Harman Technology are a manufacturer of high-end photographic products. Keen to maximise on cost-efficiency and stay ahead of the industry as it evolved, in 2011 Harman Technology decided to explore risk-managed energy procurement options for their facilities in Cheshire. The company had previously purchased energy through fixed price contracts, placed during the renewal window. Harman Technology were aware that this meant they were not always getting the most appropriate energy solution for their business. Harman Technology conducted extensive interviews with brokers before selecting Inenco to provide them with the energy solution they needed. The decision was based on Inenco’s impressive track record and a reassuringly strong presence within the industry.
“We have seen considerable commodity savings through using a mix of Options strategies, and with an improved ability to forecast costs, our partnership with Inenco is invaluable. The team who manage our account are fantastic, second to none.”
Harman Technology wanted to move away from fixed-price contracts but wished to stay firmly in control of their energy budget. They opted to take a low-risk approach to their energy buying. Through the Options portfolio strategy, Inenco were able to provide Harman Technology with a mix of procurement strategies which would provide a high degree of budget certainty, whilst also unlocking significant savings potential. Inenco gave Harman Technology the “best of both worlds” approach to energy buying that they were seeking by utilising a carefully balanced formula of the capped forward buying and prompt strategies. With their energy procurement split between the capped and prompt strategies, Harman Technology found that their cost certainty was maintained in the long term, but that they were also able to benefit from advantageous changes in the market as they occurred.
By utilising a mix of procurement strategies, Inenco were able to achieve savings for Harman Technology with a total value of £49,647 for power and £84,556 for gas. A total saving of over £134K against budget. Inenco’s reporting and forecasting services allow Harman Technology to remain in control of their energy budget and plan more effectively for their future projects.
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