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Procurement

What is flexible purchasing?

A flexible energy contract allows you to spread energy purchasing through the life of the contract. This means that as the market fluctuates, you can take advantage of lowering commodity prices.

When choosing a flexible solution, organisations need to develop an effective buying and risk management strategy to remove a large proportion of the risk associated with a volatile and changing market. Without a dependable strategy, making purchases at the wrong time can prove very costly for organisations. Because energy suppliers are bound by trading floor regulations, they can only assist on a limited basis. We advise organisations not to tackle flexible energy contracts unassisted. As recommended by OFGEM, the majority of organisations partner with an energy specialist, such as Northern Gas and Power, who can advise and develop the right strategy for a flexible approach.

Why buy flexibly?

A flexible solution will give you greater control over your energy budget, by giving you the opportunity to purchase the commodity element at a time that’s right for you. A flexible solution allows organisations to take advantage of downward market prices, while giving them the flexibility to make purchases over the 250 available trading days, rather than on a single day as associated with the fixed option, effectively spreading the risk of energy buying.

How can Northern Gas and Power help?

At Northern Gas and Power we understand the complexities associated with managing these types of products. We can advise and develop effective strategies for your business and implement a procurement policy that clearly defines your method for purchasing, and how you can save money, whilst minimising the risk associated with not buying a fixed price contract.