CNG Plays Fair to Put Customers First
18 March 2016
Fairness is a word that has come up a lot in our industry recently, but what some don’t realise is that it isn’t just about giving customers the best deal for their energy supply. It’s about making sure that consistency, clarity and control are part of the bargain too.
The energy market has always been an unpredictable place, and we’re all too aware of the confusion that this unpredictability can cause. Energy companies don’t always have the best reputation when it comes to fairness (pricing in particular springs to mind). Pricing in the energy markets is a complex business, and we’re certainly not here to excuse the delays in wholesale price reductions reflected in customer bills. But we do recognise the frustration that it can cause for a business.
With wholesale gas prices down 53% since the start of 2014, it’s never been more important for energy suppliers both big and small to start giving their customers what they deserve: a fair price, and some clarity.
So how, as an industry, can we make things fairer? Prices are often ‘locked in’ months, or even years ahead, meaning that if gas was bought at one price 18 months ago, it simply can’t reflect today’s prices because the money’s already been paid. What we can and be doing as an industry is coming up with innovative ways of helping customers get a fairer price.
Our ‘blend and extend’ initiative, helps customers achieve prices that are more representative of the commodity market, by averaging out an old price with that of today’s market. At the end of the day, utility providers must conform to the way the system works. Is this a fair system? Perhaps not. Are there ways we can seek to make it fairer? Most certainly.
CNG represents an alternative choice for businesses, and we have the power and the responsibility to shake things up with new solutions that stay in tune both with reality with our customers.
Fairness and honesty are the values that spark the very core of our business, allowing us to ‘Power Up’ our customers. Ensuring a consistent end-user price that best reflects the wholesale price of gas has always been a challenge, but the CNG offering is one that customers can have confidence in, every time.