A collective £1m. has been saved by East Lancashire businesses by taking control of their energy spend.
Members of the East Lancashire Chamber of Commerce have seen utility bills significantly reduced, many by five figure sums, through a bespoke energy procurement and management programme delivered by Businesswise Solutions.
The Nelson energy specialist, Diamond Ambassadors of the Chamber, launched the partnership entitled Chamberwise Affinity, a strategic group purchasing solution which will guarantee members reduced costs and budget certainty for years to come.
Since its launch late last year, the partnership has handled £15m. worth of utilities spend for Chamber members with outstanding results.
Peter Catlow, Businesswise Solutions’ director, said: “Wholesale costs are currently the largest component of final consumer bills, so understanding what drives changes in wholesale prices is crucial for businesses if they wish to protect their interests both now and in the future.
“Over the past decade, the trend for both gas and power wholesale prices was typically more up than down, but recently this trend has changed and prices have fallen, driven by a combination of the loosening of global gas markets, significant declines in the price of oil and local drivers such as mild weather, which has reduced demand.
“Taking into account these contributing factors, has enabled us to advise companies on forward-thinking strategies that has seen some dramatic cost saving results.
“Operating in a market driven by external factors, many of which can often be unforeseen, means constantly fluctuating prices. Recent events led by the UK’s exit from Europe pose threats of future price rises and these, coupled with the rising costs of non-wholesale costs - soon set to reach 60% of a business’ bill – means further uncertainty for consumers.
“We are constantly working to negate these costs for our clients and will continue to with Chamber members to maintain reasonable costs and protect them from any risk.”