Fixed Price Contracts
How we buy: a live auction, not a round of quotes
Most brokers ask a panel of suppliers for quotes, one at a time. Each supplier prices in isolation, the quotes come back over hours or days, and you get a snapshot from a limited set of suppliers with little sight of how the price was reached.
We use a reverse auction instead. Suppliers bid against each other in the same live session, and each new bid pushes the others to bid again. That competition erodes supplier margins and gets you the best price the market offers on the day.
The graphic below shows how this typically works for a gas or electricity renewal.
The Initial Auction Day
This auction acts as a price discovery event, providing the following benefits:
- Gives you an accurate renewal cost for your new budget
- Enables you to assess any “green” premiums by comparing the "cheapest" price against the "cheapest cleanest price"
- Enables Mindful Energy to iron out any data/portfolio discrepancies ahead of time
- Gives you time to complete any internal governance steps before signing the renewal contract
Final Auction Day
- Your signatories will have had time to prepare ahead of signing the final contracts.
- A final decision is subject to market conditions and a favourable buying environment
- We index link the market prices to ensure supplier margins remain consistent with the Initial Auction Day pricing
To see what a live tender could do for your next renewal, request a quote below.
Benefits
Budget Certainty
You know your unit rates for the whole contract, so the figure you budget is the figure you pay.
Financial Planning
With predictable energy costs, you can plan spending elsewhere in the business with confidence.
Risk Management
A fixed price shields you from sudden price spikes for the length of the contract.
Peace of Mind
We handle the tender, the paperwork and the supplier, so you can focus on running your business.
Why choose Mindful Energy?
Genuinely independent. We're not tied to any supplier. Our job is to get the right outcome for your business.
Transparent about our fees. We tell you how we're paid and exactly how much, in writing, before you commit to anything. See how our fees work.
Ongoing support. Your dedicated account manager handles contract management, bill validation and supplier queries.
An independent route if anything goes wrong. We're a member of the Energy Ombudsman's Alternative Dispute Resolution scheme.
The best results come from starting nine to twelve months before your renewal, so we can choose when to go to market.