Business as usual during COVID-19

Please be reassured that we are making the necessary arrangements to operate our business with the minimum of disruption during these unprecedented times.

We take the health and wellbeing of our staff seriously and, therefore, following government guidance, employees are working from home following successful trials for every member of staff.

We have prepared well for this situation, and are confident that we will maintain our exceptional levels of service delivery. If you have any concerns, please contact us.

We appreciate that the situation is fast-moving and the uncertainty presented makes it hard to plan. Our teams are available to support you through this period. Whether your business is open or not, we will continue to monitor your account and contact you where we feel it necessary. We appreciate that you will have lots to think about, so we aim to make as much information as we can accessible online via our website and social media channels.

Supplier update during COVID-19

The energy suppliers remain open. However, resource is limited and phone lines are generally closed unless it’s an emergency. We continue to communicate with the suppliers via email or web chat (where possible) to resolve your queries as quickly as possible. We apologise for any delays you may experience during this time. Your Account Manager will continue to keep you updated on all open issues and expected SLAs.

Market update

Now is a very good time to be looking at your renewal prices. The commodity market is very low with Coal, Carbon, Power and Oil prices all decreasing further this morning.

Despite the delays with suppliers we have seen many clients presented with very competitive renewal rates, showing a saving compared to their current rates.

The reduced industrial demand will help with the reduction in price, so I would recommend everyone takes advantage whilst the prices are low!

We are experiencing slower response times from suppliers. However, if you’re interested in receiving a price for your renewal please do not hesitate to contact us.

You can access daily market updates on our website: https://www.powerdirectltd.com/news/category/energy-market-bulletin/

Group Buying

We are still completing our Buying Baskets as planned week commencing the 27th April for gas and 15th June for electricity. With the current market conditions we expect the rates offered to be very attractive.

Group buying is when a collective of businesses group together to purchase their energy. Businesses that combine their purchasing power with others in this way usually achieve lower prices, because suppliers are competing for the overall business of the group’s collective energy consumption. Our buying groups are suitable for any business, regardless of size and industry sector, who want to benefit from fully fixed and inclusive prices for a two-year contract. We run our buying group programme once or twice a year, and a business will usually be eligible to join if their current contract end date is within a year of the group purchase date.

For further information on Group Buying please visit our website: https://www.powerdirectltd.com/buying-group/

If you would like to join the next buying basket please contact your Account Manager as soon as possible.

Targeted Charging Review (TCR)

Ofgem’s Targeted Charging Review (TCR) will change the way electricity networks are recovered and will affect all customers with a contract end date beyond April 2021. You currently pay for these costs within your electricity contract with your suppliers.

Our Q&A details how this will affect your current contract and what we are doing to keep you as informed as possible.

Your Account Manager will provide you with further information once received from your current supplier.

If you have any questions please do not hesitate to contact us.

Water

As of 1st April 2020 if you haven’t exercised your right to switch or fix your retail rates your supplier can charge an ‘out of contract’ rate.

Power Direct Ltd has partnered with Source for Business to offer a better retail price for your water, facilitated through a buying group. Our water buying group enables participants to leverage the economies of scale that being part of a buying group offers, with a three-year fixed contract that offers budget certainty. If you would like further information please contact your us.

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