PELAGIA, MANUFACTURING, NORWAY & UK
Pelagia AS manufactures fish products for animal feed such as protein concentrate, fishmeal, and fish oil, and is the leading global producer of concentrated marine-based omega-3 fatty acids for human consumption in dietary supplement and pharmaceutical preparations. Pelagia operates over 20 factories in the UK, Denmark, Norway, and Ukraine – close to the fishing grounds to guarantee freshness.
A producer that relies on nature for production must be adaptable to maintain profits. For its Norway, UK, and Denmark operations, Pelagia needed an energy procurement and price risk strategy partner who could cope with the ever-changing changing energy consumption requirements of their business.
World Kinect effectively secured flexible electricity supplies of 110 GWh for Pelagia’s portfolio for multiple sites in Norway and in the Shetlands, taking advantage of pricing techniques that gave the customer the best market prices for fuel and electricity suppliers, keeping the costs predictable over time.
World Kinect developed electricity supply procurement and contracts with price of consumption secured on fixed-price contracts and part tied to spot market prices, tailored to adjust to thePelagia’s flexible consumption needs while keeping the customer in control of their energy costs.
World Kinect Energy Services provided Pelagia with a custom price risk hedging strategy for both electricity and fuel that satisfied their need for low yet predictable prices.
World Kinect Online customer portal provides cost, carbon and consumption information and gives Pelagia an up-to-date and transparent means of reporting. It also gives the customer the opportunity to benchmark market prices with their own electricity contracts, to ensure they are making savings compared to the market spot price.
In just one year Pelagia saved €960K versus the spot market, making a significant difference in reducing their operating costs and protecting their energy budget. By partnering with World Kinect for over 20 years, Pelagia gained a trusted energy and fuel adviser who became an extension of their internal operational team, consistently providing Pelagia with market intelligence, reporting, and energy savings.
