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7 Key Points from our Energy Webinar
If you missed out on attending our recent live Energy Procurement Webinar, presented by our panel of energy experts, don’t worry. Our speakers have put together a short recap covering the important discussion points.
1. Engage Key Stakeholders Early
Engage decision makers early. Energy prices move quickly and clients who consistently “get it right” are those that engage their stakeholders early in the process. Start your procurement planning in advance, 12-18 months before your contract is due to expire.
2. No Surprises – Communication is Key
Just like your Account Manager keeps you informed to minimise surprises, those in charge of budgets or signing off on them need notice that your future energy expenditure could rise significantly. For some of our clients, the shift in the market has seen their energy costs more than double, for their 2022-2024 contracts.
3. Energy is a Volatile Market
There are no certainties when it comes to energy costs, given the current global and domestic market drivers (Russia-Ukraine conflict, global demand LNG, Australian black coal in demand o/s, local coal-fired power stations closing) it is likely the cost of energy will continue to be volatile, and therefore require continuous monitoring to recognise and act on any opportunities.
4. Be Ready to Accept A Competitive Offer
In a volatile market where rates are changing rapidly, offers can be valid for a few hours to 4 days. If you have to go through multiple or lengthy sign-offs then you may miss out on the best offer. Boards and key partners need to understand you have a short window to secure your contract and you need to be agile in this market.
5. Know Your Options
There is more than one way to procure energy. Traditional procurement, PPAs, Blend & Extend and Progressive Purchasing are a few of the options available. Discuss your options with an expert.
6. Understand Your Bills
Your electricity bills are made up of many components and many factors affect these charges. As an energy user, the portion of these invoices that is within your control is the Energy Charges component of the bill, by working with an energy consultant to negotiate a competitive rate for the contracted period.
7. Reduce Energy Costs In Other Ways
Take a holistic approach to your business’s energy costs and conduct an energy audit. This will take into consideration: how you use energy, ways to reduce consumption, improving efficiency and generating your own energy by investing in solar.
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At Sustainable Energy Solutions, we work with clients as an extension of their team. We take the time to understand the nature of the energy portfolio, goals and drivers. These may include short term or long-term goals, closing or adding sites, reducing emissions or cutting costs.
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