The Inenco team were thrilled to win Energy Buying Team of the Year for the second year in a row at last month’s TELCAs. Businesses must trust in our expertise to deliver the best possible price for their energy, and winning this award against stiff competition is a glowing endorsement of the work our team does.
Inenco procure £900 million of power and gas each year on behalf of our customers, supporting them in the creation and execution of procurement strategies. We think our approach to energy risk management and the support we offer businesses is what makes us an award-winning team, and it’s an approach that we’ve continuously adapted as energy risk management evolves.
We work with businesses to create bespoke risk management strategies, taking into account their risk appetite as well as their wider energy strategy and future needs: we take a holistic approach so procurement is never considered in isolation. Increasingly that means focusing on exposure to non-commodity charges as well as commodity costs: wrapping the two strands together into one strategy from the get-go makes it easier to identify ways to mitigate rising costs or structure the contract to hit price targets, such as fixing some non-commodity elements. We’ve developed strong working relationships with suppliers too, making sure they fully understand our clients’ requirements to help create the best solution to meet their needs.
We’ve also put a lot of focus into improving transparency. We already benchmark our performance and provide businesses with a monthly report, benchmarking our performance against a forward market average, agreed budgets and year-on-year cost-neutral position, but we’re also rolling out Benefit Statements to show customers the direct cost for each service. This is tracked against cost savings and return on investment achieved on their behalf, to validate fees charged and services provided.
Businesses rely on TPIs to have a team of experts on hand to support them, and at Inenco we’re proud to have a whole host of knowledgeable energy professionals. Our trading analysts consider both Technical Analysis and Fundamental Analysis to fully assess market drivers and data analysis, giving customers a comprehensive view of price direction and access to informed market experts throughout the day. We also have non-commodity experts that produce detailed forecasts and budgets, using our own analysis as well as other market sources to produce robust scenarios for customers. Combined with our market reports, weekly market Y? Report videos, monthly non-commodity cost dashboards that detail changes to forecasts, policy briefings and online information hubs on topics like P272, we’re committed to making the complex simple and helping businesses understand what’s happening in the energy market.
Our TELCA trophy has taken pride of place on our trading desk, sitting next to last year’s award. It’s not only recognition of the hard work our team does every day; it’s also a benchmark to hold ourselves up against to make sure we’re always delivering award-winning services to our customers.