A long-term contract
proved vital for
future budgeting

Background

Café Central Park is one of Middlesbrough’s best-known restaurants and has established itself as one of the North East’s most popular eateries. Launched in 1979 by husband-and-wife team Idris and Maggie Moullali, the iconic restaurant serves up classic Italian cuisine and is renowned for its lively atmosphere and bustling cocktail bar.

A typical Friday night sees the restaurant serve hundreds of hungry diners, taking up a lot of energy from the restaurant’s talented team of chefs and hard-working kitchen equipment. With energy bills on the rise, the restaurant sought to reduce its overheads and tasked Magnetic North with saving it some money.

A 5-year fixed-price contract
saved over £1,700 a year and
helped Café Central Park avoid
forecasted wholesale energy
price rises.

Challenge

Managing reservations, supervising staff and keeping on top of inventory, the restaurant’s owners were already inundated with work and didn’t have the time to manage their business energy. After receiving the renewal offer from the incumbent energy supplier, the restaurant faced price rises of up to 9.2% and contacted Magnetic North for help.

Whilst the restaurant had been with their existing supplier for some years, they felt dissatisfied by the proposed price increases. Owner’s Idris and Maggie did a simple online price comparison but couldn’t beat the renewal price offered. Energy costs were a significant overhead for the business, and so they were keen to keep costs down.

As small business owners, Idris and Maggie needed to accurately budget for the years ahead. Dealing with lots of bills and other costs, cost certainty was an important factor for the restaurant and would help them to manage expenditure effectively. It was determined that a fixed-price energy deal would offer greater control and protect them from wholesale gas and electricity price rises.

Solution

Magnetic North used their business energy expertise to secure savings, leveraging its supplier network to generate tariffs that were considerably lower than the restaurant’s previous rates. We were able to switch the contracts quickly and easily to secure a 5-year fixed-price contract with annual savings of over £1,700.

Extending the contract over a longer period proved particularly advantageous for the restaurant, and helped the business avoid forecasted wholesale price rises during a volatile market period. Providing greater cost certainty, this decision enabled the restaurant to effectively plan energy expenditure and avoid price rises for over 5 years.

Since securing savings, Café Central Park have been able to benefit from access to our wide range of services that have helped them to reduce consumption, cut costs and become more sustainable. Their dedicated account manager keeps in close contract, regularly analysing consumption, validating bills and providing advice to consistently keep costs down.

“Since partnering with Magnetic North we have been able to secure favourable rates, helping us to reduce energy costs and make the most of our limited resources and budget.”

Idris Moullali
Owner at Café Central Park

Proud to be independent

It’s pretty straightforward: we only ever answer to our customers. Because we’re 100% independent, we’re free to offer you a price comparison from right across the UK’s energy market. We look at your business closely and carefully to find a genuine deal based on a realistic forecast of what your next contract will deliver. No hidden agenda, no outside influence, no funny business, just the right package for you.

Want to
know more?
We’ll call you.

Proud
to Power
British
BusinessTM

Magnetic North Group Limited is a company registered in England and Wales with registered company number 010266049 and its registered office at Dunedin House, Floor 1, Columbia Drive, Thornaby, Stockton-on-Tees, TS17 6BJ. Our VAT number is 248276186.