22 May 2003 | Robin Parker
An e-procurement system for energy buyers has been expanded to help companies centralise their purchasing across the increasingly deregulated European market.
EnergyQuote aims to get a third of its 600 customers using its new pan-European gas and electricity platform within the next three years.
Its main focus will be on companies with sites in more than three countries.
The offering builds on the £1.5 billion in contracts gained on its UK-specific system since it was set up eight years ago.
More than £10 million of transactions have been conducted in early trials of the site, which will be offered in 10 European countries.
EnergyQuote predicts average cost savings of up to 20 per cent by encouraging more competitive tendering among 150 energy suppliers across the continent.
It will negotiate with these suppliers, as well as provide regular analysis of their energy consumption and costs.
Several European countries already have fully deregulated energy markets, and the remainder are due to be open by 2010.
Christopher Lydiard-Wilson, chief executive of EnergyQuote, said the main aim was to help companies get to grips with each country's charging and registration practices and to determine when it might be worth changing suppliers.