Trust hedging bets to cut fuel costs
THE Western Trust is amongst three health trusts across Northern Ireland which uses fuel hedge contracts to reduce its exposure to rising fuel costs, the Health Minister Edwin Poots has revealed.
The Minister advised that the Trust uses fuel hedges to reduce its exposure to increasing energy costs in response to an Assembly Question tabled by SDLP MLA Patsy McGlone.
He stated: “The Western, Northern and South Eastern HSC Trusts use fuel hedging to reduce their exposure to volatile and potentially rising fuel costs.”
Companies and public bodies can use fuel hedge contracts in order to buy fuel at a fixed price for a given period thus allowing savings if fuel prices rise.