npower launches first-ever flexible energy transaction platform
npower Business Solutions has this week launched the market’s first-ever online flexible energy transaction platform aimed at smaller customers. Flex: Begin is designed for businesses consuming from 2GWh a year and wanting to make the transition from a fixed-contract to transacting energy on the wholesale market.
“Customers often tell us that while they know there are many possible advantages to operating a flexible contract, they are concerned they may lack the necessary expertise or time,” explains Innovation Manager Magali Hodgson. “That’s why we’ve devised an easy to use, cost-effective self-service platform that simplifies the process.”
Flex: Begin can be used in two main ways, depending on your requirements:
- A simplified ‘multiple’ fixed-price contract for fixed customers who are seeking more flexibility. This works by offering, for example, a two-year contract that’s set up as four six-month blocks for you to transact at a time and when the price suits you. Price alerts provide protection against a rising or falling market to help you remain within your budget. For simplicity, all non-commodity costs are also fixed upfront.
- A tailored flex contract aimed at customers wanting to make the transition to flex, who want a quick, easy and more cost-effective way to manage their contract. This can be as simple – or as complex – as you want, and allows you to work to your own risk management strategy, with regular market intelligence to guide you.
“Flex: Begin can also be used by consultants on behalf of their clients,” explains Magali. “This can facilitate the more efficient and faster management of multi-client portfolios, as the consultant can transact online without having to make a call each time they have a new instruction.”
Instant online market access
Flex: Begin is secure to access and can be tailored to your individual buying or selling requirements and risk management profile. All transactions are carried out online, without the need to ever pick up the phone.
“The features are designed to support businesses to make clear, informed decisions, with live npower prices and helpful market intelligence summaries that are regularly updated,” says Magali.
Flex: Begin also provides:
- A dynamic dashboard layout with information you can tailor to your needs
- Complete visibility of both your commodity and projected non-commodity costs (for import customers only) through a budget tool that tracks both elements
- A visual display of all your energy transaction requirements in one place – so you can easily see what you have transacted (closed), what you need to transact (open) and any price alerts (warnings)
- Open and closed positions able to view against live npower prices
- Ability to set price alerts to monitor market movement to keep your cost aligned to your budget
- Option to fix non-commodity costs upfront (for import customers)
- Access to Risk Navigator, where you can see market details as well as your own private contract information
For more information, please contact us via firstname.lastname@example.org If you are already an existing customer, please get in touch with your Business Development Manager.