Working with a specialist on your energy portfolio management offers many advantages, says Arjan Dosanjh at Monarch Partnership
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To cut costs and inefficient administration, it is important to rid yourself of inaccurate energy and water asset data, outdated consumption profiles, erroneous invoices and ill-timed purchases.
Local authorities need help to avoid poor buying decisions. Complex markets generate a lot of information that can be used by suppliers to confuse non-specialist buyers. Experienced consultants can translate market signals.
It is important to develop a risk management strategy and bespoke trading strategy suited to an organisation’s needs, budget limitations and appetite for risk.
To avoid problems, use consultants with a track record backed up by evidence and testimonials. It is important to demand transparent pricing, visibility of the tendering process and fees, controlled risk management with contingency plans, and 24/7 online reporting.
Timing is everything owing to the volatility of electricity and gas markets. A good consultant will constantly monitor market and regulatory factors that affect prices.
Social landlords should demand bespoke customer service, with continuous performance monitoring and progress reporting from organisations they work with. There must also be clearly defined key performance indicators and service level agreement levels.
All costs related to realised contract prices and those of the consultancy should be fully transparent and regularly provided throughout the process.
Request access to as many suppliers as possible. Demand a free-of-charge Official Journal of the European Union compliant framework with standardised procedures and high-level purchasing volumes to swing negotiations in your favour.
“Social landlords should demand bespoke service.”
There are benefits to purchasing in real time. We monitor markets and prices daily, giving customers two daily market reports and 24/7 online market insights. It is essential to capture the best time to renew contracts, even ahead of time.
It is better to use an experienced consultancy that provides a holistic solution as opposed to those that offer just procurement and bill validation. We believe in providing interlinking energy and water services that complement each other, supported by in-depth online and offline reporting for budgeting and consumption monitoring.
Make sure you partner with an organisation that has a thorough knowledge of the markets and a clear understanding of the customer’s need for budget certainty, substantial cost savings and energy efficiency.
Social landlords need support in good governance and transparency. A skilled consultancy contributes to the administrative performance and the delivery of services and programmes. It can help to increase the performance of landlords’ administration, as well as lessen misunderstandings.
Holistic solutions give landlords more value from their utilities data and assets. Optimised solutions will be reactive to changes in the customer’s requirements and market conditions.
The most efficient way to buy is by leveraging the combined buying power of the public sector by using free-purchasing frameworks. When landlords use the volume of a framework, they can secure the best possible prices and service from the suppliers.
By utilising the power of smart asset management, efficient cost management and intelligent procurement, you can spend less and achieve more.
Arjan Dosanjh, commercial director, Monarch Partnership