How energy procurement benefits your business

In the current economic climate, energy contracts are contentious issues for all businesses. But it’s also important to keep an eye on securing a good deal if your current contract is up in 12 to 18 months.

However, as a result of energy procurement, you can pre-empt any forthcoming problems and get the most out of your energy contracts – today and in the future.

What is energy procurement?

If you lock into a bad contract, it can cost your company big time. With energy procurement, you use a third-party supplier to help identify, source and acquire electricity and gas contracts.

How energy procurement works

Energy procurement can create a cost-effective energy plan for your business. But first, an energy procurement service (EPS) will need to run an analysis of your organisation to chart your energy usage patterns. And as soon as the results are compiled, they can develop a tailored plan of action to reduce the risk of unexpected charges.

But it doesn’t end there.

Following the analysis, they’ll determine which energy providers offer the most competitive pricing for your company and then negotiate a contract for your electricity, gas and renewable energy sources.

Once your contract is in place, they’ll monitor your energy usage, invoices, market developments, and contract renewals.

What are the benefits of energy procurement?

So, now you know what it is and what’s involved. Here are the benefits of energy procurement for your business:

1. Low risk of hidden fees, costs and charges

You can lock in the best deals that reduce the risk of unexpected costs. Doing it alone is time-consuming; it only takes missing something in the small print to be hit with hidden charges.

The company you work alongside will ensure this doesn’t happen, getting you the best contracts for the needs of your business.

2. Reduce energy costs

Working with an EP service will save you money on gas, electricity and renewable energy. Finding savings in your usages will reduce your costs, but you’ll reap larger benefits through procurement long term.

3. Reduce greenhouse emissions

Energy procurement allows you to discover where and how to reduce your carbon footprint. Not only will this make you a more attractive prospect to suppliers and new staff members, but it will also improve your company’s reputation.

4. Development of a strong energy procurement strategy

Finding the lowest price is great, but it’s also about establishing a relationship with the best suppliers that suit your business’s energy needs. A robust strategy gives you better control over your terms and costs.

5. Cost tracking

Working with a third party helps you to keep track of your utility costs to help you prepare more accurate budgets. In turn, this will give you greater insight into your operational costs.

6. Improve forecasting

An EP service will help your business to minimise risks and make consistent predictions that lower energy consumption and costs.

Want your business to benefit from energy procurement?

Then why not speak to Inteb?

Our experience in net-zero strategy and energy efficiency has helped clients lower emissions, reduce waste, and save money on their energy bills. And it’s this experience and in-depth understanding that makes us the ideal partner to help your business to become carbon neutral.

To find out more, visit the ESG and Net-zero Carbon section on our services page, then get in touch.