The Future of Energy Brokers & Consultants - Artificial Intelligence • Hamed Adefuwa

Revolutions cut out the middle man - Energy suppliers are middlemen and eventually, we will see them go. Renewable energy & microgrids will change how consumers buy energy. It's a controversial view but one I believe is inevitable. Another is that brokers are dead, consultants have a chance. Will brokers & consultants be needed when artificial intelligence can do a better job? Is everything all about price or do people care about service? When consumers generate their own energy, will they buy from brokers? Will energy costs ever reach zero?

Read my blog post on it here, especially if you're a broker/consultant!

https://hamedadefuwa.co.uk/future-of-energy-brokers/

I get asked this question a lot and wanted to just quickly answer in brief. If you're in London paying over 12p per kwh (aka unit rate) for your electricity - you're paying too much. Anything under that is good. For the rest of the country, if you're paying around 12.5p, you're alright. Over 13p and you should have a look around.

That's regarding the electricity.

In terms gas you shouldn't be paying more than 3p per kwh wherever you live/work.

15 Jobs That Will Disappear In The Next 20 Years Due To AI

I absolutely agree with all of these. I look forward to these jobs disappearing. What's interesting is my "job" won't exist either.

Credit: Alux.com

The Third Industrial Revolution - Jeremy Rifkin

I'd strongly recommend watching this if you care about what the next 20 years is going to look like. If you're interested in just the energy industry then watch from 40:00

If as a business your supplier hasn't billed you in a year for whatever reason (aslong as it's not your fault), you don't have to pay it. If they try to force you, read this to them...

Ofgem said:

"Our decision on backbilling will protect consumers from receiving unexpected and large catch-up bills, often leading to stress or financial difficulty."

Learn more: http://ow.ly/JBtv30iKVzY

Timeline Photos

Took me 11 minutes to release this was a button to release the charger on the Prius. This #ev stuff takes some getting used too.

Timeline Photos

I'm saving the same amount of CO2 a year as 1,504 trees. Join @bulbenergy with my link and get £50 free https://buff.ly/2ml98k0

hamedadefuwa.co.uk

As business energy suppliers look to allow their customers more flexibility, they are competing with each other to extend their renewal window. British Gas are often the first to initiate these moves as others closely watch the response from the market. They extended their renewal window from 6 months to 1 year and brokers, businesses and consultants were all pleased. Unsurprisingly other suppliers are beginning to follow suit.

Visit my website to see the updated windows of the suppliers who have extended their renewal windows;

2018
The growth in direct relationships with suppliers sets to increase in 2018, I’m hoping to get my supplier count up by a few more. Although I’m happy with 19 suppliers, I really do want to fully represent the market.

Addressing the problem of going out and actively seeking new business needs to be my main focus. It’s probably my most disliked part of the job. I don’t like to come across as someone needy or someone trying to sell something, unfortunately talking to someone new for the first time it does tend to come across that way. I will attempt to spend one day a week seeking out new clients. However I’d like to change the methods. Previously I sought new business by cold calling. Although this works, it doesn’t create a good feeling in me. I’m going to attempt to get new business by marketing and giving people value by way of online content. It may not work or it may be slow but as I currently have a lot of existing customers it’s a risk I can afford to take.

As much as I don’t like to think it is, Sky News is definitely entertainment more than educational. I have an Alexa and a Google home which I can use to give me important news updates so I don’t actually need to watch Sky News for four hours a day.

Slightly more important than seeking out new business would have to be sorting out my vision. I have a lot of things that I want to achieve in life however my only plan for the business was to stay alive. My business is in its second year now and I’m delighted. Now I think it’s time to take it to the next level. My vision for 2018 is to double my income and to spend that extra income on educating myself in renewable energy and energy management systems. We live in a fast pace and ever changing world. Sooner or later brokers and consultants like myself will no longer be needed. I’m not sentimental that’s just the way things work. Upskilling myself will both benefit my customers and my future.

I hope that by the end of 2018 I can be in a position where I help my customers pay less for their energy, use less energy and think more green.

I look forward to this year, all the best.

Hamed

Homepage - Hamed Adefuwa

2017 was a good year for me. I’ve managed to create a business model that allows me to truly put my customers first. I’ve set up some fantastic relationships with Suppliers & Broker, giving me wonderful flexibility.

Reflecting back on the last 12 months, business has been great, but I could have done a lot better. I played it safe. Either due to laziness or comfort, I barely tried to find new business and instead relied heavily on previous customers.

One of my biggest challenges this year came in the form of Sky news, ugh. Now I do really enjoy Sky News as a broadcaster but I seriously lost some hours. No more Sky News during work. What I lose in political awareness I’m sure I’ll gain back in satisfaction from working hard.

Everyone is well aware that if you have a clear goal of where you want your business to go, your business is going to do a lot better than you winging it. I didn’t have one, this too must change.

Read more @ buff.ly/2CAtBc8

Fun Fact: Civilization’s first significant energy invention was fire, and it was only about 5,000 years ago that humans began using other energy sources such as wind.

SSE now allow business customers to renew 1 year out from their contract end date. British Gas was the first to allow customers to do so, hopefully, more follow!

Decembers Gas Disaster – Prices Going Up!

Brace yourself, things are getting a bit crazy with gas prices. We’ve seen in the last 24 hours some major problems. Mainstream media are always ready to bash energy companies over their high prices the reality is, it’s not always their fault.

Yesterday a Gas pipeline (known as Forties Pipeline) in the North Sea was closed due to fractures in the pipeline. This pipeline transfers around 40% of Britain’s Oil & Gas. It will be closed for at least a few weeks, which as you can imagine, will massively effect us.

Further to that, there was an explosion this morning (12th of December) on a Gas pipeline in Austria, which was one of the main pipelines to Western Europe.

Add to that, the coldest night of the year last night, the snow all over the place, many people staying at home. I’m going to have to advise you that now is THE WORST TIME to do a Gas contract.

If you’d like to know more or want to know when would be a good time to do your Gas, drop me an email at me@hamedadefuwa.co.uk and I’ll be sure to keep you updated.

Photos from Hamed Adefuwa's post

Bulb Energy – My Domestic Supplier of the Year

With 2017 ending, energy price caps looming, Brexit producing enough news for 10 years and winter bills rising – I figured I’d offer a little distraction. I hate to recommend a supplier I haven’t used or dealt with before so rest assured, I’ve been with Bulb Energy for near to 6 months and it’s been great.

Green energy and cheap unit rates, could you ask for anymore?

If you’re looking to save some money on your domestic (home) bills then I couldn’t recommend Bulb Energy enough. They will gladly boast to you that they are the number 1 energy supplier on Trust Pilot.

The two founders, Hayden & Amit, made a big effort to simplify things for their customers and bring energy back to basics. They simply offer one tariff. It’s a variable tariff and a very cheap one at that. No exit fees. Infact they’ll pay your early exit fees for you if you switch to them.

I could go on but I’m sure you’re sold already but finally..

They offer both myself and yourself £50 credit when you join with them.

Please use this link below;

bulb.co.uk/refer/hamed3406

See more like this at http://www.hamedadefuwa.co.uk

Price Cap – My View
In light of the news of this new price cap, I have a question;

If you want to control the prices of energy, why not control the prices of rent, phone bills, internet, train prices?

Controlling markets don’t work well. Restricting prices will bring short term benefits and it will make people jump for joy for the duration of the cap. What happens behind the scenes and then the immediate impact once the cap ends will be devastating to the average Brit. I wonder what will happen to all those who jumped for joy when they’re monthly bill goes from £90 to £160. Ultimately it’s short term gain, long term pain.

Getting involved in this energy market will slow down competition between suppliers, stop customers from engaging with the market and throw innovation out the window.

The problem isn’t with prices, the problem with the market is people aren’t engaging their energy suppliers. They don’t care about saving £50 a year and when this occurs every year over 10 years; they’ve lost £3900 over that period.

I’m no expert and don’t really know how to solve this problem but trust me, the political guys suggesting this are doing it to win your vote and not because it’s best for you.

I’d probably recommend insulating homes, getting customers energy monitoring devices and educating them on how to use less energy. Shopping around to save 5% on your bill will never save you as much money as reducing your energy consumption by 5%.

Energy companies are always caught up in the political mess, thrown to the dogs in my opinion, when it comes to “ripping off customers” and overcharging for electric and gas. The reality is this isn’t the case but we’ll discuss this another time. Since everyone has been talking about these price caps, energy companies are attempting to do something to stop the price cap.

As such EON first, and now Scottish Power have moved to scrap their standard variable tariff and now put people onto fixed price tariffs when their current one ends. This means that once your November 2017 tariff expires, you’ll be put onto a November 2018 tariff. What we’re unsure about is whether you will now be free to leave that tariff at any time for free or would you have to pay an exit fee to leave, I’d assume it’s the latter.

Is this good news, yes, however I’m sure prices will continue to rise and I doubt profit margins for these suppliers will get any bigger.

Ofgem are planning one day switching... now that's some news I'd welcome.

Time To Consider A Longer Contract

As with all things, energy prices go in cycles. I joined the energy sector in 2014 when the market was as low as it was in 2008. Clearly I joined at the lowest end of the cycle. You all remember in Winter 2015 when the petrol price per litre was 0.98p. Now were about 13% above that. The average price per kWh has increased by about the same in that period however for customers that use energy brokers, they really notice the difference.

Although the average price has only changed by 15%, the absolute bottom line price has changed drastically in two years. Since the EU referendum suppliers put their base prices up by 1-2% every month.

If you worked with me in 2015 you would have been on 8-10pence per kWh. Now the cheapest client I have is on 10.5pence p/kWh, with the average kWh being 12pence.

The question may arise, who's to blame? If you're interested give me a call and we can discuss why the Governments plan to have half hourly meters in every property, domestic or commercial in the next 5-7 years is both pointless and expensive for us.

Any ways let's forget the blame game and look to what you can do about it. Gas keeps getting cheaper as technology becomes better, we're able to store it more cost efficiently. So don't fix that one for 5 years, I can almost guarantee I'll beat your current gas price now.

Electricity on the other hand is a different fish. About 30% of electricity is made from Gas. Odd thought I know but it's true, the cost of making electricity is cheaper but the cost of transporting it and meeting these ridiculous government regulations/plans costs stupid amounts of money. I'd very rarely beat your current electricity prices unless you got ripped off previously. I'd recommend going for a two or three year price. Of course the prices might come down, but I most certainly doubt it.

Thanks for checking out my page. This is just a personal blurb for me to spat all things energy market. All of it is my opinion as a self employed business broker. I have no allegiance to any individuals or organisations and all opinions are completely my own.

If you'd like to get hold of me, you can on 0208 050 5456 or drop me an email at me@hamedadefuwa.co.uk

Suffolk Energy