Residential properties are protected by the price cap but there's no such thing for businesses. If you operate a commercial premises, chances are you are locked in a fixed price for a couple of years - are you prepared for when the fix ends?
Please check your energy bills for information on when your deal will end and budget for prices to increase 5-fold. There are no cheap deals out there. Have a look around on comparison sites and keep in mind prices are expected to reduce at the end of 2023 but not back to 2021 levels.
If you are coming out of a fixed deal soon we recommend opting for a 12-month fixed deal which will enable you to budget and hope for a better price next year - however you may prefer not to take the risk and fix for longer. Some experts are forecasting that prices will stay high for at least two years.
Can you increase your prices?
Businesses that are substantially affected by the energy rise, such as manufacturing, printing & food preparation - need to check the market and increase selling prices in line with their competitors. Review contracts for clauses allowing increases for inflation etc. and ensure you are putting the business in the best position to weather the energy crisis.
If your business is affected - ACT NOW
