Improving Energy Supplier Standards
It is no breaking news that this has been a difficult year, especially for the energy sector, demonstrated by the vast number of suppliers that have had to exit the market. The substantial rise in energy prices and the constant state of volatility has brought dramatic changes in the energy industry, and suppliers, particularly, have had to adapt quickly to the changing conditions.
Without a price cap in place for commercial users of Energy, it is businesses that are feeling the greatest price impact, however, for domestic consumers of Energy, even the price cap doesn’t seem to go far enough to shield them from yet another cost of living increase. The price cap was first introduced in January 2019 but saw a 12% increase in October 2021, OFGEM usually reviews the price cap twice a year but new rules were passed after April 2022 allowing OFGEM to review this more frequently in exceptional circumstances, signalling that the worst of the Energy market’s volatility was yet to come.
Effects of price Volatility in the Energy Industry
There are visible signs of the current Energy crisis;
Reduction in small supplier community - the small supplier community gives customers access to additional options outside of what used to be referred to as ‘the big 6’, without challenger Energy brands customer choice and product Innovation suffers.
Extreme pressure for homes - There is huge societal fear for what will happen to people at home when prices increase again this Winter, particularly those who are vulnerable or already suffering from fuel poverty
Increased intervention from the regulator - OFGEM are passionate about putting further checks and balances in place to make sure that suppliers are doing what they need to for customers and to provide continuity of service but this also puts more pressure on suppliers who are already working harder to manage a constantly changing environment
Unify Energy- setting the standards for energy suppliers
As a supplier, it is easy to be completely distracted by the current price volatility as we try to manage impossible conditions to remain competitive for our customers and help them protect their businesses. However, we cannot forget the long-term objectives which will help our customers and the Industry develop on the whole. We’re talking about Energy Innovation and increasing the availability of renewables.
Unify Energy helps its customers with more than just energy; yes, we supply gas and power to the main meter but we also help people understand the changes they need to make to reach net-zero carbon, we explain how to understand your invoice and offer an end to end package to landlords which provides support to all occupiers in that building.
For us, we are doing more than trying to survive through the turbulence of the recent and impending market volatility, we are committed to long-term Innovation and customer excellence despite the disruptions at hand.
People are rarely positive about utility companies, we’re striving to be different and tackling Industry problems that have long gone overlooked, like the relationship between landlords and the occupiers that are connected to the landlords' Energy supply.
What is truly unique about Unify Energy is that we’ve been able to condense the supply chain, overseeing the installation of necessary infrastructure and its management right through to the billing of tenants' energy. This eliminates the burden on landlords and achieves a cleaner and more transparent process for Energy sourcing and management; we are the first to transform this process into multi-tenanted buildings and make it as simple as it can be.
Are you doing everything that you can to manage Energy effectively in your building? Why not contact us and see whether we can make Energy supply and optimization a more simple and effective process.
