A large mill and bakery has sliced a fifth off its energy budget with a risk management strategy.

Energy broker EIC said its client began a two year electricity supply contract starting in October 2013 and is getting 23% savings against its budget.

Amy Chambers, Marketing Executive at EIC said: “Through our active Risk Management all clients have seen their prices outturn below their budgeted prices. In fact, we have been able to re-set budgets for 11 of our clients and lock in savings in excess of £9.2m.”

Another of the firm’s clients in the utilities sector is currently £6.5m below budget for a two year power contract that started in April this year.

She added: “With our expert team, best in class processes and unrivalled risk controls we’re confident that EIC clients will see further successes in the coming months.”

EIC is sponsoring Energy Live 2013 on Thursday.