Energy Update
Market update
An unseasonably warm final quarter of 2023 was followed by a milder than normal first couple of months of 2024. This meant that energy demand, especially for heating, was much lower than average as households and non-domestic users were able to turn down the thermostat and reduce energy use. This falling demand sent wholesale energy markets plunging in January and February with Europe ending the quarter with record levels of gas still in storage. Despite this, markets remain volatile as the supply side remains uncertain. March saw a slight rebound in wholesale rates as lower prices encouraged speculative traders and escalating Middle East tensions led to fears that vital LNG cargoes could be delayed due to conflict in the region.
Gas prices on the ESPO framework are falling from April reflecting the movements in wholesale markets and we expect Electricity prices for ESPO customers to also reduce in October. It is too early to say if the energy crisis is over as rates are still highly volatile and remain above average prior to 2022. The ESPO Energy team will continue to monitor market conditions and adapt trades to ensure that we are able to effectively manage our customers’ exposure to energy markets.
Staff Changes
We are pleased to advise that Gillian Howett has recently joined the Energy team as a Contract Support Officer. Gillian will replace Kim Davie, who has been appointed as Bill Validation Manager.
Jamie Taylor has taken a new role as Customer Relationship Advisor and interviews are currently taking place for a second replacement Contract Support Officer.
You can reach us at our usual contact details, energy@espo.org Gillian will be working from here with the support of Kate Maher and the wider Energy team.
If you need to speak to TotalEnergies directly, a reminder of their contact details can be found below:
Gas- MKT ESPO GP
e: gp.redhill.espo@totalenergies.com
t: 0173 727 5715
Power- MKT ESPO ELECTRICITY GP
e: gp.redhill.espoelectricity@totalenergies.com
t: 0173 727 5652
Major Ratacode Update
In the event of a shortage of supply, the Distribution Network Operators (DNOs) have a list of supplies to ensure some buildings are prioritised to keep receiving energy.
The DNOs reviewed the codes at the end of 2023, so you might have noticed you got a new letter early in 2024 telling you about your new code.
You do not need to do anything; this is purely for information purposes only. Before last year, the codes hadn’t been reviewed in a very long time.
New Energy Framework
The new Consultancy for Decarbonisation/Net Zero Strategies framework (500) has gone live.
With over 40 suppliers and a breadth of services to offer for any project no matter the size or complexity, this framework is perfect in encouraging your organisation to plan for more sustainable solutions.
If you would like to find out more, please contact place@espo.org
Project 434
The industry has decided that all non half hourly (NHH) unmetered supply (UMS) must be removed and settled as half hourly (HH) by March 2025.
ESPO and TotalEnergies recently collaborated on a webinar for anyone likely to be affected by this change. TotalEnergies are currently waiting for their slot to come through from the industry, so we know when we can start to apply for the upgrade and combining of meters.
You should be using April - July to review your UMS supply portfolio and to decide how best to combine and upgrade your meters. Whilst the deadline is March 2025, we are aiming to have this project complete by December 2024.
If you feel you need any further help or support with these changes, please contact us.
Automatic Meter Reader (AMR)
It’s a busy time in the industry!
You will have recently received communication from TotalEnergies to advise that the wider NHH market will be dissolved in the next couple of years, with the industry slowly working towards HH market wide settlement for all meter point administration numbers (MPANS).
With this in mind, now is a great opportunity to get AMR or smart meter fittings across your portfolio. AMR projects can be considered for any customer who has several meters in one area. We’ll need a site contact for each meter, or a dedicated person who can give access to all of the properties, but we can send one engineer to fit all of your AMRs over a specific period, for example one week.
If you’re interested in exploring a project, kindly inform us and we’ll be happy to send you a brief form to connect you with a contact who can facilitate access for a smart metering engineer.
Electricity Renewal
A big thank you to those customers who have already renewed their electricity contracts with ESPO energy for the 2024 – 2028 period.
It has been an extremely difficult period for customers with more questions and greater visibility of these contracts within organisations than ever before and we really appreciate that you have chosen to continue with a trusted partner.
For those customers who have not yet responded to the renewal notice, we would urge you to contact Rowena Reid at r.reid@espo.org to discuss the options. Even if you have decided not to renew with ESPO, it is crucial that you let our team know so that we can ensure the smooth transfer of your meters in October.
Complaints procedure
It is really important to us that you are pleased with the service you have received. If there is something you are not happy with, we would like the opportunity to put this right for you.
The first point of escalation is the servicing team leader at Total:
Jorge Sepulveda
e: jorge.sepulveda@totalenergies.com
t: 0173 785 9460
Gas Price Change Flex Customers
The new pricing period is here: from Monday 1 April gas prices changed for the next 12 month supply period. You should have received your price notification details via email which included the prices for each gas site.
If you have not received this yet, please contact our Energy team at energy@espo.org and the team will be happy to assist. You will see the new prices on your April bill which will be issued in May. It is always worth checking this bill to ensure the new prices have been applied.
Please note those with the bill validation service do not need to check as the team at ESPO will do this for you and liaise with Total if there are any discrepancies.
If you still do not feel your query or complaint has been dealt with sufficiently or within a reasonable time scale, please contact us:
e: energy@espo.org
t: 0330 403 5242