Confederation of British Metalforming (CBM)’s Post

Name: See Confederation of British Metalforming (CBM)’s activity on LinkedIn
Uploaded: 2024-07-18T11:28:15.360Z
Channel: Confederation of British Metalforming (CBM)
Description: Businesses are still under immense strain as a result of horrific contracts signed back in 2022. The brokers and suppliers who agreed these contracts have a lot to answer for.... BUT... So does the business itself and that's not often talked about!

Confederation of British Metalforming (CBM) reposted this

Greenfields Energy Group Limited

277 followers

3mo

Businesses are still under immense strain as a result of horrific contracts signed back in 2022. The brokers and suppliers who agreed these contracts have a lot to answer for.... BUT... So does the business itself and that's not often talked about!

Transcript

I haven't done a short ramble in a while. But this week I felt compelled to because I was sent an energy invoice from someone who joined a webinar that I did a couple of weeks ago. And they basically said, look, can you, can you help us out with this situation? And the situation that they find themselves in is. It's just dire, it really is. And they signed a four year fully fixed contract back in 2022. And at 67 P for day rate and 62 P for a night rate, they use about 1.1 million kilowatts of electricity. So they are paying very broadly with additional costs added in about ��800,000 per annum now for their electricity. Previously they were paying about 200,000 and really, given where the market is now, they should be paying about ��250, 000 per annum very broadly. Now. The reason I wanted to flag this is, you know, there's, there's, there's plenty of talk about the energy crisis being over. And without doubt the prices are nowhere near what they were going back into 2022, in early 2023, but businesses who were. Hoodwinked into signing long term fixed contracts back then, are still absolutely feeling the pain of that now. Now this business was. A good, nice profitable business pre this but they are there's no hiding behind it. They are now fighting for their lives based solely on electricity contract that was signed now. The energy broker who did it has subsequently gone into administration. Um. But I do think and this is probably the point of the conversation of what I was trying to also raise to the to the business was that. They've also got quite a lot to answer for themselves in, you know. There's plenty of talk, particularly from certain cases according to court recently around being a sophisticated buyer. This is a fair sized business and and somebody in that business signed off a four year fully fixed contract. Without reading the T's and C's and the T's and C's. The important bit because the broker in this instance. I've seen the e-mail trail told them that there was a three month. A cancellation period, cancellation charge effective. They'd have to pay three months worth of consumption to exit the contract, which was just not the case. Now, that business should have done far more due diligence than it did in signing that contract. And this is a point that I stress all the time with people that you know, once you've put pen to paper, good, bad, ugly or indifferent. You're in it now that business is is ruing that mistake. Lesson learned for sure, but perhaps. In sharing this short story, other people might not fall foul to Always happy to talk to people if you find yourself in a similar situation, it's probably not too much you can do, but we're always happy to have a conversation and. Maybe educate if if if nothing else. Alright, enjoy this early day.

To view or add a comment, sign in

More Relevant Posts

Confederation of British Metalforming (CBM)

2,024 followers
2w
Report this post
🏆 Confederation of British Metalforming (CBM) Award Entries Now Open for the 2025 Annual Dinner & Awards! 🏆 We are excited to invite entries for the prestigious 2025 Annual Dinner & Awards, taking place at the Birmingham Council House on Thursday, 3rd April 2025. This is your chance to celebrate your accomplishments and gain well-deserved recognition! 🌟 Why Enter? Showcase your success and innovation Elevate your brand and build credibility Network with industry leaders and peers Be recognized in front of an audience of top professionals 🌟 Categories Include: Company of the Year Apprentice of the Year HSE Initiative of the Year Energy Efficiency Initiative New! - Employee Engagement Award How to Enter: Choose your category Complete the entry form Submit supporting documents Deadline for submissions: Friday 7th February Don’t miss out on this incredible opportunity to shine and be acknowledged for your hard work and achievements! For more details and to submit your entry, Melinda.jean@thecbm.co.uk. Good luck, and we look forward to receiving your entries! Stephen Morley Geraldine Bolton Louise Campbell Melinda Jean Rachael Bromley Derek Barnes Derek Bond Winners from 2024 KMF Group Ltd G-TEKT Europe Manufacturing Ltd Sertec Group #CBMawards #Metalforming #themetalformingoscars
1 Comment
Like Comment
To view or add a comment, sign in
Confederation of British Metalforming (CBM)

2,024 followers
1d
Report this post
Confederation of British Metalforming (CBM) are at Advanced Engineering this year Hall 3 Stand F191. Don't forget to register for this event less than two weeks to go! Stephen Morley Geraldine Bolton Louise Campbell Melinda Jean Derek Barnes Derek Bond Rachael Bromley
1 Comment
Like Comment
To view or add a comment, sign in
Confederation of British Metalforming (CBM)

2,024 followers
1d
Report this post
Confederation of British Metalforming (CBM) are exhibiting at the Training and Manufacturing Expo on the 4th November 9am - 12pm. Don't forget to register for the event In-Comm Training FBC Manby Bowdler LLP #expo #Training #ukmanufacturing
Like Comment
To view or add a comment, sign in
Confederation of British Metalforming (CBM)

2,024 followers
2d
Report this post
📢 Join Us for the Next Confederation of British Metalforming (CBM) – Forging and Fastener Sector Meeting! 🗓 When: Wednesday, 9th October 🕑 Time: 2:00 PM Are you in the Forging and Fastener sector? Don’t miss out on this essential meeting with our specialists Derek Barnes and Derek Bond. Our agenda includes: 🔧 Latest industry changes ⚙️ Key issues businesses are facing 🛠️ Support and solutions to help your company stay ahead Whether you're looking to stay updated or have concerns you need help with, this meeting will give you the insights and assistance you need. Register today by contacting: 📧 Melinda Jean at CBM 📩 melinda.jean@thecbm.co.uk Don’t miss this opportunity to connect and stay informed!
Like Comment
To view or add a comment, sign in
Confederation of British Metalforming (CBM)

2,024 followers
2d
Report this post
🎉 Exciting News! 🎉 We are thrilled to announce that KFactory® will be the Table Sponsor at the Confederation of British Metalforming (CBM)'s Annual Dinner & Awards 2025! 🎊 Join us on Thursday, 3rd April 2025, at the iconic Council House, Birmingham, for an evening of celebration, networking, and recognition of excellence in our industry. 💼 Why Attend? Celebrate the best in business and community Network with industry leaders Enjoy an elegant evening in a prestigious venue 🌟 Sponsorship Opportunities Still Available! 🌟 Want to boost your brand’s visibility? Other sponsorships are still up for grabs! Secure your spot today and showcase your company at one of the most prestigious events of the year. Please email Melinda Jean Melinda.jean@thecbm.co.uk 📅 Save the date, and we can’t wait to see you there! KFactory® Vlad Cazan Stephen Morley Geraldine Bolton Louise Campbell Melinda Jean Rachael Bromley
1 Comment
Like Comment
To view or add a comment, sign in
Confederation of British Metalforming (CBM)

2,024 followers
3d
Report this post
🎉 Confederation of British Metalforming (CBM) Annual Dinner & Awards – Tickets Now Available! 🎉 We are thrilled to announce that tickets for our prestigious Annual Dinner and Awards Ceremony are now available! 🎟️ Join us for an unforgettable evening of celebration, networking, and recognition, held at the iconic Birmingham Council House on Thursday, 3rd April 2025. 🌟 Event Highlights: • Glamorous awards ceremony recognizing outstanding achievements 🏆 • Delicious dinner and drinks 🍽️ • Opportunities to connect with industry leaders and peers 🤝 🌟 Special Guest Speaker: Kyran Bracken MBE We are excited to welcome Kyran Bracken, former Bristol, Saracens & England World Cup-winning Scrum Half! 🏉 Kyran is best known for being part of England's 2003 Rugby World Cup-winning side. He has also represented the British and Irish Lions and is a popular rugby pundit. Off the field, Kyran won Dancing on Ice and speaks openly about his career, mental health challenges, and what it takes to succeed at the highest level. This is a rare chance to hear from an inspiring sporting legend! 🌟 Sponsorship Opportunities Available! Shine the spotlight on your business by becoming a sponsor. With various sponsorship packages on offer, it’s the perfect opportunity to showcase your brand and gain exposure at one of the most anticipated events of the year. 💥 Don’t miss out! Secure your tickets today and explore sponsorship options by contacting Melinda Jean via email Melinda.jean@thecbm.co.uk. We look forward to celebrating with you! 🎊 Stephen Morley Geraldine Bolton Melinda Jean Louise Campbell Rachael Bromley Ben McIvor Johnathan Dudley Liam Conway Vlad Cazan Paul Whitehouse Forged Solutions Group Greenfields Energy Group Limited Crowe UK KFactory® Steel & Alloy Gonvarri Industries #AnnualDinner2025 #AwardsCeremony #NetworkingEvent #KyranBracken #Rugby #BusinessOpportunities
Like Comment
To view or add a comment, sign in
Confederation of British Metalforming (CBM)

2,024 followers
3d
Report this post
Confederation of British Metalforming (CBM) are exhibiting at Advanced Engineering UK 30-31 October. Explore the UK’s leading showcase of the latest advances in engineering to inspire you. Learn how to grow in an ever-competitive global market. Covering all sectors and points of the supply chain, this is the event you can’t afford to miss. Come down and visit to say hello.
Like Comment
To view or add a comment, sign in
Confederation of British Metalforming (CBM)

2,024 followers
4d Edited
Report this post
🎉 Exciting News! 🎉 We are thrilled to announce that Greenfields Energy Group Limited will be the Energy Efficiency Award Sponsor for the Confederation of British Metalforming (CBM)'s Annual Dinner & Awards 2025! 🎊 Join us on Thursday, 3rd April 2025, at the iconic Council House, Birmingham, for an evening of celebration, networking, and recognition of excellence in our industry. 💼 Why Attend? Celebrate the best in business and community Network with industry leaders Enjoy an elegant evening in a prestigious venue 🌟 Sponsorship Opportunities Still Available! 🌟 Want to boost your brand’s visibility? Other sponsorships are still up for grabs! Secure your spot today and showcase your company at one of the most prestigious events of the year. Please email Melinda Jean Melinda.jean@thecbm.co.uk 📅 Save the date, and we can’t wait to see you there! Liam Conway Stephen Morley Geraldine Bolton Louise Campbell Melinda Jean Rachael Bromley #CBMAwards #Sponsorship #Networking #BirminghamEvents #AnnualDinner2025
1 Comment
Like Comment
To view or add a comment, sign in
Confederation of British Metalforming (CBM)

2,024 followers
1w
Report this post
Confederation of British Metalforming (CBM) are exhibiting at the training and manufacturing Expo on 14th November at In-Comm Training centre in Telford.
Like Comment
To view or add a comment, sign in

Confederation of British Metalforming (CBM)

2,024 followers

View Profile Follow

Confederation of British Metalforming (CBM)’s Post

Transcript

More Relevant Posts

Explore topics