It would be fair to say that the energy market in 2017 saw unprecedented volatility in a very short space of time. Whilst energy has been in the spotlight for all the wrong reasons, we are seeing softening of the rates for the first time since February 2017. Preparation is a critical part of any energy procurement strategy. Here’s a quick guide that we’ve put together for our clients:
1. Taking advantage of market timing and experts who track the market on your behalf.
Whilst there’s been significant media attention about energy costs doubling in some cases, our Account Management team is constantly tracking opportunities in each state and will call you from time to time with relevant opportunities for your business.
2. Budget preparation.
If you’re coming off a contract that we negotiated between 2014 and 2016, then you have been protected from the rapid increase experienced in 2017. Running a tender will give you a thorough indication of what your energy spend is likely to be moving forward and most importantly, will enable you to be better prepared for an increase.
3. Last but not least… as the saying goes “A bird in the hand is worth two in the bush”.
When your Account Manager runs a tender for your business, you will receive offers from multiple retailers with a validity period of between 1-5 days. During this period, your Sustainable Energy Solutions Account Manager will give you updates regarding market trends. Knowing when to hold off is just as important as being prepared to take the best offer. However, this becomes more difficult if you leave your contract negotiations till the last minute.
4. Send us your letter of authority.
If your contract is due for renewal in 2018, download and reply back with your Letter of Authority and a recent bill for a market review against your current rates. If you are are unsure of when your contract expires, we can collect the information from the retailer on your behalf.
To discuss your energy needs in 2018, contact one of our Account Managers