Thursday 31st of March 2022 | Posted In: Contracts, Buying energy

NFU Energy management strategists can help you

Are you a large energy user spending too much time, energy and money on finding the best contract? Not sure whether to lock in a price now or wait to see if prices come down? You are not alone!

Flexible procurement or flex enables you to lock in prices for some or all of your energy at a time of your choosing.

There are two routes with flex dependent on how much energy you use.

If you use at least 750,000 kWh a year you could be completely independent as a flex purchaser. This means you are in full control. With the help and guidance of our trading team, you can make purchasing decisions throughout the term of your contract based on a risk management strategy that has been tailored to your business needs.

Alternatively, If you use between 300,000 – 750,000 kWh a year our ‘flex basket’ will enable you to access flexible procurement at lower volumes than is typically feasible. As part of a trading group, you can benefit from increased buying power, and the flexibility of having your energy purchased in blocks throughout the year keeping an eye on market fluctuations.

Whichever route you choose you will avoid the risk of locking into a high price simply because your previous deal is coming to an end. By purchasing energy on the wholesale market in a series of increments you can typically achieve a better average price across the term of your contract.

Non-commodity costs are also traded flexibly as part of the deal. This means the supplier can’t charge you non commodity rates that have been estimated (and which are usually over-inflated), and instead you pay as you go throughout the year benefitting from fluctuations in price.

With flex you can also make more use of your half hourly meter. This smarter way of working allows you to plan and manage your working day to use machinery and plant when electricity is at its cheapest.  Because the energy you buy is billed every half hour you’ll see the impact straight away rather than having to wait for your fixed price to change when your next contract begins.

  • You can choose how far into the future you want to buy energy from 1 to 3 years
  • You can be flexible with your energy usage and benefit from the changes you make straight away
  • You can fix a price on some or all of your energy at any point in your contract
  • You can choose what level of support you want from our team
  • Our invoice validation service ensures that you’re being charged fairly for the gas and  electricity you use
  •  Green energy is optional

NB. Any electricity or gas used without fixing a price in advance will be charged at the current wholesale price.

To talk more about any of the topics within this blog or for any other help with energy use in your business please get in touch on 024 7669 6512