Beond were formed in 1999 following the electricity market deregulation and at that time the organisation was called Buy Energy Online (BEO). The core software service of BEO was an online reverse auction pricing engine that aimed to increase pricing competitiveness for small and medium enterprise (SME) businesses in the UK. The software helped clients deliver real savings by comparing energy supply contracts fairly and transparently. As the electricity market matured more complex energy supply products became available, driven by supplier and consultancy innovation to meet changing client needs. BEO were proactively involved in this advancement and developed a number of ground breaking hedging strategies to help clients manage and control their energy spend more effectively. As part of this innovation, BEO developed an in-house system to analyse flexible energy supply agreements to allow the client to navigate effectively through the vast array of products on the market. The ultimate aim was to enable the client to make the most informed decision possible based on their own appetite for risk and need for budget stability.
Up until this point, the commodity cost had been the dominant element of an energy bill but regulation and legislation driven by the global response to climate change meant that this dynamic was changing. Non commodity costs such as environmental taxes and network infrastructure charges were increasing and as such becoming a more prominent element of a client’s energy cost base.
The only real way to mitigate against these increasing energy costs is to not use energy at all or to generate it yourself. As such BEO developed an in-house technology services division focusing on energy efficiency measures and on-site generation opportunities. By this point the business had moved away from the online SME brokerage model and had evolved into a Zero Carbon Energy Software Consultancy. As such, the BEO name was no longer fit for purpose and the business rebranded in 2015 and became Beond Group. The Beond name represents a desire to continue to innovate whilst still acknowledging the past by retaining the BEO in the name. Fast forward to today and Beond remains passionate about creating innovative software solutions that deliver high quality services to non-domestic energy consumers.
A key indicator of this passion is the Zero Carbon Project. This is a blockchain initiative that aims to reward consumers for tackling climate change.