Allmould Plastics is a manufacturing business in the Central West that produces custom plastic parts for a range of sectors. Electricity is a major input to the business and the company reached out to Energin (formerly known as Leading Edge Energy) to help manage costs.
The situation
Allmould had signed an electricity contract with Origin Energy when electricity prices were at all-time highs. The contract tied them to expensive rates while in the market prices began to fall steeply. With 18 months left on the contract, Allmould needed a way out.
What we did
At Energin (formerly known as Leading Edge Energy) we monitor electricity markets closely and know all the tricks of the trade. Our energy expert, Ewen Beard, recognised that markets are at all-time lows and now is the perfect time to negotiate a longer contract. Retailers want to keep customers so extending contracts is a useful bargaining chip to take into a renegotiation. By extending Allmould Plastics’ contract to the end of 2024 (an extra 3 years) Ewen was able to secure an immediate rate reduction from Origin to the tune of 23%! Even better, Allmould now have a low rate contract that will carry them through an expected supply squeeze in 2022 and 2023 when several large generators retire.
How much could you save?
Wholesale electricity prices are at lows that haven’t been seen since 2016. Now is the perfect time to lock in longer contracts and build energy security for your business. Get in touch and we’ll show you how.
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