The wholesale energy market has been falling now since July 2014 apart from a few blips along the way, but on the whole prices are the lowest they have been since around 2010. But does this mean you are guaranteed a saving on your next energy contract renewal?
With gas supply contracts yes, chances are we can get you between 10-15% saving on average, however, with electricity it might not be so simple. Third Party Charges (TPCs) are having a big impact on energy costs and are the main reason for rising electricity bills. For example, third party costs can now account for approximately 50% of the delivered electricity bill price compared to about 30% five years ago.
Businesses are now beginning to realise how important these elements are during the contract renewal and negotiation stage, and how each supplier breaks these costs down and present them in different guises. Some of these costs may not be recognisable and chances are you may not have seen some of them before. When you work with GET Solutions, we provide clear and transparent costing reports from each supplier, giving you the correct information to create an informed and accurate decision on choosing your next energy contract. Furthermore, we aim to deliver you a saving with our purchasing power and exclusive relationships with over 30 energy suppliers in the market place.
In April 2015, the Government introduced the Energy Market Reform (EMR). Charges like Capacity Market (CM) and Contracts for Difference (CfD) were introduced and will create a mechanism to support the generation of low carbon electricity. An investment of £110 Billion is needed by 2020 to meet environmental targets so third party costs are forecast to continue to rise over the coming years.
To find out more about Third Party Costs and how they impact your business, please get in touch with our Corporate Team on Tel. 0800 888 6020 or email firstname.lastname@example.org