Video 7 February 2024

Turn green energy market risks into opportunities

We’ve all become familiar with ‘unprecedented’ times. And when it comes to the energy market, it’s the best way to describe the volatility we’ve been seeing. Even now, we’re only just starting to return to normal.

For context, the maximum price increase for energy in 17 years was around 60 units, while last September saw a staggering 400-unit price range. And navigating through this can be overwhelming.

Embracing renewable energy

Should your organisation use solar energy and other renewable sources as part of your on-site energy supply? In a word, yes. Traditional energy sources are no longer the most cost-effective option. The great news is that using on-site renewable energy, like solar power, can help balance changing energy costs.

At Mitie, we’re helping organisations create robust energy plans in response to the ongoing energy crisis. This often includes moving from fixed to flexible purchases, looking into corporate power purchase agreements (PPAs), and setting up on-site energy facilities. And by doing this, we’re helping them to meet their compliance obligations and decarbonisation targets.

Transforming risks into opportunities

By using renewable energy, organisations can transform market risks into huge opportunities. A long-term energy plan can support their environmental, social and governance (ESG) targets as well as help them deal with the changing energy market.

But what happens if organisations don’t act now? Well, they’ll just have to accept the market prices without much control over their path.

Adapting to succeed

Organisations with a robust, long-term plan that meets their needs are already thriving. We’re supporting companies to not only meet their compliance obligations but turn them into opportunities. Successful companies are looking at the bigger picture and adjusting, using new and creative ways to manage their energy supply, lower costs and make a positive environmental impact.

There’s never been a better time to embrace renewable energy and protect your organisation’s future. So, why wait? Act now, and let’s navigate these unprecedented times together.

Insights from Elliot Bermudez-Galton, Head of Energy Advisory and Risk Management at Mitie.

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