Energy experts providing green lifeline to struggling companies with £100m funding

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An energy expert has secured access to a £100m funding pot which could help cash-strapped businesses stop their bills from going through the roof.

While domestic price hikes have been well documented over recent months, thousands of businesses are struggling to stay afloat with many high-energy users seeing their annual bills rocket by as much as 1,000 per cent.

But thanks to an innovative scheme set up by Seaham-based experts The Energy Service Centre (TESC), commercial customers are now seeing their outgoings drop significantly after being encouraged to go down the renewable energy route. 

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Chief Executive Officer Craig Storey, who set up TESC in May 2019 after gaining 10 years of experience within the utilities sector, is working with customers across the UK with an agreement that sees businesses effectively rent their roof space to install solar panels, and in return get their energy at a lower rate from the solar rather than the utility suppliers.

Craig said: “While many businesses are still trying to recover from the pandemic there are at least 400,000 firms across the UK according to a report from the Department for Business Energy and Industrial Strategy that haven’t reopened since the first lockdown, and are unlikely to do so because of the energy crisis.

“We had a customer with large premises who rang us for advice after his gas renewal rate went from £80,000 up to £1.1m over a year. Rises like that just aren’t sustainable.

“But by going down the renewable route with solar panels, our customers are now making significant savings which are not only helping their cashflows but also helping to reduce carbon emissions at a time when there is a huge focus on Net Zero.

“It’s a win-win for everyone.”

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Chief Executive Officer Craig StoreyChief Executive Officer Craig Storey
Chief Executive Officer Craig Storey

Explaining how the scheme works, Craig added: “Under a Power Purchase agreement with a third party, TESC is a preferred partner which enables us to use a £100m funding pot to meet the costs associated with the scheme.

“Customers lease their roof space to TESC and in return the customer then pays for most of their energy - if not all - from the Solar PV, meaning their bills could come down from as high as 95p per kilowatt to just 12p.

“Any additional energy that the solar generates, TESC export back into the National Grid. It’s a fantastic way to lower energy bills without any upfront capital costs.”

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Craig runs TESC from a headquarters at Spectrum Business Park, Seaham and has a team of Business Development Managers covering the whole of the UK who would welcome conversations with firms who feel they could take advantage of the scheme.

He added: “Most companies will not be aware of the Power Purchase Agreements that are available, and we would be more than happy to speak to any business that are either struggling, or just want lower energy bills and to become more energy independent.

“We work with small business owners, to real estate companies and large international manufacturing sites and the feedback we have been getting is great.

For more information about the scheme, call the TESC team on 0191 563 4091 or email [email protected]

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