True, powered by Open Energy Market (OEM), a leading provider of energy procurement services and net zero technologies, today announces the performance of its energy fund for Summer 2024.
During the latest trading season, OEM’s flagship fund demonstrated its consistent ability to outperform the market, beating market lows and achieving savings of 26.8% on electricity and 23.4% on gas, compared to the market average.
Most OEM Performance Fund members operate in energy intensive industries, such as manufacturing, food production, materials production and data centres, or manage complex energy requirements across multiple sites, including educational institutions and hospitality providers. As such, striking the optimal balance between expenditure and usage in energy procurement strategies is business critical.
Even in a period where energy bills have largely been falling, OEM’s fund members have continued to benefit from savings. This is due to OEM’s proactive and strategic procurement practices, which allow members to lock in competitive rates ahead of market trends, ensuring ongoing cost efficiencies. These savings translate into a distinct competitive advantage, enabling businesses to allocate resources more effectively and invest in other critical areas.
One notable example of the fund’s impact is Office Space in Town (OSIT), a provider of meeting rooms and event spaces for organisations of all sizes. Since joining the OEM Performance Fund a few years ago, OSIT has saved over £1,112,032 across both gas and electricity.
Nicki Fuchs, CEO, OSIT, comments, “Joining OEM’s Performance Fund has been transformative for OSIT. The cost savings we’ve achieved have enabled us to improve our offerings and continue our commitment to sustainability.”
True, powered by OEM, which unites an organisation’s real energy procurement costs and net zero strategies in one platform, offers businesses another complementary avenue for securing greater financial control and confidence when managing energy costs and carbon emissions.
Chris Maclean, CEO, True, powered by Open Energy Market, comments, “Cost remains a fundamental driver in decision-making for energy strategies. Getting this right lays strong foundations for subsequent investments into sustainability, net zero transition plans, and other business critical areas. We’re proud that our fund ensures that businesses are not only protected against energy market volatility even in a falling market, but those cost savings can also help them reinvest into sustainable practices, driving long-term growth and environmental benefits.”
For more information about True, powered by Open Energy Market, visit https://www.truezero.tech/
