Open electricity market: how can businesses switch electricity suppliers and reduce costs?

22/ 06/ 2023

Listen to online Stop     The launch of the renewed electricity market in 2019 radically changed the relations between the participants. Previously, electricity was sold at a pre-set tariff. Now the pricing of goods depends only on market processes. Also, non-household consumers can decide for themselves which suppliers company chose to buy electricity. On June 22, 2023, an offline event in the Energy Advice format on the topic Open electricity market was held by the EBA Southern Ukrainian office together with YASNO company. CEO of YASNO Serhii Kovalenko and the head of YASNOs Corporate Sales Department, Mykhailo Mokrenchuk, told what has changed for business as part of reform in the sphere of the energy market, namely: what to look for in the process of choosing an electricity supplier, how to switch to more favorable supply conditions, due to which it is possible to reduce consumption and costs of energy resources? Consequently, experts advised to pay attention to experience and reliability, evaluate the suppliers business activity and reputation, check the absence of default/pre-default status of the supplier in the moment of electricity suppliers choosing. Consumers should also carefully explore all price components, compare terms of delivery (terms of settlement, reasons and amount of fines, etc.), discuss individual terms of delivery if necessary. In addition, availability of online and offline services that make life easier for consumers and businesses are important. So, personal office, contact center, developed network of service centers, chatbots, electronic document management and the services of personal managers are a really significant indicator of customer service and support. Special attention should be paid to such additional services as dual fuel: electricity + gas, as well as energy-efficient solutions (energy audit, energy service projects, etc.). For example, energy-efficient solutions lead to the saving of resources at the enterprise and the support of the entire energy system of the country, reduce business costs for energy resources, reduce the cost of products, introduce modern technologies, improve working conditions and generally have a positive environmental effect. We sincerely thank our experts for practical recommendations and up-to-date information on the specified subject!

The launch of the renewed electricity market in 2019 radically changed the relations between the participants. Previously, electricity was sold at a pre-set tariff. Now the pricing of goods depends only on market processes. Also, non-household consumers can decide for themselves which suppliers company chose to buy electricity.

On June 22, 2023, an offline event in the Energy Advice format on the topic “Open electricity market” was held by the EBA Southern Ukrainian office together with YASNO company. CEO of YASNO Serhii Kovalenko and the head of YASNO’s Corporate Sales Department, Mykhailo Mokrenchuk, told what has changed for business as part of reform in the sphere of the energy market, namely: what to look for in the process of choosing an electricity supplier, how to switch to more favorable supply conditions, due to which it is possible to reduce consumption and costs of energy resources?

Consequently, experts advised to pay attention to experience and reliability, evaluate the supplier’s business activity and reputation, check the absence of default/pre-default status of the supplier in the moment of electricity suppliers choosing. Consumers should also carefully explore all price components, compare terms of delivery (terms of settlement, reasons and amount of fines, etc.), discuss individual terms of delivery if necessary. In addition, availability of online and offline services that make life easier for consumers and businesses are important. So, personal office, contact center, developed network of service centers, chatbots, electronic document management and the services of personal managers are a really significant indicator of customer service and support.

Special attention should be paid to such additional services as dual fuel: electricity + gas, as well as energy-efficient solutions (energy audit, energy service projects, etc.). For example, energy-efficient solutions lead to the saving of resources at the enterprise and the support of the entire energy system of the country, reduce business costs for energy resources, reduce the cost of products, introduce modern technologies, improve working conditions and generally have a positive environmental effect.

We sincerely thank our experts for practical recommendations and up-to-date information on the specified subject!