Surface World May 2020 Surface World May 2020 | Page 37

BUSINESS ENERGY If you signed a new 2-year energy contract in 2019, your energy supplier purchases the power for the March 2020 period in advance. They would have done this at the market rate in 2019 (higher than todays price). A lot of hat energy is no longer being consumed by businesses due to the current commercial climate. The supplier needs to offload/re-allocate the cost of the energy. The problem is they can only re-sell the commodity in the current market and due to low prices the supplier may look to enforce clauses whereby the end user pays a penalty fee for not consuming the energy they were initially contracted to use. 2. Discuss payment issues and terms with your supplier as soon as possible During these uncertain times it would be prudent to discuss with your supplier any payment issues. If you would like to investigate any payment plan options then Barrie Jacobs would be happy to assist where possible. In addition if you do not have a SMART meter it would be best to provide regular meter readings to your supplier. If your supplier doesn’t receive reads then they will calculate your future bills based on estimates. With the current situation across the country business energy consumption will fall and therefore you want this to be reflected in your bills. 3. Renew your electricity and gas contracts If your energy contracts are due to end in 2020 you will need to run through the usual renewal process. LSI can assist by offering a free-of-charge health check of your current energy contracts and will take the strain in regards to finding your business the best prices moving forwards. As you can see from the market graphs, energy prices have fallen dramatically – making it a good time to lock in your next contract. This process will assist with budgeting moving forward when hopefully the business arena becomes more stable again. LSI are able to assist with all matters relating to your commercial energy expenditure, so please feel free to contact Barrie Jacobs to discuss the matter in more detail. LSI services include; Energy Procurement Siteworks and Metering Invoice Validation Legislation and Compliance Energy Management and Sustainability Water Bill Analysis For further information please contact Barrie Jacobs Telephone: [phone] Email: [email protected] Visit: www.lsienergy.com ISO 9001 FM 00382 twitter: @surfaceworldmag