What do you do if your business is stuck on contract rates secured during the price peak of 2022?
Drax Blend and Extend…
If you had an energy contract fall due for renewal in the second half of 2022, you were forced to renew whilst prices were peaking. The Government’s EBRS discount muted the price pain over the winter, but now EBRS have been replaced with the less generous EBDS. Customers who secured contracts whilst prices were very high are really starting to feel the pinch.
For some lucky customers there is a silver lining! Many of our customers who had to renew in the second half of 2022 opted for EDF’s re-set contract. The EDF re-set contract gave Customers the chance to re-set prices mid-contract and take advantage of a price reduction. This innovative contract has been a real economic life saver for many customers, and EDF should be praised for offering a complex contract to smaller customers during the price crisis.
Please get in touch if you secured an EDF contract in the second half of 2022, as we can help you investigate if you qualify for a re-set contract.
The supplier Drax should also be called out for praise. On a case by case basis, they are working with customers who secured rates at peak levels, offering blend and extend solutions to reduce costs going forward. Drax are prioritising customers within the hospitality industry currently, which is excellent news for a sector that has had to deal with COVID and now the Energy Price crisis.
Please get in touch today if you secured a Drax contract during the second half of 2022. We can help you navigate and request a blend and extend solution. We cannot guarantee the outcome, as it is determined by the supplier on a case by case basis. If you are a successful candidate, the reward is well worth the effort. Our most recent customer to benefit from Drax’s blend and extend solution received a contract option that gave them £21,476 annual savings, 43% reduction in their annual spend!
Please get in touch to see if there is a blend and extend option for your business.