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Lock in prices before wholesale energy rise
With wholesale energy prices creeping up, the best business energy deals have started to disappear. To secure a good energy future it is important that you act now to compare the fullest range of small and large energy suppliers.
Wholesale energy prices have risen considerably since the Brexit vote earlier this year. Last week, gas and electricity prices were between eight and ten per cent higher than in the week before the referendum, according to Utility Helpline data.
Some forward purchasing contracts have already risen by as much as 60 per cent. And available evidence suggests that further increases are still to come.
Domestic energy retailers have already acted to increase their prices. Price comparison website uSwitch found that five of the biggest energy firms had increased the cost of their cheapest fixed rate tariffs since September.
Business energy contracts behave differently to domestic ones, but wholesale energy still makes up the bulk of the costs.
Wholesale energy prices have risen for a whole variety of reasons. The diminished buying power of the pound is clearly a major factor, but there are other underlying structural factors too. Cheaper coal fuelled power stations are disappearing and Britain also has a growing dependence on gas, reducing the scope for price negotiation.
There's still time to get a good deal
Many suppliers have already increased their prices, but there are still good fixed rate deals to be found by comparing the fullest range of small and big business energy suppliers.
Utility Helpline compare more than 70 tariffs from 20 handpicked suppliers to get our customers the best deal on their business gas and electricity.
Learn more about Utility Helpline’s services or get a quote today.