Nordic Power Saver Ltd

General Terms and Conditions

Version 1.3, Valid from 2022-01-01

1 Terms and Conditions

These terms regulate agreements and additional services between Nordic Power Saver Ltd (hereinafter “NPS”) and a customer, a company, with a company number.

2 Definitions

NPS – Nordic Power Saver Ltd, Company No. 13769773, is a company that offers energy-related products and consulting on the energy market. 

Its registered office address is 20-22 Wenlock Road, N17GU, London England.

The website is available at www.nordicpowersaver.com.

Current contact information is available on the website.

Customer – a company, with a company number.

3. Products and service

NPS offers the service Energy management. The product is a concept for the overall management of the customer’s energy needs.

3.1 Energy purchases

Energy purchases are for electricity and gas. The same principle also applies for purchase of water.

Energy purchases mean that NPS procures, on behalf of the customer, which price and conditions are the most suitable for the customer. 

The purchases are based on NPS’s current market view and can vary between different agreements and price forms, based on the current market situation.

The goal for the purchases is that over time they will deliver a good and stable price.

3.2 Optimization & cost reduction

The service “optimization” means that NPS checks on behalf of the customer, if there is an opportunity to reduce the customer’s electricity network cost based on the customer’s energy profile and method of use. NPS checks the network companies’ various products, price lists and tariffs, and if there is a saving to be found. NPS also handles all changes and re-negotiations with the customer’s and respective suppliers. 

The same principle, as above described, is just for doing an energy tax audit for the client and its sites. Corrections and saving measurements are to be presented to the client in writing.

The savings are distributed by ⅔ going to the customer, and ⅓ going to NPS. These are invoiced annually. Invoicing takes place within 14 days within reported, and in writing documented savings that have been found.

3.3 Green energy

NPS only provides green, within the EU origin labelled from renewable sources, produced energy 

Purchases are made continuously per calendar year, and a compilation including a certificate of this is sent to the customer during the contract period, annually. 

Pricing is based on the green values procured by NPS in the open market. 

The contract period can vary from clause 3.1 and always follows NPS’s current market view, based on current raw material prices. The energy volume is determined in connection with a copy of the network company’s invoice being requested by proxy (see more point 5). If such an invoice is not received, NPS estimates the customer’s annual consumption to the best of its ability, and this shall be considered final.

4. Contract period

The agreement runs during the agreed agreement period. Physical delivery of energy may deviate from the contract period, but the final contract period for this contract is calculated based on the signing date and agreed contract period.

5. 5. Powers of attorney

When signing the agreement, the Customer authorizes NPS, or the one NPS appoints in its place to be, to be able to terminate existing agreements and enter into agreements with new suppliers, as well as obtain information about the client from suppliers before start-up. Information is obtained from the necessary parties and sources deemed by NPS. 

The power of attorney also applies to all measures considered by NPS for the delivery of item 3.

A separate power of attorney may need to be signed for certain suppliers to accept it, and the customer is responsible for signing this. 

The terms of the power of attorney reflect this agreement. If the customer does not sign the requested power of attorney, despite a reminder, the service shall be considered delivered.

Revocation of powers of attorney always takes place in writing.

The customer may also have a version of the contract which states that he can approve or not approve proposed energy contracts.

6 Contract time and price

The agreement is valid during the agreed period. Physical delivery of energy may deviate from the contract period, but the final contract period is calculated from the date of signing and the agreed contract period.

The contract has the contract time, which is agreed, and when it expires, the contract automatically continues in 1-year periods, and termination has to be sent at the latest 90-days before a new contract period starts. Termination is to be in writing.

NPS has a monthly management fee, the price of which is defined in the customer’s agreement, and this is invoiced annually, at the beginning of the delivery year.

7. Invoicing and payment

NPS invoices the customer on an ongoing basis in accordance with the agreement. The invoice payment must be received by NPS 14 days after the invoice date.

In the event of late payment, costs will be added according to current regulations (delay interest, reminder fee, etc.). 

The current late payment fee for the first reminder is 12 £, The debt collection fee is 25 £. Interest on late payments is 15 %, annually, and is calculated from the day succeeding the due date, if payment has not been received. 

The payment reminder can be sent earliest 7 days after the due date, and debt collection 14 days after the due date.

The price and other terms applicable at any given time are stored in NPS’s archive and contain all information that was available when the agreement was signed / entered into.

Each delivery year’s management fees are invoiced 14 days before the new period (year) starts.

8 Early termination

If the customer terminates the agreement prematurely, NPS is entitled to financial compensation which is the un-invoiced and future fees according to this agreement.

If the customer moves, the new delivery address is also covered by this agreement. If this is not possible, the customer must send in documentation, in writing, where this is stated. 

Notification of move (move-in or move-out) must be made at least 14 days before it happens. If this is not announced, NPS delivers all services according to this agreement.

9 Credit rating & scoring

NPS conducts ongoing credit assessments of its customers. If the customer fails to pay or receives a credit certificate four or lower from the general credit institutions, NPS is entitled to a Deposit. 

The deposit corresponds to the value of one year’s delivery of current, agreed, services by NPS. 

The deposit is used for the realization of future invoices. As the customer’s credit rating improves, the deposit is used for future invoice commitments. No interest is paid on the deposit. 

10 Responsibility

NPS’s liability is limited to GBP 1 000. NPS is not responsible for errors that have arisen or made by the customer’s supplier(s).

11 Transfer

NPS has the right to transfer the agreement, according to the same terms to third parties. This must be notified to the customer in writing within 30 days of the transfer being determined.

12 Confidentiality

For the customer, confidentiality applies to this agreement. Information may not be provided to third parties. The contractual fine for acting against this section is calculated according to the mechanism in point 8.

13 Contact information

NPS’s current contact information is available on the website. Contact information provided by the customer when signing the contract applies. 

If these change, the customer must notify NPS. Services are delivered according to current contact information.

13 Dispute

Disputes should always first be resolved through negotiation. If the dispute cannot be resolved according to negotiation, the dispute will be decided in London District Court. This is covered by confidentiality. 

14 Handling of personal data

Handling of personal data according to the privacy policy of NPS. It can be found on www.nordicpowwersaver.com/privacy