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Why are the UK gas and electricity prices so high?

With the issues, the UK has faced over the last two years such as covid-19 and Brexit. Many sectors have been affected. The energy market is one sector that has struggled a lot and made many other aspects of life difficult for many people including businesses.

The higher demands for energy over the lockdowns as well as shortages have meant that many suppliers could not deal with the demand for energy that has outweighed the supply.

Much of the UK’s energy comes from other places across Europe, this means when reserves have been low in Europe, we have had no way of stockpiling energy which has drained any natural gas storage that we already did have.

 

Will the price cap increase affect your business energy?

From April 1st the energy price cap for domestic energy are going to be increased by Ofgem. As energy prices are always getting higher it is likely that more people will be affected by this new price cap. Experts have estimated that this is going to increase around 50%. This will allow energy suppliers to charge domestic customers more for their energy contracts. 

Now if you’re a business you might not think this is important for your gas and energy deals, but it can still have a knock-on effect. Suppliers are likely to also do the same with the business energy rates. If you are struggling to find a commercial energy deal that suits your pricing range why not use our comparison tool to find the best deal for your business needs.

If you were considering switching your commercial energy contract now might be the time to do it. Here on our Online Energy Business website, we offer online quotes to allow you to compare the market and get the best electricity and gas prices. By choosing to work with us you could become one of the many businesses we have helped switch to a cheaper energy deal. This could potentially save your business thousands.

 

How can your business keep energy bills low?

As well as choosing cheaper energy tariffs there are many ways your business can cut energy bills. As a business owner you should be thinking about when and how you’re using the most energy. As well as how you can reduce this amount to your employees. Some examples include:

  • Being mindful of water costs-switching taps off and not keeping them running for an extended amount of time.
  • Change the office lighting to sensor lighting so they automatically switch off when not in use.
  • Encourage employees to be energy-aware.
  • Try to switch appliances off such as computers or monitors off when not in use.
  • Think about adding a smart meter if you haven’t already to keep on top of when you’re using the most energy.

 

By switching your business energy suppliers, you could get a better business energy deal and save money.

Also, there are many energy suppliers opting towards renewable energy at the minute so switching to one of these suppliers could decrease your companies carbon footprint.  Your business has a corporate social responsibility to ensure they are not creating too much damage to the atmosphere, switching to renewables can help you stick to this.

Although staying on top of your business energy contract is one way to keep costs low. You need to know what the best supplier is to go with. Finding this information can sometimes be a long process and depends on having good industry knowledge. 

If you feel your business does not have the time or resources to do this why not use our comparison tool. This allows you to compare prices from lots of different energy suppliers which has been put together by business energy experts.  

Energy prices rising is something unavoidable that is always going to happen. To ensure that your business energy bill is not hitting your company too hard you should always try to compare as many energy suppliers as possible. This way you’re never spending more than you should for your business energy deals.

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