Energy costs: how much did they go up

[eteb3]

Small charity is looking at possibly purchasing a building.

Accounts for the current tenant charity shows their energy costs going up 300% between YE2023 and YE2024.

Do folks think this was just the background price rises, or does it suggest something else going on?

Thanks.

 

[Wayne Mitchell]

Could mean a few things;

1) They were previously on a long term deal struck before the energy crisis and then contracted again in 2024 in a higher market - this is not something they’ve done wrong the market has just changed.

2) They could have signed a new agreement with a rogue broker or supplier at an inflated cost.

3) They may have just used more energy - if the organisation grew they could have used more energy.

4) There is an outside chance of criminality e.g. another building has spurred off their supply illegally. That is rare though.

This is a big movement though. More information would help diagnose.

 

[WaveJumper]

Other than the above already mentioned I would have thought more importantly what quotes for supply have you had and how do the compare

 

[Mark T Jones]

@NickGrogan is the man to ask

I'm only indirectly involved, but I did hear of increases up to 500%, but it seems to have softened significantly

 

[NickGrogan]

Big increases 23 to 24 are slightly unusual, unless as has been mentioned they were coming out of a long term contract taken before prices when mad, it which case it could be pretty reasonable.

Could also be higher usage, change of profile, etc.

But,

None of that actually matters to you.

You won't be taking over the contract they're on, so whatever rates they are on, good or bad, are irrelevant.

What you need to know is the full mpan and your estimated usage. Then you can get your own quotes and have an idea of what you'll be paying.

Happy to help FOC as you're a charity.

 

[eteb3]

What you need to know is the full mpan and your estimated usage. Then you can get your own quotes and have an idea of what you'll be paying.

Happy to help FOC as you're a charity.

That’s immensely appreciated will DM later. Thank you