Member Article

IT firm pivots offering to launch stereotype-tackling business energy brokerage

The owner of a Yorkshire IT support firm has successfully pivoted its offering in recent months, with the launch of a digital business energy brokerage – which has already saved one national organisation £62,000 on its annual utilities bill.

Established in April 2020, Turbined is founded by Jamie Durham, who also owns and manages Leeds-headquartered tech firm, Systemwork. Based at The Tetley, the firm aims to challenge the often-unfounded and negative stereotypes which surround utilities brokers.

While consumers already pay over the odds for their energy, at corporate level the ‘risk margin’ is generally 35% over the true cost. And, although end of contract prices can rise by up to 200%, business owners often opt to renew their policy without reviewing the market – as the potential hassle is deemed to outweigh the return.

In response, Turbined seeks to simplify the industry via a simple, inclusive, and efficient approach which strives to make this often-daunting industry easy to navigate – alongside personalised guidance from another, tech-savvy, human.

It’s this transferable software knowledge that has proven central to the design and development of the recently unveiled service – which is proving particularly pertinent in the wake of the Coronavirus pandemic.

Based on algorithms similar to those used on leading comparison sites, customers share a copy of their most recent energy bill, as well as any short and long-term growth plans, and the Turbined software and staff will compare the entire energy market on their behalf, in order to identify the most suitable provider – based on the company’s needs and objectives.

Jamie Durham, founder of Turbined explained: “While the UK-wide lockdown was anything but quiet for the team at Systemwork, I wanted to make sure we used our technical knowledge to help organisations get back on their feet – and ultimately, survive. Therefore, at a time when every penny of company spend is being scrutinised, it’s shocking to see that firms are still unwittingly paying over the odds for their utilities.

“Without smart meters in place, and often unclear charges on business accounts, it can seem like a confusing space to navigate. It doesn’t help that when you look at a company energy meter, it’s impossible to know the tax and levy on top of your usages too – as it’s all based around risk within the region.”

Discussing the number of clients currently reviewing their utilities provider, Jamie added: “At present, we are working with 15 organisations that are actively looking to switch providers, some with up to 35 energy meters across their building portfolio. And, with the price of oil having dipped, energy prices are following suit – marking the perfect opportunity to review suppliers, and lock in a fixed-rate agreement.”

This was posted in Bdaily's Members' News section by Katie Mallinson .