EDF gushes over five-year-fixed business bill

EDF Energy said it can offer businesses a fixed price for energy for five years. The supplier announced yesterday a £50 million contract with South Staffordshire Water to fix the […]

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By Vicky Ellis

EDF Energy said it can offer businesses a fixed price for energy for five years.

The supplier announced yesterday a £50 million contract with South Staffordshire Water to fix the “majority” of its energy costs.

The contract was signed in February 2014 for a supply starting in 2015. It runs for five years until 2020 when the water firm’s next investment cycle finishes.

Keith Marshall for South Staffordshire Water said: “Electricity accounts for almost 20% of our annual costs, second only to salaries.

“This contract means [we] can better focus attention on energy reduction and carbon management rather than trying to beat the wholesale market.”

Sid Cox, Director of the Business division at EDF Energy said: “We know that businesses are looking for ways to control costs and reduce risk. Businesses wanting to get long-term price certainty should follow South Staffordshire Water’s lead.

“Partnership with our sister company EDF Trading made this unique purchasing approach possible and I believe this industry first would also benefit other businesses that want longer-term price certainty.”

He claimed the firm can offer prices out as far as 2024.