Great service and concept. Already signed up. However how often do you expect wholesale market to vary in a manner that will impact member? Are you buying a certain volume ahead.
I used to be in this sector but dipped out recently!
Best answer by Toby
Glad you like the concept. Our mantra is you pay what we pay; all our energy has zero markup. Which means we can have an honest, impartial conversation with our members about energy efficiency.
Buying energy in the wholesale market is far from straightforward. We use BP’s trading team to help us. We buy our energy in advance and we expect to do this every three months; it helps us smooth the price we pass to our members.
We’re committed to providing fresh, clean energy at great value so we’ll make buying decisions based on whether energy rates are rising or falling. We aim to balance price stability with the ability to pass on lower rates quickly and effectively.
A significant proportion of the wholesale cost is made up of regulated costs, for example energy transportation and distribution. Those fixed costs help reduce the impact of any change in the underlying energy market rate.
May I ask what role you had in the sector? Great to have you onboard in the community for future discussions!