TEC 2024 Annual Report Final - Flipbook - Page 6
TEC MEMBERS
REAP THE BENEFITS OF
BEING PART OF THE
TEC FRAMEWORK
For the third year running we were delighted to share that our Member’s continue to gain
benefit from a double digit return on fees spent within the TEC Framework, showing the
strength of group buying with considerable savings achieved across the membership.
In 2023/24 the TEC Membership averaged a saving of £11.10 on every £1 spent on fees within the Framework for gas and
electricity utilities and increased savings, in excess of £847,000, from the Water Framework rate vs Default Wholesale charges.
Each year TEC provide data to quantify and demonstrate the benefits of using our Frameworks. In Higher Education this is a key
part of reporting under the Procurement Value Survey (PVS). We capture and report contract spend and consumption through the
frameworks for each Member’s fiscal year.
Looking across the membership the key highlights from our
2023/24 Benefits Statement are:
savings are only possible through large consortia
arrangements such as the TEC framework.
• Return on investment – savings per £1 spent within TEC –
stood at £11.10.
• Energy spend was up from 2022/23 to £679,532,888,
reflecting our increased membership with nine new members
joining throughout the year.
• Electricity and gas savings through being part of an
aggregated flexible basket doubled from the previous year,
reaching £6,362,123
• Water savings vs default were an impressive £847,159
• Total cost avoided by being part of the TEC framework
remained steady at £6,827,611.
• Fully fixed versus flexible contract savings amounted to
£18,415,281.
• Significant
savings
achieved
through
group
buying, specifically the Volume Related Discount. These
• Energy consumption also increased in line with our portfolio
growth to 4,006,985,529kWh.
• Transparency in our charges to each Member and the whole
membership. This includes Risk Management Services
charge, Orbit Portal access and TEC Member & Bureau
services to the membership.
• Demonstrating the support from our Bureau and MSA
teams in how many invoices (185,276) and queries (932)
were processed across the membership this year, saving
each member time and money.
“It has been another excellent year showcasing
the clear advantages of being a TEC Member. One
of the standout highlights was the benefit of group
buying through Volume Related Discounts. While the
year-on-year savings have decreased in 2023/24,
this is largely due to the easing of energy market
pressures as we emerged from the Energy Crisis in
2022 and the decline in costs to fix non-commodity
electricity charges. Nevertheless, we are pleased that
these savings remain above the long-term average,
especially as our Members continue to face growing
financial pressures and the challenge of achieving
more with less.”
GEMMA BLACK - TEC’S HEAD OF OPERATIONS
04
THE ENERGY CONSORTIUM - ANNUAL REPORT 2024
