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. Customers can benefit in many ways.
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. In a buying basket, your broker will 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, contract paperwork can be taken care of 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, if participants’ sites are priced individually too, the best individual price for your site(s) can be compared to the basket price, allowing you to make a comparison and an informed decision on the best way forward for your business.
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. For more information about how you may benefit from joining a buying basket, call Power Direct Ltd: 0333 1234 313.