The Association and its group subsidiary companies said that they recognise that in the current economic climate it must operate as efficiently as possible to ensure that its tenants receive value for money from its landlord and service provider.

Kingdom Group recently conducted a procurement exercise using the Scottish Government Utilities Framework agreement for the procurement of its office gas and electricity supplies. In addition, it has used the same framework agreement for the procurement of electricity in more than 180 locations for common stair lighting and associated common electricity supplies.

The procurement exercise delivered savings as follows:

• Office gas supplies - 28.44% saving equating to an estimated £9,950
• Office electricity supplies - 22.2% saving equating to an estimated £9,317
• Communal space electricity supplies - 28.23% saving equating to an estimated £22,882.

Nick Pollard, director of finance and digital, said: “We are delighted to have achieved significant and real cost savings for Kingdom and its customers as a result of using the Scottish Government Utilities Framework agreement in a procurement exercise that will deliver operating cost efficiencies.

“We look forward to working with our new utility partners under this 12 months rolling contract, EDF Energy and Total Gas and Power.”

Bill Banks, group chief executive with Kingdom, added: “The board received feedback on the efficiency savings at the March board meeting and agreed the savings from the communal space electricity supplies would be passed onto customers through restricting the 2020/21 service charge increase.”