An energy buying basket is when a collective of businesses group together to purchase their energy. The collective can be comprised of businesses of any size from any industry who want to leverage economies of scale to gain more competitive energy prices.
Power Direct Ltd has been successfully running energy buying baskets since 2017, and customers are benefitting in many ways.
Buying basket benefits:
The huge number of suppliers in the market and the variety of contracts available can make the presentation of the future costs of your energy difficult to compare.
Our basket process means we search the market for the best prices and present them in a standardised format, allowing for a clear comparison.
It can also be time consuming completing all the paperwork that goes with a new energy contract. Due to the large number of people involved in the basket purchasing, we take care of the contract paperwork on participants’ behalf, removing one more hassle.
Basket prices are usually more competitive than prices for individual sites, because they are based on the group’s collective consumption, and suppliers compete to win the business of the group’s overall consumption. However, all participants’ sites will be priced individually during the week before the basket close date, and these prices will be communicated on the close day. This means that the best individual price for your site(s) will be compared to the basket price, allowing you to make a comparison and an informed decision on the best way forward for your business. We will only place you in contracts that we believe are in your favour. Therefore, if the price isn’t advantageous on the day, we will make a recommendation of an alternative price where possible, or we’ll advise you to wait to secure your next contract.
Seamless and hassle free
Businesses that have multiple sites can include all of them within the basket purchase, meaning a single contract, single renewal date and single point of contact across your business, making it easier to manage.
Peace of mind
Prices will be fully fixed and inclusive for two years, giving budget certainty. In a volatile market with highly fluctuating prices and Brexit uncertainty, you can be confident that your energy prices will remain stable.
The Power Direct Ltd electricity and gas baskets are open now to any business with a contract end date on or before 30.09.2020.
For more information about the buying basket process, see About our buying basket. And if you would like to explore whether you could gain from the power of group buying, or for anything else to do with your energy, call one of our friendly energy experts today on 0333 1234 313.