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A tender focused on future prices for the home of Surrey Cricket Club, after twelve years with a previous broker.
The Kia Oval, home of Surrey Cricket Club and a world-famous international cricket venue, had been with its previous broker for twelve years. It was unhappy with the service, proactivity and investment in that relationship.
The stadium's energy costs were very high and had been creeping up. Oil prices were at a ten-year low at the time, and the club felt it was not seeing the benefit.
We searched the market for a solution that would lower costs and keep them low for as long as possible, focusing on future prices to find the best fit. The procurement process we ran led to a five-year fixed price for the club's gas and electricity.
The contract started in November 2016 and saved the Kia Oval over £97,000 on its energy bills across the term.
Fidelity Energy took control of our energy procurement requirements from start to finish and have provided an exemplary standard of service from the outset.
The Kia Oval is the home ground of Surrey Cricket Club and is a world-famous international Cricket venue.
They had been with their energy broker for some twelve years before coming to Fidelity Energy. Having been dissatisfied with the level of service, pro-activity and investment into the partnership of their previous broker, Fidelity Energy was their first port of call.
Due to the size and usage of the stadium, their energy costs were extremely high and had been creeping up for some time. They had become aware that, at the time, oil prices were at a 10-year low and felt that they were not receiving the benefit of that low price.
We began by scouring the market for a solution that would fit them. Most paramount was lowering energy costs and ensuring they were kept low for as long as possible. Therefore, we focused on looking at ‘future prices’ of energy so we could find the best fit.
What we were able to supply was a procurement selection process that resulted in a five-year fixed price for their energy prices.
This saved the Kia Oval over £97,000 on their energy bills across the term of the contract.
This contract started in November 2016, the same percentage saving in today’s market would be closer to the £250,000 mark. A massive chunk of costs to wipe off any company’s bottom line.
They said:
Fidelity Energy took control of our energy procurement requirements from start to finish and have provided an exemplary standard of service from the outset. We have been extremely impressed with the professional approach that Fidelity Energy have adopted during the tender process. Their forward-thinking approach throughout has not only resulted in significant savings for The Kia Oval over our new gas and electricity contracts, but has also given us the confidence that we are now paying the most competitive tariff available. I would have no hesitation in recommending Fidelity Energy as a first class ‘energy partner’ for any business interested in keeping energy related expenditure under control.
- Scott Carey, Operations Director, KIA Oval
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