As a current client of Inenco in the UK, their European team approached us to help them with their energy across multiple sites in Spain, Italy, UK and France. They needed to secure a better price for their energy to bring costs down through a bespoke procurement strategy for each of their sites as well as identify any opportunities for additional savings as their energy was becoming a large part of their business costs.
Inenco first took the time to fully understand the current state of the European sites as well as the clients attitude to risk in line with their energy requirements
Inenco then presented several procurement strategies (Fixed, Click and Flex procurement products) to the customer for each European site with comparable figures based on their previous Oil index and fixed strategies
We then approached suppliers in different countries and successfully negotiated on behalf of the client the best offer possible
From this the client decided to implement our recommendations for a more dynamic approach to their energy procurement for the next two years
After implementing our recommendations, we saved the client €537,000, – from January to October 2018 with their new procurement strategy and outperformed their previous strategy, which was based on the Oil index and/or a fixed strategy. We also expect their savings to continue throughout their contract while our experts continually analyse the market to ensure the client is getting the most out of their energy.
If we compared the Electricity market prices for 2018 (Jan. 18- Oct.’18) with the prices Inenco hedged for this period, we made the client a saving of € 565,000.
We did also a comparison for the Gas market versus how Inenco hedged and the savings for the 3 sites are € 277,000.
Total savings for this period is € 842,000, – 13 %
The client also received dedicated support from our internal teams to analyse their invoices and identify any additional savings that could be made. We were able to identify that one site had overpaid on their energy tax but through our expertise we were able to help them apply for a special reduction on this tax. This action resulted in the client receiving not only the discount on the tax but also a reimbursement for the over payment for the first few months of 2018, giving them a total saving on the tax of €290,000.
“The results Inenco achieved for us have been very positive and working with Inenco was the right decision. Inenco is proactive and their communication with us is very professional. Their knowledge on the energy industry is excellent and has helped our business save on costs. We would recommend Inenco's services as one of the UK's top consultants. Reference on request.”