Punch to trial energy cost-saving scheme

Punch has partnered with Online Direct, an energy sales solutions company, to trial Punch Group Energy which hopes to help publicans cut energy bills. 

By utilising its buying power, Punch believes it will be able to negotiate and secure favourable business energy rates for all of its publicans while providing no financial profit benefit for the pubco.

Weekly instalments

Through Punch Group Energy, Punch will manage and pay the energy suppliers directly and charge the publican via a weekly instalment, with licensees paying an expected discounted rate.

Licensees involved in Punch Group Energy 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.

Duncan Garrood, chief executive of Punch, said: “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.”

Trials underway

Punch Group Energy has already been utilised in all of the Punch Falcon estate which has resulted in savings in costs. Trials have now begun in five tenanted sites with more due to go live in the next month.

“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,” Garrood added.

Punch claimed the scheme is a first for the pub industry.