July 2024 Newsletter from Nationwide Energy
Welcome to the July edition of the Nationwide Energy Consultants newsletter! As your trusted energy advisor, we are committed to keeping you informed about the latest trends, tips, and news in the energy industry.
A Message From Our Operations Director, Gerry O’Hara
“July has been another really busy month for the Nationwide Energy team. While we would hope that energy is much less of an issue for hospitality businesses, it appears that we are faced with a different set of supplier-related challenges. Most obviously a continuous lowering of customer service standards. Suppliers are also vigorously focusing on debt – through greater scrutiny of changes of tenancy (CoT’s), more aggressively chasing debt, switching meters to pay-as-you-go or off, and a variety of additional charges to customer accounts.
Our sales team have been helping new and existing customers either when they have taken on a new business or at their contract renewal. Some customers have delayed deciding on renewal hoping that costs will return to the levels seen in February & March. However, commodity costs have remained above that throughout the warmer months. As we move toward the colder months, it is a concern that while gas reserves are at historically high levels, any interruptions to supplies either within Europe or globally will push prices higher. Consequently, we would urge customers to decide on any outstanding contracts before the end of August.
Our contracts team are finding that suppliers are slower to process CoT’s. Several suppliers are treating more CoTs as high risk and requesting additional information, delaying the change. When contracts are being applied the live date is up to 6 weeks away, rather than the usual 7 – 14 days. The customer’s costs are higher due to a longer period on deemed rates.
Our billing and metering team are also seeing a continuing increase in the number of customer challenges including disconnections, meters being converted to pay-as-you-go by suppliers and overall an aggressive approach to customer debt by suppliers. We’ve recently had great success with cases where suppliers have sought to issue catch-up bills covering more than 12 months, one of which was for over £50,000. We have got these demands withdrawn by enforcing with the suppliers that they can only back-bill a customer for 12 months maximum.
On the supplier front, 2 of the most recognisable names BES and Opus are rebranding. BES is changing it’s name to Ruby Energy. Opus has been acquired by EDF and customers will be migrated to EDF in the coming months. Lets hope that these changes will lead to higher levels of customer service.”
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This month, we are sharing a message from our Senior Energy Consultant, Mark.
“It’s important to be aware of recent changes to terms and conditions by some suppliers, which are crucial to understand before committing to a contract.
New Fees for Delayed Activation:
- A supplier recently changed their terms and are now charging tenants a fee if they fail to go live after agreement is in place. This delay can sometimes be beyond the tenant’s control, often due to the previous supplier taking too long to action a change of tenancy.
Quarterly Review of Non-Commodity Costs:
- Another supplier has revised their terms to review non-commodity costs on bills every three months. These costs constitute approximately 30% of your bill, meaning your charges can increase, resulting in your tariff not being fully fixed.
While unit prices may seem attractive, it’s essential to understand the terms fully to ensure you are getting the best deal for your business.
At Nationwide Energy Consultants, our priority is to ensure tenants have all the necessary information to make informed decisions. We offer a comprehensive consultation service, providing you with the correct information to choose the right supplier for your business.
Choosing the lowest unit price with the wrong supplier might end up costing you more in the long run.
If you would like to discuss a current renewal or need advice on a recent business acquisition, please feel free to get in touch with us.”
“Great advice to suit our specific needs.
We have just switched our utility suppliers to show cost savings with a fixed rate term we are very happy with.
The background work put in by Nationwide Energy, their knowledge of the market and their assistance made this change seamless.
They have made me realise that changing utility suppliers is not the daunting task I was worrying about.
Also having the confidence that we have their continued support through the length of our contract is an added bonus.”
Mark Borland
Hurry Bros Ltd
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