? It’s about time
Trident Utilities’ Darren Robertson shows businesses how timing is key to putting them in control of their energy procurement.We’re ‘pre-programmed’ to arrange our new energy contract only as the old one reaches its end – and it’s costing us a fortune.
If you renegotiated a new gas contract amid the extreme market volatility of the last few years, you could have paid well over 50% more than someone buying just a few months earlier. Even now, timing your procurement can still save you well in excess of 20% on the prices you may pay if you wait for the contract to run its course.Too many organisations let their diary dictate when they buy. They arrange their new deal only as the old one nears its end. That limits their choice and forces them to buy at the price that’s presented to them.
You don’t have to wait to renew your energy contract. And you don’t have to settle for a 12 month deal. Watch the market and you can set your next contract when prices are at their lowest – and fix those prices for two or even three years.Instead of letting the market dictate the prices at which you buy, you set the price you aim to pay and wait for the opportunity to realise those prices. That does more than save money. It gives you control, helping you plan and budget more effectively.