We are delighted to announce the launch of our basket purchasing scheme; aimed at saving our lower energy usage customers money, this procurement method uses the power of volume to reduce energy costs.
What Is Basket Procurement?
Basket procurement is a type of group buying, where a collection of customers with a lower energy usage can take part in ‘flexible procurement’ and take advantage of sudden drops in the markets by pooling their energy use volume together.
How Does It Work?
Fixed contracts usually have large mark-ups on energy to ensure the supplier is not out of pocket if prices rise. In contrast, flexible contract customers have sight of the direct energy cost and any additional costs can be fixed or passed through at your discretion.
The energy is bought throughout the contract period, meaning you don’t have to ‘put all your eggs in one basket’ for unit rates at the very start – DB Group will buy and sell in the market for you, so if prices go down your rates go down.
Basket purchasing gives lower usage customers the chance to access all the benefits of a flexible contract otherwise unavailable to them, by pooling their volume.
Would Basket Purchasing Work For Me?
If your energy usage is less than 8GW per annum, you are unlikely to qualify for a flexible contract. Joining a basket, to pool your total energy with other low energy usage customers, allows you to enter into a flexible contract, which gives you access to a better rate through our trading screens, less extra charges and can even drive the cost of wholesale prices.
What Are The Risks?
Baskets and flexible contracts allow you to buy your energy in the market when it is cheaper than when you could have locked in a fixed-contracts. If market prices do go up you, this procurement method lets you relax knowing you’ve already bought your energy at a low rate or look to sell it back to the market and save even more money. You choose your own start and end date in line with our baskets and will always only pay for your own usage – never anyone else’s in your basket.
Don’t forget you have DB Group’s Energy Trading & Risk Management team with over 16 years of market experience working on your behalf.
Find Out More
As always, we continuously monitor the energy markets, giving our customers peace of mind that they are always receiving the best possible rate for their energy use. As a basket member, customers receive regular trade performance reports illustrating their performance against the market and daily reports, presenting a clear picture of what is happening in the energy market and where bills sit against that.
To make it simple, we have set up specific baskets for both gas and power in the following sectors:
- Retail & Commercial
- Food Industry
To find out if you qualify for basket purchasing, and to learn more about how it works, give one of our team a call today on 0330 058 3405 or email us on firstname.lastname@example.org.