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The energy market is volatile and heavily impacted by supply, demand, weather, geo-politics and other events across the world. The swings in wholesale pricing from one week to the next can be as much as 20%, at peak in the Energy Crisis 2022 the swings were as great as near 100% in a week. What’s more, the difference between the cheapest provider and the most expensive when it comes to renewal can be as much as 150%! meaning timing your market review poorly or only getting prices from one or two suppliers including your current provider can add thousands to your annual energy cost.
You can arrange your next supply contract at any time in the12 months prior to the expiry of your existing contract – this is called the renewal window (for gas this can be as much as 18 months in advance). Some brokers will contact you at the start of this window on a spurious basis – that is with the aim to secure a further period of income for themselves, which is also why many push for long term agreements. Supplier offers are sent around 90 days due to administrative processes and often include a substantial amount of extra profit making it worthwhile to shop around. Neither period is necessarily right or wrong as it depends on the market at the time.
We track the market daily by collecting information from multiple sources about oil generation and trading, wholesale gas & power pricing, renewable generation, non-commodity costs as well as global events that could affect supply and demand. We summarise the week’s market movements in a blog that we publish every Friday which is also shared on our socials. Our aim is to help you secure your renewal at a low point in the market to reduce your energy costs so that money can be used elsewhere within your care business.
For those registered for the service, we will let you know when you’re in the renewal window so we can prepare the relevant documents such as recent invoices and a letter of authority and set up supplier tenders so you can act quickly if required.
We will keep tracking the market during this window and let you know of any low points where it could be advantageous to lock in a renewal contract.
If you’re curious about the market movements, you can keep an eye on our weekly updates. Otherwise, look out for an email with the subject “Time to take action” which will be sent when we think you should consider locking in your renewal.
The easiest way to provide information is through sharing a recent invoice. This also allows us to carry out invoice validation to ensure you’re being billed correctly and help you pursue a recovery of overpaid funds. 60% of the invoices we receive have VAT and CCL applied incorrectly.
The minimum information we will need to register you is:
Contact our business efficiencies team on 01273424904 or your supply information to BusinessEfficiency@qcaregroup.co.uk to add your business to this free service
Information provided on energy prices is subject to constant change and is influenced by numerous factors, such as supply and demand, market conditions, geopolitical events, and weather patterns. As such, any information or analysis provided on energy prices is intended for general informational purposes only and should not be relied upon as a sole source of information or as a substitute for professional advice.
While we strive to provide accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or reliability of the information provided. Any reliance on such information is at your own risk, and we shall not be held responsible for any loss or damage resulting from the use of such information.
Additionally, please be aware that energy prices can fluctuate rapidly and can be affected by unforeseen events. Therefore, any information provided on energy prices may be subject to change without notice.
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