Small energy supplier folds as wholesale prices rise
Is there any impact for Utility Helpline customers?GB Energy Supply was a purely domestic supplier, so no commercial energy customers will have been affected by their closure. But the company was purchasing from the same market as many non-domestic customers, and their closure could be viewed as a warning sign for fixed-price buyers. GB Energy Supply’s inability to forward purchase at competitive prices will be concerning to some companies, particularly those that spend a high proportion of their outgoings on energy. Forward purchasing means buying energy for a pre-determined period at a locked-down price. This type of energy buying is good for businesses that value budget certainty because it means that they can lock in prices for up to five years. However, the commonly held view that prices will rise means that forward purchasing prices have been pushed up, making energy more expensive for those looking to negotiate contracts soon. To get the best prices in this buying environment it is important that you work with someone who understands the market, and visit as many different suppliers as possible to find the cheapest business energy suppliers. Utility Helpline is a trusted energy broker that has worked with thousands of companies to find the best deal. Get in touch today and compare more than 70 tariffs from 20 suppliers. Call: 0800 043 0423.
Published by Utility Helpline on (modified )
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