Posted by copeenergy

Energy Price Cap Update

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It has been a very long time since my last far reaching email. But with energy prices remaining steady for many months, there is not much point in me emailing you to tell you nothing has changed!
 
There now is change! Over the past couple of days Cornwall Insight has unveiled its final forecast for the January to March 2024 price cap . They are projecting that we will see the domestic price cap increasing in January, the first increase in 12 months (the official cap announcement by Ofgem is scheduled this week). I thought it right to explain what this means to you guys.
 
It is important to note that domestic and business energy both buy from the international wholesale energy market. However, when the energy is sold to us, business and domestic are very different. The two main differences, for the purpose of this article at least, is firstly, domestic energy has a price cap and business energy does not and secondly the domestic price cap can only be changed every three months, next time will of course be January. Thereafter it will not be changed again until April 2024. Business energy prices however can and do change daily. Eon Next, for example, release a daily price at around 09:30 that is removed at 15:00, others, like BG Lite remove prices at 12:00 Friday and come back online, Monday morning. This means that business energy is more sensitive to change. Although the rise and fall of the price cap is different from business energy when forecasting what we expect to happen, the domestic price can sometimes be a good indicator of the future.
 
Now, I invite you to consider that if the projections are correct, logically thinking that must mean that the incremental changes we can expect to see in business energy ….will be increases. I have seen evidence of this, the last few price changes have all been small, but definite increases. 
 
My advice is to use this knowledge to your advantage. The writing is now on the wall, increases are coming. If your contracts are ending between now and May 24 there really is no sense in waiting it out anymore.

Posted by copeenergy

Positive movement in the energy market 

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Hi All,

It is positive news!

I haven’t been able to report on many positive things in the energy market the last few emails. 

Summer is here, wholesale prices are down and the offers being made are at the lowest point in twelve months. Not to mislead anyone from the off – the prices being offered now are 28p to 32p per kwh on electricity and 7p to 10p on gas. If you are finishing a three year contract that ends this year you are looking at roughly double your current rate on electricity and threefold on your gas. That said if we consider the 50p to 95p per kwh it was August to December last year, we are in a much better place.

With many people I spoke with last year the only comment I could make as they signed one year contracts at say, 68p per kwh, was ‘hopefully I can half you bill next year’ the time to do that is now. We can as hoped half peoples bills this year. Welcome news, I’m sure you will agree.

A concern that I have and I would have everyone consider is this – the government help stopped in March of this year and those people that were cornered into signing a one year deal at the high point of last year still have months left on those rates with little to no government support. I’m sure some of you reading know this problem all too well. This means that over the next few months quite a number of companies will not be able to pay the excessive rates they are on. As more and more business call their suppliers to ask for respite in some form, I believe this will have a negative effect on new contract prices.

We are at the high 20ps or low 30ps – A price anyone would have taken last year, is it time for you to check in with what can be done for your next contract? Remember you can look at any contracts ending in the next 12 months.

protect your business
Posted by copeenergy

PROTECTING YOUR BUSINESS IN THE ECONOMIC CHALLENGES OF THE YEARS TO COME

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As we head into the 6th week of the country, no worldly shutdown, I would like to offer my best wishes to whom this reaches. I hope that you, your staff and indeed your family are safe and well, both in health and in business.

Unfortunately, it is not the case for far too many people and organisations.

I am writing to you inform you of who I am, why I am still in operation and what that may mean for you in the challenging years to come. The corona threat has brought many challenges to us all, professionally, economically, and personally. My intention is to provide a solution that can make a real impact to your business over the coming challenging years. Those of us in business must look to the longer-term economic effects and make plans to thrive after this situation has medically passed.

WHO AM I – My name is James Smith, I am the manager of Cope Energy.

Energy costs are as low as 2016.

2016 to 2020 has seen a very high increase in energy and will likely return to that shortly after the release of lockdown.

WHY I AM STILL IN OPERATION – Energy contracts will still end. Companies will need all the help we can to survive and thrive over the next few years.

Suppliers are almost completely uncontactable at this time, as they’re running on skeleton staff.

To have my clients return to work to a huge out of contract bill waiting in the letter box just is not fair in these circumstances.

There is also an opportunity for you to protect your future business. There are many reasons that the energy market is seeing such large reductions – the lowering of the interest rates, the drop in the price of oil and the simple supply and demand basics of commerce, there is a lot of electricity and gas that has been purchased by suppliers, and no one is using it. Surplus supply means lower costs. If you secured a contract in 2016 and do a further three years on this current price book, you will be looking at 7 years of frozen energy rates.

We are seeing energy companies shutting their doors to new customers during this time of loss for them. Myself and my team can help secure you the options available to you before a renewal offer is your only offer. 

WHAT THIS MEANS TO YOU – I would like to begin my inviting you to consider your yearly energy bill cost. If the reduction for yourself is say 10%, what will this mean to your business over the coming years? Another member of staff saved? More stock? Whatever it maybe every penny counts.

We professionally tighten the taps of money leaving your bank account. What if the savings are 20%, or more? I am sorry to speak so frankly but these a very serious times and my career is to make a real impact to the success of my clients.

My service may not make or break your business, but then again in these times, they might just be the difference.

If your contract is ending imminently and you need our assistance, please contact me directly:

Direct Dial: 01564 33 27 19

James Smith | Business Development Manager

Posted by copeenergy

A Guide To Understanding Business Energy Utility Bills

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Energy bills certainly don’t make for compelling reading, but if you want to understand what those confusing numbers mean for your business, getting a handle on the terms involved is important.

Breaking down your bill

No two invoices are the same, and it is likely that each energy supplier will have a different layout and often use different terminology on the bills they issue.

There are two key parts on your business energy bill that you can expect to see. The billing breakdown (usually on page 1) summarises your account balance and recent charges. It shows exactly what, and when, you need to pay. The second section (usually on page 2), the billing charges, breaks down the elements that form the total bill.

The most important aspects of your energy bill are:

  1. Unit rate
  2. Standing charge
  3. Contract End Date

There are, however, other costs to.

What you see on your business energy bill

MPAN or MRPN – Your Meter Point Administration Number (MPAN) number for electricity, and your Meter Point Reference Number (MPRN) number for gas. These numbers are the unique numbers that identify the meter at your premises.

Unit Rate – The rate you pay for each kilowatt hour (kWh) of electricity or gas you use.

Standing Charge – You will pay this each and every day, regardless of how much energy you use.

Contract End Date – It is now mandatory that suppliers show your contract end date on your bill. This is the date you are free to move away from your existing supplier and your current fixed price period ends. Business energy is completely different to domestic energy, you cannot switch your business energy supplier mid-term.

Type of read – This will tell you whether your bill is based on an actual read or an estimate. To ensure accurate billing ensure you submit a regular meter read to your energy supplier.

Climate Change Levy (CCL) – Climate Change Levy or CCL, is a tax added by the government, for every unit (kWh) of non-renewable energy your business uses.If your business uses less than an average of 33 kWh of electricity a day (12,045 kWh a year) or 145 kWh of gas a day(52,925 kWh a year), you will not have to not pay CCL. This also applies if you have a domestic or residential element to your business i.e care homes or B&B’s.

VAT – Typically 20% VAT is charged on your business energy bill. If your business uses less than an average of 33 kWh of electricity a day (12,045 kWh a year) or 145 kWh of gas a day(52,925 kWh a year),you will only need to pay 5%. This also applies if you have a domestic or residential element to your business.

Here is a handy snapshot of a British Gas Lite Electricity Bill:

Posted by copeenergy

Coronavirus (Covid-19) help and advice for SME business customers

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Covid-19 is sadly affecting everybody, including our nation of SME business owners. We understand that many businesses right now are in financial difficulty and for some the cost of energy is huge.

How we’re supporting our business customers

We understand that energy can be confusing at the best of times.

For our existing customers please reach out to us, we may be able to attempt an arrangement on your behalf. If you have had to close one or more of your sites, please make us aware. We will inform your energy supplier in the reduction of consumption. Please remember the importance of keeping the direct debit live.

For any new customers, we can still help. All we require is a letter of authority allowing us to act on your behalf. We can then seek to attempt a payment arrangement for you. This service is completely free.

Finally if your contracts are due to expire soon, please do not let them roll into out of contract rates/deemed rates, they are extortionate. If you have received a renewal letter from your existing supplier do not accept it, search around first. Energy is similar to car, pet, home insurance etc. the renewal is not always the most competitive on the market.

We can search the entire market for you (again completely free of charge) and discuss the best options available depending on your current circumstances.  The oil market is at a low. Take this opportunity to make savings for your business at a time when it’s needed the most.

How is your energy bill calculated?

If your premises are closed and equipment has been shut down due to Coronavirus you should see a reduction in your bills. Energy is charged in pence per kilowatt hour (kWh). The less kWh you use the less pence you pay.

You will also have a standing charge on your bill. These are fixed amounts charged by your supplier for being connected to the gas and electricity network. They don’t relate to how much energy you use. Those with low standing charge options will benefit right now.

If you are not consuming electricity or gas, you will get a minimal or Standing charge only bill.

Some businesses may also notice a CCL (Climate Change Levy) charge on monthly/quarterly bills. You can find more information about CCL at https://www.gov.uk/green-taxes-and-reliefs/climate-change-levy.

What should I do if I’m having problems paying my energy bills because of coronavirus?

Like us all, energy suppliers are facing difficult times too. Some suppliers are willing to help with a range of potential options including payment holidays.

We must advise not to cancel your direct debit before speaking to your supplier. Is it encouraged to keep open lines of communication and a show of willingness to work with your supplier to achieve the best outcome.

Below is a comprehensive list of the relevant contact points at each individual supplier:

CNG (Contract Natural Gas Ltd)

Email Address: info@cngltd.co.uk
Contact Telephone Number: 01423 502554

Opus Energy

Email Address: early.arrears@opusenergy.com
Telephone Number: 01604 797301
Department: Customer Collections, Lines open 08:30am – 05:30pm

SSE

Please follow the link to find SSE’s most recent updates and advice – www.ssebusinessenergy.co.uk/news-and-views/coronavirus.​

Haven Power

Email Address: contactteam@havenpower.com
Telephone Number: 01473 855786
Department: Customer Operations

British Gas

Please follow the link to find British Gas’s most recent updates and advice – https://www.britishgas.co.uk/business/help-and-support/billing-and-payments/financial-difficulty?int=c19helpbannerFD

Additional Advice:

Advise customers NOT to cancel Direct Debits – Hopefully all of this will be over in a few months and we can get back to business as usual without contracts/credit being affected.

Submit regular meter reads – Bills are created from actual reads if we have them, so if a site stops consuming, their variable direct debit will reflect this e.g. If they aren’t consuming, they get minimal or SC only bills. 
Customers can submit meter reads via their online account: https://www.britishgas.co.uk/business/your-account/login. 
Customers should adhere to government social distancing advice when obtaining reads.

Further help and support can be found at https://www.britishgas.co.uk/business/help-and-support?int=c19bannerhelp including ways to pay for customers who may already be having financial difficulties.

British Gas Lite

Webchat function remains in place to support customers needs

Ecotricity

Email Address: businesscredit@ecotricity.co.uk
Telephone Number: 01453 790255
Department: Business Credit

EDF

Telephone Number: 0333 200 5103
Department: Business Customer Services, Lines open 08:00am-06:00pm

Gazprom

Email Address: enquiries@gazprom-energy.com
Telephone Number: 01618 373795
Department: Customer Services

Npower SME

Telephone Number: 0800 073 3000
Department: Debt Team

Npower Business Solutions (I & C)

Email Address: BirchDebtSolutions@innogy.com
Telephone Number: 0845 166 3634
Department: Debt Support Team

Corona Energy

Telephone Number: 0800 804 8589
Department: Customer Services

DYCE Energy

Email Address: enquire@dyce-energy.co.uk
Telephone Number: 01709 357315

Avanti Gas

Email Address: energyenquiries@avantigas.com
Telephone Number: 0808 208 0000
Department: Customer Services Team

Crown Gas & Power

Email Address: hello@crowngas.co.uk
Telephone Number: 01617 627744
Department: Customer Services Team

Smartest Energy

Email Address: customerservices@smartestenergy.com
Telephone Number: 01473 234150
Department: Customer Services

Scottish Power

Telephone Number: 0800 027 0072
Department: Debt Team

Eon

Please follow the link to find Eon’s advice to customers – https://www.eonenergy.com/coronavirus-update.html

ENGIE

Please follow the link to find ENGIE’s advice to customers – https://home.engie.co.uk/help-guides/billing-payments/payment-difficulties/

Total Gas & Power

Email Address: gp.redhill.customercare@totalgp.com
Department: Customer Services

Dual Energy

Email Address: customer.services@dual-energy.co.uk
Telephone Number: 0845 521 4292
Department: Customer Service

Where can I find more information for businesses affected by coronavirus?

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

Above all stay safe, there is always a light at the end of the tunnel, and you will get through this.

Cope Energy
0333 210 0460
info@copeenergy.co.uk

Posted by copeenergy

Covid-19

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In light of recent developments in the spread of the COVID-19 virus, we wanted let you know we’re still open for business. It must be that our main focus is on our own health and the health of our loved ones.

That said, there are definite concerns of business owners as to what the future holds. We would like to inform you of a silver lining to this situation – driven by the interest rates and oil wholesale market plummeting – Energy is at a very surprising low.

All of us are on hand (even the two office dogs) to assist businesses save money where they can, and where we can help is your business energy contracts.

This is not a sales pitch, we want to see our nations small business thrive again! It is our passion to help. If we can save you £x amount on your energy bills we are sure that during this worrying time the money can be spent better elsewhere.

We’re all in this together – Let’s help each other where we can.

Cope Energy

How much is business energy?
Posted by copeenergy

How much is business energy?

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The Greatest trick in the energy world – Do you really know how much to pay for business energy?

After working in the energy industry for 6 years the following is to me, the biggest marketing trick of any Industry I have ever known. We all buy energy, some of us at home and some have the responsibility to organise the business energy contracts. That’s a lot of people, and yet it seems we have been convinced to abandon our usual purchasing common sense. I’ll explain…

How much am I paying for my business energy?

In any walk of life, the wise buyer will break down how much they are being charged for something by asking ‘How much am I being charged for ‘one’ of that something’

If you can’t answer the question, how much is a reasonable price for 1 unit of electricity or gas then you, then like most of us have also been drawn into this impressive marketing trick.

If your local shop was to try and charge you £5 for a loaf of bread, would you pay it? What would your response be if asked, ‘What should it be worth then?’ Could you give an answer?

If you were offered a contract for electricity at 25p per unit, would you think that was reasonable?

Add to that, if you again went to buy bread and the shop keeper said ‘Give me £20 and I’ll let you know if that’s enough to cover it over the next few months’ Would you do that? I imagine the answer would be no.

Then how has the energy industry convinced us not to ask, ‘How much for one unit of your product, please?’

How do the energy companies know how much my annual bill will be?

Have you ever had a quote for energy with the supplier saying – we can do it for £927.68 per year when your renewal is £1,052.68. How on earth do they know how long you may or may not leave the lights or computers on?. How on earth can they tell you, to the pence, how much they will charge you for the coming year?!

The answer is – they don’t!. The true question anyone should be asking is when purchasing energy is – how much are they charging you for ‘one’ KWH. If your offer is 15.5p per KWH and your renewal is 16.2p per KWH. The cheaper one reveals itself quite quickly.  Then you can truly compare the offer’s.

If this advice seems to resonate and point out a simple truth then perhaps the advice and guidance of a Cope Energy consultant may be what you need.

To make more sense of the nonsense – get in touch on either ? james@copeenergy.co.uk or ☎️ 01564332719. Alternatively to get a quote visit our Get A Quote form.

Written by: James Smith – Senior Business Development Manager