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5 Energy ‘Need to Knows’ in the UK

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5 Energy ‘Need to Knows’ in the UK

Wholesale gas peaked this year at over six-times the record reached in 2021 at the start of the energy crisis. Market analysts say there is no sign of downward pressure on prices for the next few years.We can support and guide you through these unprecedented times, to help you make the best, most informed decision for your business to try and mitigate the risks of the volatile energy market.

Contact us today to see how we can support your business: 0800 840 6800 | hello@fidelity-group.co.uk

1. There is no energy price cap for businesses

The Ofgem price cap only applies for domestic rates, so businesses approaching the end of their tariff or who are out of contract will be paying significantly more for their energy than they were previously.

2. It is not just gas…

40% of the electricity used in the UK is generated from gas, so the high wholesale gas prices has also impacted the cost of electricity contracts.

3. Check your contract end dates

If you are out of contract, yours ends in the next 6 to 18 months or are in a longer term one, speak to us now so we can advise you on the next steps as there will be different options depending on your end dates.

4. Do not accept your initial renewal offer

Your renewal offer is unlikely to be the best price available, and 9 times out of 10 a cheaper tariff is available. We can help you compare the market to get the best rate.

5. Monitor the market

At the moment prices are changing all the time. We can compare the whole market to help you get the best deal now and help move you to a lower cost tariff when prices begin to fall

By working with a wide range of suppliers we ensure that we have access to the best market pricing available. Prices can
vary by 28% between the highest and the lowest quote for each customer. If you only check the price of one supplier, vary by 28% between the highest and the lowest quote for each customer. If you only check the price of one supplier, it’s
rare that their prices will be the lowest on offer. We take away the pain of trawling the market looking for the best deal.