LATEST MARKET UPDATE: Following a spate of panic-buying yesterday (12th January), gas and power prices have opened down in early trading this morning. Spot prices remain historically high today, but indications are that European traders’ anxieties following a spike in demand in the Asian markets may have been excessive.

What is the COVID-19 Support Fund?

 

The COVID-19 Support Fund is a unique product that allows your business to unlock vital capital to help support your business through the COVID-19 pandemic. The fund was created to help provide support to businesses at a time of great difficulty. The COVID Support Fund gives businesses access to interest-free funding through the form of a rebate on your energy bill. The money can be spent on anything that your businesses needs to navigate the uncertain times ahead. Whether that is paying employees, buying PPE equipment so your staff can remain safe at work or paying suppliers. This fund is to help your business survive and then grow once the pandemic is over.

Covid support resized new

Why did we develop it?

We are driven to help our customers grow their businesses. Traditionally this has been through designing and implementing the best energy strategies, however as the global pandemic hit, we knew we had to play our part in helping businesses survive.

With supporting businesses through the pandemic at the forefront of our minds, we have adapted our industry-leading product, the Revolving Green Fund (RGF), to create the COVID Support Fund. RGF was designed to support businesses looking to invest in energy reduction projects where CAPEX is unavailable. The COVID Support Fund works in the same way and will release an interest-free cash rebate to your business. We know how important this could be for businesses. For some, it could be the difference between staying open or closing permanently.

covid support resized new 2

How does the COVID Support Fund work?

Identify

 

1. Unlocking an interest-free cash rebate

Purchasing energy is a necessity rather than an investment in growth, after all the cheapest unit of energy is the one you don’t use! We understand that and it is why we want to help you unlock the potential of your energy spend.

With your permission, we will review your current energy usage and see if there is the potential to create a cash fund for you to invest in your business. By using our strong relationship with energy suppliers, we may be able to unlock vital funds in the form of an upfront, interest-free cash rebate that will be transferred straight to your business.

2. Creating the best strategy for you

Our energy consultants will not only review your current energy usage, they will also complete a full review of your energy strategy to see if it can be optimised. We may be able to help with things such as your capacity charges and your transportation costs. By doing this, as well as creating a fund to invest in your business, we may well be able to deliver a reduction in energy usage and therefore spend.

3. Ongoing business support

Utility Team will stand by you every step of the way, we are here to help you survive the pandemic and then grow your business. Our team of account managers will be on hand to ensure you are fully supported, whether that is helping with the validation of your bills or liaising with suppliers.

The COVID Support Fund can typically generate a fund of between £10,000 to £250,000 based upon your energy consumption.

The COVID Support Fund has been designed to allow you to invest in what your business needs most. Some examples of what businesses have used it for are:

  • Pay employees wages
  • Purchase PPE supplies to ensure the safety of staff
  • Invest in technology and equipment to help with the continuation of business
  • Protect capital expenditure

 

The COVID Support Fund can typically generate a fund of between £10,000 to £250,000 based upon your energy consumption.

Covid support 2 resized

Scope

We will work with you to understand what you want to achieve with the COVID Support Fund. Whether that is a cash injection for the business, investment in PPE equipment for your staff or paying employees. Once we have identified the aims, we will scope out the amount of funding you require to achieve them.

4 energy tips for your business
off 12-1

Identify

We will review your current energy strategy and ascertain your current consumption and spend. We will complete an assessment of your situation and identify the level of funding that can be built into your energy tariff. We will then determine the best energy supplier and contract for you through a rigorous tender process.

Secure

Once we have identified the best contract for you, we will lock it in with the interest free rebate built in. The following month we will invoice the supplier. The fund will then be released by the supplier to us. This can take up to 45 days.

off 15
Deliver

Deliver

We will release the funds to you within 5 working days, allowing you to allocate the money to the areas of your business that needs it the most.

Ongoing Support

Throughout the contract period we will work with you to review your energy strategy and identify ways to further enhance it.

Acc Support & Aftercare Team

Find out how you can access the COVID Support Fund today!

Our team of energy consultants are available to help you. Complete the form and a member of our team will call you back within 24 hours.