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FEAT RE FEA ATURE


ENERG PROCUREMEN


Brexit and the energy sector -understanding the impact and risks to business


Andy Curry, energy riskm nager for com ercial energy consultants, Inspired Energy, offers som insight on the impact of Brexiit, the current market condiitions and explains how businesses shoulld look to capital se on energy procurement for the l ng-term and ways to safeguard your business


Andy Curry, energy risk manager for commercial energy consultants, Inspired Energy insig t o th im ct o


t, th curre ook to capitalise on energy rk co tio gy procurement for the long-termand wa ways t ow d safeguard your busines s


benefit by seeking expert advice now and purchasing energy in advance.”


With Brexit verymuch being a ‘volatile market’, Curry argues that advance


procurement enables businesses to budget and plan their future spending accordingly, avoiding anymaj


ajor price hikes which could


see overall business costs soar, and lead to adverse impact on activity.


“Even with the volatility of current markets, businesses can still benefit by seeking expert advice now and purchasing energy in advance, with an arrangement to suit themand their business needs. At Inspired Energy PLC we believe that a choice of suppliers is imperative for


increased competition and to always work with the fullmarket to ensure the


Figure 1:


customer receives the best price available.” With an increasing uncertainty of wha t Britain’s future holds, there are a growing number of businesses that are looking to get themost out of t energymarkets are a


complicated business heir energy. The


A


s a result of the EURe June 2016, theUKGove


announced that itwould be unpre


recedented steps of re


Referendumon 23 ov


taking the rnment


fromthe EuropeanUnion. T rem


heir choice to oving Britain


ov


overall costs as low as possible, and with the low value of the pound set to continue the prospect of inflation and inc costs to businesses is very real. Andy Curry, Energy Risk


invokeArticle 50of the Lisbon Treatywas not Manager for commercial energy taken lightly however,withmany questioning the impact itwould have on Britain’s future - not least for its energy sector.


consultants, Inspired Energy, explains: “Twelvemonths ago the energymarket


Following a landmark ruling however, the Supreme Court ruled against the UK Government’s appeal by an 8-3maj This decision has nowmeant that Britain has edged closer towards leaving the EU, withMPs overwhelmingly backing Theres a May’s Brexit plans .


ajority. A FU URE OF UNCERTARTAINTY FUTURE OF UNCERTAINTY


The country looks to be potentially heading into a future of uncertainty, while the energymarket could be at the greatest risk with any long-terminvestment decisions likely being postponed. Knowing when to purchase energy is crucial to keeping the


experienced its lowest point in nine years, foll collapse in oil. At encouraged our c


were risk averse to forw rward


purchase their energy contracts Thismeant business’ buying en at a fixed rate in advance and av any price fluctuations.


rex t,


ustomers who the time, we owing the


at the best of times, but fortunately there still remains experts who are always on hand to help.


As one of the UK’s leading energy “Wi “W With the v latility by the volatility ty of current m rkets, currentmarkets,


businesses can still benefit by seeki g ex


by seeking expert advice now and purchasing energy advance w


businesses can still benefit exp


fi


and purchasi g energy i advancewith an arrangement o sui thei


an


arrangement to suit their needs. needs..."


“Now, we have a weak pound, B i sooner than expected coal plant closures and a recovery in the price of oil –all of which have fed into price increases, in the short and longer term. Despite the volatility of currentmarkets, businesses can still


/ ENERGYMANAGEMENT ENERGYMANAGEMENT


xpert advice now gy in


s, Inspired Energy Solutions extensive range of


r t


es, designed to reduce thei r omers’ energy costs and bon emissions. These


nclude energy procurement ndmanagement,market nalysis and bureau services. he group’s serv derp


p t


bled solutions and a ing number of energy s, offer clients: bespoke rocurement strategies, and targeting solution s, ulationmanagement


w a n


services, historical and future cost recoveries, and renewable energy projojects.


Inspired Energy PLC w.inspiredenergy.co.uk


w.inspiredenergy.co.uk T: 01772 689 250


ENERG MANAGEMEN ENERGY MANAGEMENT | SPRI SPRING 201 2017 23 23


inned by technology rvices,


gy, offers some sin sse sh


ENERGY PROCUREMENT


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