How Edwards Vacuum Technology Saved €41,722 by Moving to a Fixed-Price Electricity Contract

Case Study Overview

Edwards Vacuum Technology is a global leader in the development of vacuum and abatement systems, with operations in almost 30 countries. Its flagship Service Technology Centre in Blanchardstown, Dublin, consumes more than 1.1 million kWh of electricity annually.

The company was purchasing electricity through a monthly rolling contract linked to wholesale market prices and wanted to review whether a fixed-price contract could reduce costs while providing greater certainty over its energy budget.

Utilityfair reviewed 12 months of electricity consumption and billing data, assessed the benefits of remaining on a wholesale tracker compared with fixing prices, and ran a competitive tender across all suppliers to obtain bespoke pricing for the site.

Following the tender, Edwards Vacuum Technology moved to a new 12-month fixed-price electricity contract, reducing annual electricity costs by €41,722 while providing greater budget certainty for the year ahead.

Key highlights: €41,722 annual electricity savings, a new 12-month fixed-price contract and 100% certified renewable electricity secured following a competitive market tender.

The Challenge: Managing Electricity Costs and Wholesale Market Risk

Edwards Vacuum Technology's Blanchardstown facility consumes 1,168,798 kWh of electricity annually, with an annual electricity spend of €296,205. At this level of consumption, relatively small movements in electricity unit rates can have a significant impact on annual operating costs.

The company was purchasing electricity through a monthly rolling contract linked to wholesale market prices. While this allowed Edwards Vacuum Technology to benefit when wholesale prices fell, it also meant electricity costs could increase when the market moved higher, making future expenditure more difficult to predict.

Management wanted to assess whether continuing to track wholesale electricity prices remained the most suitable approach or whether market conditions presented an opportunity to secure fixed pricing for the year ahead.

The company also required 100% certified renewable electricity, meaning this needed to be considered alongside price and contract structure when comparing supplier offers.

How Edwards Vacuum Technology Worked with Utilityfair to Secure a Competitive Electricity Contract

Utilityfair reviewed 12 months of electricity consumption and billing data for Edwards Vacuum Technology's Blanchardstown facility, analysing its usage profile, existing tracker rates and annual electricity costs.

We then assessed the available procurement options, comparing the potential benefits of continuing to track wholesale electricity prices with securing a fixed-price contract. Utilityfair monitored market conditions to identify an appropriate time to approach suppliers and obtain bespoke pricing for the site.

A competitive tender was then conducted across all suppliers, with each offer assessed on price, contract structure and the availability of 100% certified renewable electricity. We presented the tender results to Edwards Vacuum Technology's management team, explaining the differences between the available options and the expected cost of each contract.

After the preferred option was selected, Utilityfair negotiated the supplier terms and managed the contracting process. Edwards Vacuum Technology secured a new 12-month fixed-price contract with 100% certified renewable electricity, providing an annual saving of €41,722 compared with its previous tracker pricing.

Results: €41,722 Annual Electricity Savings

• Total Savings: Edwards Vacuum Technology will save €41,722 annually compared with its previous tracker pricing after securing a new 12-month electricity contract.
• Procurement Strategy: The company moved from a monthly rolling contract linked to wholesale electricity prices to a 12-month fixed-price contract following a competitive tender across all suppliers.
• Budget Certainty: Fixing the electricity price reduced the company's exposure to movements in wholesale electricity markets and provided greater certainty over electricity costs for the year ahead.
• 100% Certified Renewable Electricity: The new contract provides 100% certified renewable electricity, allowing Edwards Vacuum Technology to meet its renewable electricity requirements while also reducing annual energy costs.

Are You Looking for a Better Energy Deal?

Call 01 547 0999 or click below to request a free energy review. We will assess your current energy contracts, identify potential savings opportunities, and advise on the most suitable procurement options for your business. If you are happy to proceed, we will arrange the new contracts and manage the entire switching process, ensuring a seamless transition with no disruption to your operations. Utilityfair helps businesses reduce energy costs through competitive procurement.