Case Study: NHS Walsall

New partner selection pays off

Partnering with Trident has enabled NHS Walsall to really capitalise on the market data and insights the team provide. Trident’s support and their consistent daily reporting has empowered NHS Walsall to develop a more strategic approach to energy management and gain a deeper understanding of the ever-changing energy market.

The market volatility of recent years necessitated NHS Walsall’s ability to adapt their energy management strategy. In 2021, NHS Walsall faced a critical decision of whether to lock in prices for the upcoming winter. After careful consideration, the Trust chose to hedge 50% of the energy volume, while utilising shorter-term markets to hedge the remaining 50% exposure. For the Winter period the UK government introduced the Energy Bill Relief Scheme (EBRS) where discounts were applied to energy usage initially between 1 October 2022 and 31 March 2023 for eligible non-domestic consumers in Great Britain and Northern Ireland.

For all non-domestic energy users in Great Britain and Northern Ireland this government supported price was set at:

• electricity - £211 per megawatt hour (MWh) / 21.1p per kilowatt hour (KWh)
• gas - £75 per MWh / 7.5p per KWh

The energy procurement strategy adopted by the Trust led to a saving of over £1m against the government support level. The Trust effectively uses the information provided by Trident to establish a comprehensive long-term budgeting process. This is communicated to their finance department regularly during meetings where they analyse market data and explore available options. This collaborative effort ensures that the budget is aligned with the trust's strategic goals, allowing them to react appropriately to market shifts without too much exposure to risk.