FirstPort has sealed an electrifying deal for residents living in its managed properties by negotiating a contract for the communal areas’ power supply that is 19.8% lower than domestic tariffs.
Following a competitive tender process, EDF Energy has been awarded the contract, which covers all communal areas in FirstPort managed properties and will see prices fixed until September 2016.
The energy market has been subject to significant price increases in recent years due to a number of external factors including production caps and supply disruptions, weather forecasting and the weakening US dollar. However FirstPort’s commercial status and buying power has resulted in a price rise of only 5.25% from last year, which is around half the price rise of the rest of the commodity market.
Julian Sheppard, Head of Procurement at FirstPort, said:
“We have worked in a transparent, fair and intelligent way in order to strike the best deal for our customers. I am delighted that we have been able to keep communal costs down to a minimum for our residents and, once again, show the value of having FirstPort as a managing agent.”
A spokesperson for EDF Energy, said:
“EDF Energy are delighted to have renewed the FirstPort Group portfolio for a further 12 months from 1st October 2015. The competitive tender process provided EDF Energy the opportunity to once again demonstrate value for money to FirstPort and their residents and extend our long standing relationship.”
 Taking into account both increases of 2.47% for power and c.24% (average) for non-energy costs, we can calculate that the price of power has increased by c.11% since January 2015 across the market.