Should I fix my energy prices until 2023?
What is predicted to happen to UK energy prices in 2023?
Energy costs have spiked continuously throughout the year reaching record-breaking highs. What we do know is that energy prices are going to continue to stay high and this is likely to be the case during 2023, therefore we recommend you fix your energy prices until 2023.
Energy prices are expected to peak in 2023 so prices may decrease slightly during the year, but these soaring prices are still going to be considerably increased compared to the prices businesses would have paid a few years ago.
What are the several types of gas and electricity tariffs?
Fixed tariffs are not the only type of tariff on the market. There are a variety of different contract types available including:
Your rate will not change throughout the entirety of your contract whilst on a fixed energy tariff.
Your rate may fluctuate whilst on a variable contract depending on the market conditions at the time.
Your rate and standing charge can decrease but not increase on a price capped tariff.
Can you save money by fixing your energy prices?
The answer to whether you can save money by fixing your energy prices depends entirely on the market conditions at the time.
Fixed energy contracts are known to be one of the cheapest tariffs on the market. If energy prices begin to drop, it may be possible to find a cheaper variable contract, but we don’t believe prices will drop anytime soon. It is important to remember, that if you are on a variable tariff and prices increase, your energy supplier will charge you a higher price as your unit rate is not fixed.
What should I do if my fixed energy tariff is due to expire – Should I fix my energy prices again?
If you are currently locked into a fixed tariff, you are in the best position now. Once your fixed energy tariffs expired, your current energy supplier will place you on a variable tariff which is known to be expensive.
When your energy tariffs expire, this is your time to search the energy market for a better deal. We can help your business compare prices from the UK’s leading energy suppliers to help find you a fixed tariff.
How to find the best business energy deal?
The best way to find the best energy deal is to compare the energy market and fix energy prices as soon as you can. This will protect you against any further price rises as we are all unsure what will happen to energy prices in the next few years. Due to the current energy crisis, we recommend you fix your energy prices until 2023. Contact us today to speak to one of our energy experts, ready to answer your questions.
Business Energy Comparison
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