Energy procurement jargon: a glossary of terms
Are you a newcomer to procurement? The terminology often used for energy procurement can be different for SMEs compared to larger corporate businesses. This is usually due to the access to fewer resources and expertise in energy procurement than larger businesses. As a result, the language and concepts being used may be simpler when discussing energy procurement.
Nevertheless, the language and terminology relating to energy procurement can be tricky to understand. Therefore, it's important to be aware of the different terminology used so you can communicate effectively with your suppliers and stakeholders. By understanding the jargon, smaller organisations can make better decisions about their energy procurement and save money on their energy bills.
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