FREQUENTLY ASKED QUESTIONS
Explore the most common queries we receive from valued clients
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If you’re already working with an energy consultancy, it’s a good idea to start exploring your options well in advance, preferably 18 to 24 months before your current supply contract expires.
It’s essential to distinguish between your energy supply contract and your energy consultancy agreement.
You have the flexibility to switch your energy consultancy while keeping your current energy supplier intact.
The timing for transitioning to a new energy contract is flexible; you aren’t bound by a fixed schedule or renewal date.
Given the ongoing high volatility in the global energy market, it’s increasingly crucial to look beyond traditional renewal dates when contemplating a new contract.
With our in-house energy traders, energy analysts and data scientists, we are able to significantly reduce the risk of flexible energy procurement, successfully delivering the flexible energy procurement service to hundreds of our clients across the UK of varying sizes and diverse sectors.
There is no one-strategy-fits-all.
The perfect trading strategy for your business and organisation can be formulated via our expert consultation.
Factors such as your specific goals and current market data can be used to build an individualised strategy, to your specific needs.
No, it won’t take much of your time.
With a flexible procurement strategy, your input is needed initially to create a tailored trading strategy.
After that, EIC takes care of the fully managed trading in line with the agreed strategy.
Market intelligence and trading data are available on demand, and you’ll have a dedicated account manager for support.
Quarterly meetings are recommended to discuss market conditions and trading performance for optimal delivery.
To create a budget that accommodates a flexible procurement approach, it is best to consider implementing a budget protection strategy that aligns with your financial year reporting.
This involves harmonising trading strategies and budgets with your financial year, enhancing budget management for improved, long-term cost control without sacrificing flexibility.
In order to effectively protect your flexible procurement budget, it is important to tailor the budget to align with your unique business strategy and goals, clearly communicate financial plans, goals and allocation strategies to relevant stakeholders and enhance control by breaking down the budget into granular details, organised by site and month.
By 2025, approximately 67% of your overall costs will be non-commodity related. However, it’s crucial to consider your broader energy strategy and adopt a more adaptable approach when evaluating trading performance.
Even though the commodity aspect of your costs is a smaller part of your overall spending now, it’s the part we can impact the most through active trading.
We have access to supplier trading desks and the ability to sell back any energy we’ve purchased on your behalf, offering flexibility.
It’s also worth considering varying the size of tradeable clips to maximise trading flexibility.
While there are minimum clip sizes to adhere to, this approach allows for multiple purchases instead of buying all the required energy at once, providing you with more flexibility and enhancing trading performance.
EIC stands out from other energy consultancies because we’re completely independent.
This independence allows us to offer supply options from a wide range of energy suppliers, all of whom are unrelated.
Our energy advice is unbiased, giving you the freedom to make informed decisions for your business.
We have a proven track record of skilfully negotiating cost-effective contracts, ensuring you consistently get the best energy prices when you partner with us.
Our all-inclusive account management service ensures that our clients have peace of mind throughout the entire energy procurement process.
When you opt for any of our energy procurement services, we’ll assign a dedicated account manager to you.
This person is equipped with the knowledge and skills to create a tailored solution that matches your specific needs.
Our dedicated procurement team, comprised of skilled professionals, is proficient in addressing inquiries and adept at negotiating contracts with energy suppliers on your behalf.
EIC stands out as the top energy consulting firm serving businesses and organisations across the UK.
What sets us apart from other energy consultancies is our steadfast commitment to tailoring our services to precisely meet the unique needs of our clients.
Here are some key points about us:
- With a nearly 50-year legacy, we have been industry leaders.
- We efficiently manage a diverse portfolio with over 700 client accounts nationwide.
- Annually, we oversee energy contracts valued at over £1.3 billion.
- Our skilled team processes and validates an impressive 3.5 million invoices each year.
- We proudly operate one of the UK’s most successful Dynamic Purchasing System (DPS) frameworks.
- Our extensive network includes more than 200 dedicated employees.
- We provide a wide range of sustainability and net-zero solutions to address your evolving needs.
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