Eutility demonstrated to Centuria the value of utilising progressive purchasing as a means to limit exposures to high energy prices and maximise the lows of the market through opportunistic purchasing.
Hedging the same way an energy retailer does and manages this process under strict budget controls delivering good governance procedures including oversight.
Centuria saw the advantage in doing this and yielded a $2.1M cost avoidance against the average market price. Excellent hedges secured for Calendar Year 2023 was a great commencement to the first year of progressive purchasing.