LATEST MARKET UPDATE: UK gas and power markets have traded lower across the curve so far this week, with a bearish outlook as Norwegian outages come to an end next month and fears of a second wave of Coronavirus has pushed prices within the wider commodities lower. Oil prices in particular continue to be pressured by the threat of a reduced demand that a second wave of Coronavirus could bring, with prices trading below $40/bbl for the first time since mid-June.
Kingspan is the global leader in high performance insulation and building envelopes, operating in over 70 countries and employing more than 14,000 people.
Kingspan manufactures a suite of complementary building envelope solutions for both the new build and refurbishment markets.
The Relationship How Did We Help Them?
Utility Team were appointed by Kingspan to take over the management of their UK & Ireland, Norway and Poland energy procurement needs. This was coupled with additional value added services and ongoing account management.
Our first order of business was to perform supply tenders across Europe, present best case scenarios and negotiate terms and conditions with winning suppliers.
Ongoing management and strategy is in place to manage flexible contracts, with other sites taking advantage of longer term fixed prices.
Additional services provided cover ongoing bill validation, historic invoice auditing, meter upgrades, online data access, billing & payment management, and assistance with meeting compliance obligations.
The Outcome What Were The Results?
Flexible purchasing and consolidation with an average 6% saving across the portfolio
Climate Change Levy (CCL) renewal for further 2 years
Access to Utility Team's online portal for real-time monitoring of data
A full roll out of gas Automatic Meter Readers (AMR)
Monthly bill validation
Multi-country procurement
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Shoezone
Utility Team helped Showzone with energy and water procurement, recommended smart meters and looked at bill validation.
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Keolis
Utility Team helped to procure energy 5% less than market average, looked at their bill validation and ensured they met legislative compliance.
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Immunocore
Utility Team helped Immunocore to benefit from a 20% reduction in energy usage which resulted in cost savings of over £1m.
