October Energy Contracts: Strategic Timing for Smart Procurement

October is fast approaching, and for many large energy users, it marks a critical time to review and renew energy contracts. October remains one of the most common months for contract expirations. As a result, those in charge of energy spend and procurement are already taking steps to secure favourable costs and avoid unwanted price spikes.

Allowing a contract to end without renewing can result in the account defaulting to deemed or out of contract rates which are often significantly higher and more volatile, raisings concerns. These deemed rates not only expose businesses to unnecessary cost risk but also offer limited protection against market fluctuations, potentially impacting financial forecasting and operational budgets.

In today’s evolving energy landscape, contract renewal is also an opportunity to go beyond cost. Uk Businesses are leveraging procurement as a platform for decarbonisation. From green energy sourcing to embedded services like demand side response, on-site generation, or sustainability reporting, aligning your energy contract with long-term net zero goals is increasingly vital to competitiveness and compliance.

With the October contract window drawing closer, now is the time for large energy users to turn their focus towards their energy spend and contracts.

Here at GLEG we help to take the uncertainty out of the volatile energy markets and spending. Instead we provide a bespoke outlook that serves all budgets requirements and reporting aspects. For more information contact us at hello@gleg.co.uk.