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A better deal for communal energy supply

 

 

We are always looking at ways to get better value for money from the electricity and gas companies who supply your building’s communal areas. To get the most competitive prices, we have looked to enter into long-term contracts of three to five years.

To get the best deal for you we needed to ask for dispensation from the normal consultation under Section 20 of the Landlord and Tenant Act 1985.  This is because the normal consultation process is too slow to enable us to access the best rates for you.

This doesn’t affect the gas and electricity suppliers you use for your own home.

We wrote to households who could benefit from this change.

In August 2018, the First Tier Tribunal granted dispensation with the requirement to consult lessees about major works. The full decision is provided below.

How has this change affected energy bills?

We promised to provide customers with information about how locking in electricity and gas rates saves money on our total communal utility costs across all our estates.

For electricity:

At the point when we locked in our total electricity costs per year (as of 2019) were: £529,906.90.

By locking in with Opus for three years, our projected electricity costs are:

In year 1: £520,855.11, saving £9,051.79.
In year 2: £515,481.82, saving £14,425.08.
In year 3: £518,668.20, saving £11,238.70.

That is a total saving over three years of £33,716.10 (based on consumption data from previous year).

For gas:

At the point when we locked in our total gas costs per year (as of 2019) were: £196,946.19.

By locking in with Gazprom for three years, our projected gas costs are:

In year 1: £149,842.98, saving £47,103.21.
In year 2: £152,618.97, saving £44,327.22.
In year 3: £155,362.88, saving £41,583.31.

That is a total saving over three years of £124,749.93 (based on consumption data from previous year).

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