Senco Energy is pleased to announce our relationship with the UK’s newest B2B energy supplier, Hudson Energy.
Hudson Energy, the UK arm of US natural gas supplier, Just Energy, have recently entered the commercial market, with the view of challenging the oligopolistic stranglehold of the ‘Big Six’ energy suppliers.
Hudson Energy is available to UK business customers and is solely available through selected energy brokers & consultants. Hudson Energy keeps overheads to a very minimum, allowing savings to be passed on to the clients through reduced expenditure, backed by exceptional customer service.
We here at Senco Energy look forward to working with Hudson Energy, continuing to reducing the energy costs of SME and mid-market clients across various industries.
In recent months, much has been said with regards to energy companies sales tactics and practices in the domestic sector. However, there has been little mainstream media focus on the commercial sector, often with the view that organisations are big and ugly enough to look after themselves.
Sadly, as many are aware this has resulted in a level of miss-selling on behalf of both energy suppliers and energy brokers/third party intermediaries (TPI’s) alike. Whilst the majority of TPI’s within the market act in a professional and trustworthy manner, unfortunately this cannot be said for all.
TPI’s play an important role in the energy procurement market, providing a route to market for many of the large ‘Big Six’ and smaller independent energy suppliers. With the reduced sales and operational support of many of the suppliers, TPI’s provide an invaluable service, generating genuine competition within the oligopolistic energy supply markets.
For many years the industry has been calling for Ofgem to implement and maintain a code of practice, which now appears to have taken a move in the right direction. Regulation is required to provide greater levels of transparency whilst ensuring customer satisfaction throughout the complete process. Here at Senco Energy, we strongly support Ofgem’s proposed TPI accreditation scheme and feel it can have great effects in regenerating trust within the marketplace.
Of vital importance is that SME organisations are aware of supplier practices especially roll-over procedures and the damaging effects this can have on their overall energy expenditure. A sensible energy consultancy, with relationships with key UK suppliers will take the time and care to fully understand an organisations requirements, communication key messages from day 1 in a transparent and effective manner.
Despite the proposed regulations not yet coming into effect. Here at Senco Energy we have developed and strictly adhere to our own Energy Code of Practice. Should you have any questions or queries regarding our CoP of the wider scheme proposed by Ofgem, please do not hesitate to contact us directly.
With gas and electricity commonly being the second highest out-going cost for many organisations across the UK, it is important to understand what direction energy costs are going in the foreseeable future. The heavy fluctuations on the wholesale market are mirrored in the final costs to customers. It is important to understand what you can do to ensure your organisations expenditure is minimised.
It is expected that the world’s population will increase a further 1.4 billion over the next 20 years. This mixed with the current economic development of many emerging markets means that the demand for the world’s resources are being stretched to levels never seen before. Much of the world’s easily accessible oil is now depleted, and despite not yet running out, the costs of exploration and harvesting has dramatically increased. This has resulted in the costs being passed on to the bill payer. A simple question of supply and demand some might say… if only it were that simple.
Last year was considered to be one of the best performing years for commodities on the open market; this year prices have continued to follow that trend. For the first time since 2008 the price of a barrel of oil has surpassed $128 . There is also a fear of a potential shortfall in nuclear power whilst the transition from the decommission of our current nuclear power plants to the new plants being developed with the French government. This inevitably all adds to the increasing volatility of energy prices.
The diversification of our energy resources has helped to reduce our dependency on fossil fuels and this will aid the long term sustainability of our energy supplies. Renewable investment continues to grow with other slightly more controversial methods including nuclear power and fracking providing much heated debate.
In the UK, Ofgem has recently committed to reducing confusion and mis-selling within the marketplace. Historically Ofgem’s focus has been protecting domestic consumers, but they are now taking a positive interest in both supplier and third part intermediary (TPI) practices. Whilst it is still the view that business are big and ugly enough to deal with matters themselves, it is Ofgem’s belief that the market place should adhere to tighter regulations. Please click here to find out more (Link to TPI news article).
So what does this mean for your company’s energy bills? In essence, prices are predicted to continue too steeply rise. However, in the short term, high levels of unpredictable fluctuations will continue to dominate the market. It is therefore vitally important that you ensure your organisation procures the right energy contract, at the right time, with the right supplier.