Punch has announced it will be trialling its own energy deal exclusively for its Publicans in what will be a first for the pub industry. The aim of the deal is to help Publicans find the very best rates for their utilities, reduce costs and run a long term business.
Energy bills remain one of the biggest expenditures for Publicans, so to support them in having the best deal, Punch has partnered with Online Direct, the UK’s leading energy sales solutions company, to trial Punch Group Energy. By utilising its buying power, Punch believes it would be able to negotiate and secure favourable business energy rates for all of its Publicans in order to minimise costs for those who run its pubs whilst providing no financial benefit for Punch.
Through Punch Group Energy, Punch will manage and pay the energy suppliers directly and re-charge the Publican via a weekly instalment, with Publicans paying for their usage at a price reflecting the group purchasing power. By being part of Punch Group Energy, it is anticipated that Publicans would also avoid ongoing out of contract rates, costly deposits and bonds and, with Punch managing all of the administration, there would be no requirement for the utility companies to credit check or request security bonds from Publicans.
Punch Group Energy has already been utilised in all of the Punch Falcon estate which has demonstrated positive cost savings. Trials have now begun in five tenanted sites with more due to go live in the next month.
Duncan Garrood, CEO of Punch, commented: “One of the questions we are asked the most by our Publicans is how they can cut their energy costs. These comprise a hugely substantial part of any pub’s expenditure and so we’re working hard to ensure we help Publicans get the lowest prices possible. This trial is all about learning and supporting our Publicans so we are starting small, with just a small number, to ensure we get things right before rolling out the scheme.”