Education savings: Schools can save teaching staff by spending millions less on energy.
Monarch was hired by Magdalen College School in Oxford. We found the organisation had been overcharged for gas consumption due to new meter installations, and removal of old ones in connection with the refurbishments at the school. After a thorough investigation, data analysis and historical cost reconciliation, a backdated refund was secured from the supplier for over £5,000. We also renegotiated past and ongoing contracts with a reduced rate and put all future invoices put under continuous bill validation, which resulted in an annual saving of £46,460, and £101,190 across the 29-month contract.
By taking utility management seriously and implementing steps to ensure that contracts and bills are tracked, checked and competitively tendered, education organisations across the UK can save millions of pounds. It’s a simple change and one that can be made now to protect the nation’s teaching staff.
When schools don’t have the time or the expertise to manage their own utility costs in-house, an independent consultant should be considered to research the market, source, negotiate and procure the best price and value for money.
A consultant should create an asset register to monitor all utilities expenditure across multiple sites. This will help keep track of all utilities, contracts and invoices, and identify when they need to be renewed. It’s also crucial to check each invoice with ongoing bill validation to ensure it’s accurate and for the agreed amount.
With historical cost analysis and revenue recovery, a school can also claim refunds that date back as far as six years. It’s important to note that an established, industry-recognised consultant does not take commission from any supplier. They only work for the customer and have no conflict of interest.
