Niko Coatings
Established in Bradford, UK, in 1979, Niko Coatings Ltd is a family-owned business that has grown to become the UK’s largest primary manufacturer of heavy layer sound insulation materials.
“We are hugely grateful to Red Hawk for identifying a flexible option for Niko, which would keep costs down and put us in control of our energy spend.“
Challenge
Niko was due to come out of its energy contract in Winter 2022 and had been offered standard fully fixed rates from its incumbent provider.
Clare Turner, Finance Director at Niko Coatings, said: “The contract end date couldn’t have come at a worse time. The markets were at their peak and being winter, costs were phenomenally high. If we had gone with the rates offered, we were looking at a 250% increase in our utility costs.
“There was no way that the business was going to roll over and accept these costs, so we began our search for an alternative solution, which brought us to Red Hawk.
Solution
Billy Ingham, managing director of Red Hawk, said: “Niko presented their concerns to us and we knew immediately that we would be able to provide a much more viable solution than that which was currently on the table.
“After having our initial meeting with the owners, I recommended and presented a fully flexible alternative where they did not have to secure any ridiculous fixed rates.
“A flexible solution enables then to take advantage of the day ahead markets and to purchase as and when the markets become softer, all led by our advice and expertise.”
Result
Niko is already beginning to feel the benefit of their change from fixed to flex. Within just four months, the business has saved £72,000.
Clare added: “We are hugely grateful to Red Hawk for identifying a flexible option for Niko, which would keep costs down and put us in control of our energy spend. We speak to them every week about our energy and the results show that we are in very capable hands.”
