BES Utilities recently became the first energy supplier to announce an electricity price cut in 2015, and this reduction comes into effect today, meaning our customers are now benefiting from a 5% reduction in their electricity charges.
BES, one of the UK’s leading independent commercial energy and telecom providers, believes their electricity market tracker product is the fairest and most transparent on the market, as prices are reviewed and, where appropriate, adjusted twice yearly (in April and October). The price its customers pay is based on a regular review of its five key costs:
- Wholesale energy: the costs incurred by BES in sourcing and purchasing the wholesale energy it needs to supply its customers.
- Environmental (or “green”) costs and levies: costs BES collects on behalf of the Government.
- Distribution (DUoS): the charges levied by the distribution companies to transport electricity to homes and businesses.
- Transmission (TUoS): the charges levied by National Grid to operate and maintain the UK electricity network.
- Metering: the costs incurred to read and maintain your metering equipment.
The BES Commercial Electricity market tracker tariff works in much the same way as a tracker mortgage, passing on changes in BES’ costs to its customers. Of course, this means that prices can also rise, or stay the same, but we’re proud to say we have only increased our electricity prices once in the last 3 years. We believe our tracker tariff is the only way to be completely fair and transparent in the crowded energy sector.
Commenting on the recent Tracker review Phil Brown, BES Utilities' Trading and Balancing Manager, said:
“Our tracker product is the best way possible to achieve the fairest price for our customers. Nothing is hidden when it comes to the tracker. We have been reviewing the component costs since 2010, and we attribute the growth of BES in the electricity supply market in part at least to the popularity of our Market Tracker.
"Our electricity prices have remained frozen since April 2013 and today we have cut them by 5%. We’re very proud to be one of the very few electricity suppliers to be so open and transparent in terms of our pricing.
"Our Managing Director met recently with the Chancellor, George Osborne, and other senior politicians have also been keen to learn more about our tracker product."