OSiT benefits as Open Energy Market’s fund outperforms the market by over 25%

Open Energy Market (OEM) a provider of energy procurement services and net zero technologies, recently announced its energy fund’s performance for the period to summer 2024.

During this trading season, OEM’s fund outperformed the market consistently, achieving savings of 26.8% on electricity and 23.4% on gas costs, compared to the market average. This was a period where energy bills were largely falling, however, OEM’s fund members were still able to benefit from both savings and pricing security.

OSiT has been working with OEM for a few years and over the course of this relationship we have saved over £1,112,032 across both gas and electricity. This is due to OEM’s procurement practices, providing a degree of immunity against fluctuating energy market trends; enabling members to lock in competitive rates and ensure ongoing cost efficiencies.

Niki Fuchs, our CEO, highlights “Joining OEM’s Performance Fund has been transformative for OSiT. The cost savings we’ve achieved have enabled us to improve our offerings and continue our commitment to sustainability”.

For us securing energy costs upfront helps us to forecast for the year ahead, which in turn helps with our budgeting and the savings we make are invested back into the business, in order to upgrade our buildings and further improve their efficiency. The fact the OEM fund invests in green, traceable, renewable energy contracts further supports our endeavours to support and protect the environment as part of our commitment to ESG.

The OEM ‘True’ platform also provides real time energy consumption tracking, allowing us to benchmark this against our forecasts, as well as highlighting potential areas of focus in the future.

As part of our partnership with Planet Mark, our OEM data is also shared to our Planet Mark dashboard, helping us to track our progress, plan improvements and transparently share key information about building performance with our clients. In 2023 we were able to use the data from the True platform to help us reduce our overall carbon footprint by 6% as part of our ongoing journey towards achieving net-zero. You can find out more about our progress by downloading our ESG report.