An energy buying basket is where businesses group together to collectively purchase their energy. This means that you’d be able to secure a more competitive price by taking advantage of bigger buying power.
But, you might be wondering, why would you join together with other unrelated businesses to purchase your energy?
Take a look at our three reasons to join an energy buying basket.
Reason #1: Drive down the cost of your energy
By grouping together collective consumption, we have increased buying power for our clients. 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. The Power Direct Ltd basket process also removes any risk because each participant’s site will be priced individually too, and individuals will be automatically opted out of the basket should the individual price be lower.
Reason #2: Speed up your procurement processes
The huge number of suppliers in the market and the variety of contracts available can make searching the market for a new contract a significant challenge, and understanding the future costs of your energy can be difficult to compare. The buying basket process means that your broker will search the market for the best prices and present them in a standardised format, allowing for a clear comparison.
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 the business, making it easier to manage.
Reason #3: Peace of mind
Selecting a basket with terms that are fully fixed and inclusive for a period will give you budget certainty for the duration of the contract, which can be valuable in an increasingly volatile market.
The Power Direct Ltd electricity and gas baskets offer fully fixed and inclusive prices for a two-year contract and are open to businesses with a contract end date on or before 30.09.2020.
Contact our energy experts if you would like an informal discussion about how we can help you on your journey towards smarter business energy: 0333 1234 313.
About our buying basket