1 Agenda Background and Concept

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Agenda § Background and Concept § Sharing the benefits § Current Members § Contract Set Up § Contract Structure & Benefits § What the members are saying § Marketing 2

Background & Concept § Collective energy procurement service for UK arts organisations § Founding members: Royal Albert Hall, Royal National Theatre & Royal Opera House § Arts orgs supporting one another § Main objectives: § Provide members with a transparent and mutually beneficial platform to obtain competitively priced energy supply contracts § Deliver savings against the financial plan and the average market § Protect the members’ budgets § Best value for all members § Costs are fairly allocated § Set up as flexible contract – allowing PE to purchase energy directly in the wholesale market § Timing and rules for energy purchases defined & governed by Risk Management Strategy 3

Sharing the benefits § Pooling energy together – more attractive to suppliers § Leverage from Multiple brands § Access to wholesale market § Arts basket dedicated support team § Experts handling managing your procurement § Driving down energy costs and building green credentials Transparent reporting § 1 st Year savings = 7% below market, Yrs 2 & 3 below market 8% § Contract in place easy to join 4

Current Members Founding Members 5

Contract Set Up § Half hourly electricity contract set up in April 2012 following competitive tender process § Contract awarded to Scottish & Southern based on: § Lowest price § Fixing of most non-energy charges – only RO, DUo. S & TUo. S are passed-through, but fixed for 12 months at a time § Attractive contract features, including: § Favourable trading arrangements – full access to wholesale market prices & provision of sell-back facility § Ability to actively manage customer portfolios § Risk Management Strategy is in place and showing the benefits 6

Contract Structure & Benefits § 36 month flexible contract commencing 01 October 2012 following a competitive tender § Favourable trading arrangements – full access to wholesale market prices & provision of sell-back facility § Customer-specific pricing § Billing in line with simple fixed price contracts – rates set in 12 month intervals § Fully inclusive day/night unit rates § Standing charge § Available capacity charge § 100% Renewable Energy supplied at discount on CCL rate § Annual +/- 15% volume tolerance on group level § Ability to re-forecast contract volume at any time § Ability to add & remove sites § Ability to add new customers 7

Risk Management Strategy § Risk Management Strategy set up by PE § Agreed with founder members and applied to all basket members § Based on clients objectives and PE view on current and future markets § Setting of budgets for entire contract term § Objectives: § Conservative approach to risk § Protecting customer budgets § Minimising costs § Tactics: § Controlling risk through tiered purchasing § Utilisation of a range of purchasing triggers – stops, trailing stops, targets, time limits 8

Scottish & Southern Sustainable Generation 9

What the members are saying. . . Jessica Hepburn, Executive Director, Lyric Hammersmith ‘ It’s fantastic to be collaborating with our peers to improve our collective sustainability. The Lyric is fully committed to being a leader amongst arts venues who want to reduce their impact on the environment and we are delighted that the Arts Basket has become a major part of our green arsenal’ Sally O'Neill, Director of Finance, Royal Opera House “The Arts Basket is a major opportunity for venues like ours to cut energy costs which are a significant overhead. We want to encourage other arts venues and theatre managers to consider applying to join the Basket. ” 10

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