With the ever increasing pressure to minimize cost and accurately forecast ongoing expenses this annual service allows financial teams to stream line their processes by getting on with sales forecasts in the knowledge their costs are being constantly monitored. Energy Select’s industry knowledge will ensure that future pricing events are taken into consideration when preparing energy budgets and when coupled with Bill Checking can provide monthly variance to budget reports.
Energy Bill Reduction due to Rate Analysis and Auditing.
Typically the savings from Bill Checking result in ongoing savings that may last years. Complex and ever changing retail rate schedules, in addition to deregulation, has created various billing alternatives. Retailers are under no obligation to bill at the lowest or best rate. Energy Select are expert at analysing and uncovering the most economical rates for our clients. And, most savings due to the rate analysis and optimising tariffs require no capital investment.
Invoice Auditing uncovers billing errors that maybe endemic to the billing or may arise through a simple error by the Retailer. These errors directly affect your bottom line and often go unnoticed for years, if they are discovered at all. However, we specialize in identifying billing mistakes that would otherwise go unnoticed by both the retailer and the customer.
An Embedded Network is similar to a Customer Network, except the company responsible for the network of electrical wires has decided not to charge the consumer for electricity, instead they allow the tenant to chose their preferred Retailer. The technical difference between an embedded network and a local network is that an embedded network is connected to and receives electricity via a local network owner and not directly from the National Grid owner, Transpower. The consumers of power on an embedded network deal directly with an Electricity Retailer. The Embedded Network owner will have allocated Individual Control Points (ICPs) managed by the embedded network owner (or another agent appointed for that purpose), and the electricity traded is reconciled at the point of connection between the embedded network and the parent/local network. The embedded network owner becomes an industry participant and is subject to the rules governing electricity trading.
An Embedded Network must be implemented where load is on sold by the network owner, unless an exemption is granted by the Commerce Commission, greater than 5 GWh pa per local network. If you do on sell more than 5GWH's pa you should contact us immediately to discuss the best path forward for your business.
An increasingly important topic given the eminent introduction of a carbon market affecting electricity and natural gas. Energy efficiency comes in many forms from optimization of existing equipment to the replacement of plant with newer technologies. Energy Select can help identify inefficient sites and propose services to investigate anomalies. In addition, because Energy Select has built a repository of invoices across multiple industries and for many clients within the same industry we can compare and rank your consumption levels to see if others are achieving greater efficiencies.
- Energy Audits
- Lighting Audits
- Power Monitoring Equipment
- Subsidies for investment in energy efficient technology
Energy Select is a fee based consultancy service focusing on the management of procurement in electricity, natural gas, coal, LFO and LPG. Increasingly the purchase of energy is a specialized field and large users, and those seeking customised solutions, are utilising our services to ensure that the right product is being purchased for their requirements. Time and effort will vary between the number of sites and the complexity of the offers.
Because Energy Select has constant and broad experience in many parts of the energy industry we can provide competent independent advice to clients regarding contractual arrangements or disputes with energy, network and metering providers.
Services provided include:
- Mediation between Retailer and Consumer
- Market Status Reports
- Contract Review
- Peer and Client Review of Recommendation
If your supply arrangements do, or could have some exposure to spot prices, then they will be subject to change and will require your vigilance. In this case you may choose to arrange your energy supply by either:
- purchasing at spot price and then "hedge" the spot pricing risks with a mixture of electricity "hedging" contracts, or
- choosing a supply arrangement that gives you a fixed price for most of your supply but with a varying price for the residual.
In either case you will need to pay careful attention to risk management. What happens when the spot price rises? Do you know how much extra this could cost you? How much do you think you stand to gain by taking this risk?
Where the landlord or property manger on charges electricity to their tenants the industry refers to this as a Customer Network. A customer network means the charging of electricity and network lines used to convey that electricity by the same business entity. Energy Select recommends customer networks where the landlord does not wish to become an electricity network owner dealing with Electricity Retailers and the Governmental Regulatory body. Energy Select can structure the arrangement so as to minimise the charges faced by tenants while ensuring the landlord is not left out of pocket.
Customer Network advantages:
- Only one energy and settlement contract
- Building Owner/Line owner collects all revenue
- Internal consumption points do not need to be metered or audited
- Unmetered supplies do not need to be quantified
- Is applicable where the on selling of energy is less than 5GWh per local network