How Schools Can Save on Energy Costs - EIC Partnership

EIC Partnership

How Schools Can Save on Energy Costs

Matthew Gray
Matthew Gray

Head of Fixed Market Analysis & Energy Solutions

Overview

An AI depiction of an English school needing cheap energy contract.

In the current economic climate, controlling operational costs is crucial for educational institutions.

Among these costs, energy expenditure stands out due to its volatility and significant impact on overall budgets.

This post outlines a strategic approach to energy procurement for schools and provides practical advice on how to save energy, thereby reducing expenses.

Understanding Energy Procurement for Schools

Energy procurement is a critical process that involves the acquisition of electricity, gas and other fuels at optimal prices.

For schools, which are under constant pressure to manage budgets effectively, securing energy at competitive rates is essential.

The challenge lies in navigating a market that is inherently unstable, with prices fluctuating due to various global factors such as economic conditions, geopolitical tensions and supply chain disruptions.

Strategies for Cost-effective Energy Procurement

The first step in energy procurement for schools is to engage in thorough market research to understand the current energy landscape.

This involves comparing rates from different suppliers, evaluating contract terms and considering the potential benefits of renewable energy sources.

By doing so, schools can identify the best procurement strategy and subsequent energy contract.

How to Save Energy in Schools

Beyond procurement, significant savings can be achieved through focused efforts to reduce energy consumption.

Here are a few key strategies to implement to make energy use more efficient in schools:

Government Support for Schools

Recognising the challenges faced by educational institutions in managing energy costs, government initiatives such as the Energy Bill Relief Scheme, which ends in April 2024, offer financial support to schools.

Additionally, grants for energy efficiency upgrades can provide schools with the necessary funds to implement cost-saving measures.

On average, it’s estimated that primary schools will receive around £16,000, while secondary schools can expect to receive about £42,000.

Furthermore, state-funded education institutions can secure grants for EV charger installation covering up to 75% of costs. Read more about this grant.

How EIC Partnership Can Help

Effective energy procurement for schools, coupled with strategic actions to save energy, can lead to significant cost reductions.

Our energy procurement solutions are designed to guide businesses and organisations including schools through unpredictable market conditions and help manage their risks.

Tailored to the specific needs of each organisation, our services aim to provide stable budgeting and cost savings.

Furthermore, we offer a variety of services that can help schools cut down energy costs significantly, from securing government grants to ensuring that utilities are being used in the most efficient way possible.

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FAQs

See a selection of our most frequently asked questions.

Which suppliers does EIC work with?

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.

What if I am already with an energy consultancy?

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.

What happens after the energy procurement step?

Our comprehensive account managed service provides our clients with peace of mind throughout the entire energy procurement process.

When you choose our fixed energy procurement service, we’ll assign an account manager to you, someone equipped with the expertise and abilities to provide a customised solution that aligns with your unique needs and requirements.

The professionals who make up our dedicated procurement team are well-versed in resolving inquiries and skilled in engaging with energy suppliers to negotiate contracts on your behalf.

When is the best time to renew my energy contract?

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.

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