Our Procurement Team:
Our Portfolio:
Our Procurement Products:
Flexible Procurement:
Due to the fluctuating nature of energy prices, LGE advocates our flexible procurement product to stay on top of market movements and effectively manage risk. LGE’s offering allows for the benefits of contract flexibility and minimising costs. LGE’s flexible procurement product is for those with a higher level of energy use and enables multiple buying decisions for an entire contract based on the market. Choosing LGE’s flexible procurement product will deliver the following benefits:
- A defensible and robust energy procurement risk management strategy.
- Price optimisation via flexible procurement.
- Expert control administration under a dedicated account manager.
- Detailed cost projections and access to expertise and vast resources of reports.
- Bureau services to identify billing errors and minimise overpayment on utility invoices.
Cooperative Procurement:
LGE’s other procurement offering is cooperative purchasing, which allows those clients who do not consume enough energy to obtain a standalone flexible procurement contract to still benefit from its features. Through this product LGE places multiple entities into a single flexible “basket” which LGE trades as one block to access flexible contract benefits. As with LGE’s flexible procurement product, the cooperative product will again deliver the following benefits:
- A defensible and robust energy procurement risk management strategy.
- Expert control administration under a dedicated account manager.
- Detailed cost projections and access to expertise and vast resources of reports.
- Bureau services to identify billing errors and minimise overpayment on utility invoices.
Procurement Products Eligibility:
Fixed vs. Flex?:
LGE’s preferred strategy is for flexible contracts as they can provide customers with better value for money in the long term through our experienced traders and innovative market intelligence which leads to strong adaptable strategies which effectively manage market movements. Opting for a flexible contract has multiple benefits:
Although LG Energy strongly advocates the use of flexible contracts, fixed-term deals can still be offered and would be procured on an exclusive basis if desired by the client.
Green Procurement Options:
To achieve the increasing importance placed on sustainability by our clients, LGE has developed multiple product offerings which can help achieve green procurement goals. These include the following options:
- Power Purchase Agreements (PPA)- PPAs offer a long-term electricity supply contract under which an end user agrees to purchase green electricity directly from the owner of generation assets, rather than directly from the energy supplier. PPAs can offer clients access to lower prices and long-term budget certainty. LGE’s PPA service includes designing and managing the process from tendering to analysis & recommendations and ongoing trading & risk management.
- ‘Time-Matching’- A product which provides power to a client through a portfolio of renewable assets which are matched with renewable generation on a half-hourly basis, with electricity then traded on the wholesale market, like a standard flexible power contract. LGE’s ‘time-matching’ offering can help decrease the risk of grid reliance and the potential for greenwashing, therefore enabling clients to ensure that their supply is of constant green origin and enact a material difference in combating climate change.
- Energy Attribute Certificates (EACs)- LG Energy can offer expertise in both the sourcing and purchasing of EACs. Click here to read about our full EAC offering.
Water Procurement:
Since the water market was deregulated in April 2017, LGE have been able to provide a complete water services package covering water procurement, bill analysis and auditing. Management of water resources is an important part of the services that LGE can offer as it is a valuable commodity and can dramatically increase overheads and tighten the margins of any organisation when not managed proactively. LGE will take all water requirements into consideration, compare all offers and then provide full and thorough recommendations. Once the contracts are live, LGE can continue to provide account management services for the water contracts to support and assist customers, alongside ongoing bill validation services and retrospective audits for any potential historic overcharges.
For more information on our procurement products speak to your account manager today or contact us at info@lgegroup.com.