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Submission: On June 28 via api from IE — Scanned from DE
Effective URL: https://www.inenco.com/insight/case-studies/energy-trading-avoids-7million-in-potential-costs-for-halewood/
Submission: On June 28 via api from IE — Scanned from DE
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Request a callback * SME Energy * Corporate Energy * About Us * Careers * 08451 46 36 26 * * * * Services * Sustainability * Procurement * Fixed Procurement * Flexible Procurement * Options Energy Procurement * Bureau * Cost Assurance & Recovery * Reporting & Insights * Compliance * Streamlined Energy and Carbon Reporting (SECR) * Climate Change Agreements (CCA) * Energy and Carbon Compliance Reporting * Energy Intensive Industries (EIIs) exemption * Energy Savings Opportunity Scheme (ESOS) * ISO Standard Support * TCFD * Optimisation * Metering * MOP DC/DA Contract Management * Siteworks Project Management * Water * View all * Sectors * Education * Food & Drink * Manufacturing * NHS * Property * Retail * Services * Social Housing * Warehousing and Logistics * View all * Insight * Blog * News * Events * Case Studies * Research * View all * Portal * Contact * Search for: * * We provide support to over 500 businesses for energy and carbon management * Home > Insight > Case Studies > Strategic energy trading from Inenco helps Halewood avoid £7 million in potential costs STRATEGIC ENERGY TRADING FROM INENCO HELPS HALEWOOD AVOID £7 MILLION IN POTENTIAL COSTS HALEWOOD ARTISANAL SPIRITS ARE ONE OF THE LARGEST UK-BASED INDEPENDENT DISTILLERS AND DISTRIBUTORS OF ARTISANAL SPIRITS, EXPORTING TO 95 COUNTRIES ACROSS THE WORLD. THEY ARE THE PRODUCER OF AWARD-WINNING, LEADING SPIRIT BRANDS SUCH WHITLEY NEILL AND DEAD MAN’S FINGERS. THE INDUSTRY CHALLENGE The manufacturing industry is awash with challenges which have been heightened over the past few years. Food and drink in particular, is one of the largest manufacturing industries in the UK and one that has been facing unprecedented pressure when it comes to cost reduction. It’s reported that increased energy prices affected food and beverage businesses more than any other, with energy accounting for around 15% of the total costs for the average food and drink manufacturer. Minimising the impact of record energy price increases and finding ways to make a business more energy efficient are vital to remaining competitive, managing cost and protecting ever narrowing profit margins. PROVIDING ENERGY PRICE CERTAINTY AND PROTECTION For over 20 years Halewood have been working with Inenco across a range of services, with a particular focus on embedding a robust energy procurement and trading strategy to help effectively manage energy spend. Inenco manage over £2.5bn worth of energy spend annually for customers across the UK. This scale of procurement comes with the benefit of strong supplier relationships and specialist expertise, as Inenco offer a range of energy procurement options to suit various organisations and appetites to risk. Following a thorough risk management and scoping session Halewood opted for a capped strategy approach, which allows for the maximum commodity price to be set at the outset of trading. This provides upper price certainty but also offers the potential to take advantage of downward market movements. This strategy has provided Halewood with price certainty and protection against rising energy prices, particularly during the recent market volatility. Halewood were able to avoid potential energy spends of £7 million through the specialist trading advice of Inenco. Energy pricing is made up of both commodity costs (such as crude oil) and non-commodity costs (such as distribution and taxes). Most recently Halewood have benefited from exceptionally low electricity pricing with their secured commodity prices being zero. This is due to Inenco historically setting effective price caps and strategically trading for Halewood’s forward electricity requirements during lockdown. The market turmoil at this time forced the benchmark oil price to plummet below zero for the first time in history. REDUCING ENERGY CONSUMPTION The cheapest and greenest kilowatt hour is the one unused. Which is why in addition to an effective energy procurement strategy, Inenco have supported Halewood with their energy reduction efforts. Providing robust engineering support, establishing an energy consumption baseline, and using in-depth analysis to identify cost and carbon reduction opportunities. ENSURING ONLY WHAT IS USED, IS PAID FOR Halewood also benefit from Inenco’s Invoice Validation service, where skilled and meticulous analysts make sure that supplier billing errors, duplications, and overcharges are avoided. This helps to ensure that Halewood have consistency in their billing and gives them peace of mind that their energy invoicing is accurate. Procurement Inenco are energy procurement and energy consultancy specialists. Helping you to manage the purchasing of anything related to business energy. Read more > Sustainability Better Business Greener World Our focus is on helping our customers to deliver a sustainable future through expertise, insight and innovation. Any journey begins with understanding where you are starting from – and so our initial focus is on establishing an organisation’s current carbon footprint and related environmental sustainability metrics. Our team of experts can […] Read more > Bureau Inenco’s bureau service is dedicated to identifying cost saving opportunities for our multi-site clients. Our consultants have over 50 years’ experience. Read more > * 08451 46 36 26 * Email us * Request a callback SITE LINKS * Services * Sectors * Insight * Contact Us KEEP INFORMED Sign up here * * * * © Inenco 2024 * Terms of Business * Terms of Website Use * Privacy Policy * Cookie Policy * Gender Pay Gap Report * Environmental, Social & Governance Policy * Modern Slavery Act Statement 2024 Inenco Group Ltd, Registered Office: Ribble House, Ballam Road, Lytham, Lancashire, FY8 4TS. Registered Company Number: 02435678 * Business Energy * Corporate & Industrial Energy * About Us * Careers * Services * Sustainability * Procurement * Bureau * Compliance * Optimisation * Metering * Water * View all * Sectors * Education * Food & Drink * Manufacturing * NHS * Property * Retail * Services * Social Housing * Warehousing and Logistics * View all * Insight * Blog * News * Events * Case Studies * Research * View all * Portal * Contact PRIVACY PREFERENCE CENTER We use necessary (essential) cookies to make our site work. We’d also like to set optional cookies to help make your experience of our website better. We won’t set optional cookies unless you enable them. Using this tool will set a cookie on your device to remember your preferences. More information Allow All MANAGE COOKIE PREFERENCES ESSENTIAL Always Active Necessary cookies enable core functionality such as security, network management, and accessibility. 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