2020 will forever be looked upon as a year that fundamentally changed the global business landscape. Lockdowns prompted by the coronavirus pandemic forced businesses to rely on new means to go about their work, and premises were left dormant as employees adjusted to working from home. Business gas and electricity needs were an afterthought for many, but as we look ahead to a year with signs of positive change, it is time that they are addressed.
Confidence is returning
The rapid development of coronavirus vaccines has helped alleviate pressure on the medical industry. As vaccine roll-out plans expand to include people from all walks of life around the United Kingdom, we can begin to think about how the working world will adapt to the impact of changing business practices over the last year.
Smarter Business Head of Mid-Market Solutions, Tim Sealy-Fisher, believes that all signs are indicating growing confidence that markets will continue to rally – which is reflected in increasing global fuel demand:
“In early December, COVID-19 vaccine announcements generated confidence in oil markets with anticipation in a lift of global fuel demand, creating a surge in fuel and energy prices.
During this brief period (1 December to 20 January) Brent Crude Futures, one of the fundamental drivers for UK wholesales energy prices, have rallied for six consecutive weeks increasing by 15.69%.
On the back of these increases and forecasts for a return of the ‘Beast from the East’, gas and electricity prices have soared by 24.72% and 17.06% respectively. To keep these increases in context; prices are still between 30% (electricity) and 13% (gas) cheaper than prices were in September 2018.”
As you consider your business’s return-to-work programme, it’s time to re-examine your energy practices:
How is your business energy contract structured?
Does it still apply to your new way of doing business?
Whilst businesses are clearly still focused on recovery, this is a good time to consider switching energy suppliers as your business needs begin to shift once again.
“With the key focus from for businesses returning to the office being centred on social distancing and adhering to government guidelines and the safety of staff, it’s easy to push aside administrative activities such as optimising utility contracts. Most business owners have enough on their plate without tracking energy markets,” said Sealy-Fisher.
However, it is one area in which money certainly can be saved. The UK energy sector is a competitive market, and with energy prices in a state of flux, there are savings to be had by doing your research now.
Expert guidance can help reduce gas and energy costs
That’s how our team of experts can assist your business. With over 40 000 satisfied customers who have switched energy suppliers to save, we’re confident that we can find you the best price on your business gas and electricity needs.
We take away the hassle, doing all the work and providing you with the savings. Our experienced consultants are on hand to compare different suppliers’ offerings, and find a tailor-made package that suits your long term energy needs.
A look to the future
For a limited time only, Smarter Business is offering clients with one year’s free access to the OpenView utility management platform, which provides daily updated forecasts of your energy costs for the next three years.
This type of technology is usually only available to energy traders and brokers is has been adjusted specifically with our clients’ requirements in mind.
The intuitive technology provides you with notifications based on your company budgets allowing you to focus on these costs at the times that matter, to take advantage of the savings on offer, and to mitigate potential future price increases.
We know how important it is to cut unnecessary spending, and at Smarter Business, our team of experts can help optimise your energy costs. Contact us today for a no-obligations consultation.