A time to reflect

Date: October 14, 2020

A time to reflect

As we have now issued our benefits statements to our members (earlier than ever), we are using the extra time to reflect on the data. To start off with, we thought we would take a look at an overview of the full portfolio and this is what we found…

The spend in the 19/20 year was down by £4.5 million. This number even includes new member spend which was offset by the reductions due to the impact of the pandemic.

Despite this drop in spend, our framework is preserved as the largest spend in the HE sector in England and Wales and the second largest National energy framework.

Overall, in the last year, we have seen the following:

• 7 new members
• 499 new meters
• £9.1 million additional spend (£12.4 million when annualised)
• 131 million kWh additional consumption (179 million kWh when annualised)
• 15 further new members have been secured and will be having their energy risk-managed by TEC with a total volume of 573 million kWh per annum (which will be reported in future years starting with 20/21).

If you would like to read more about our 19/20 benefits statements and a deeper insight into the data collected, make sure you keep a look out over the coming weeks as we will be looking at areas such as savings, consumption, impact of the pandemic, like for like comparisons on 18/19 and 19/20 and who spends what.