Due to the soaring costs of wholesale gas, the UK has recently seen skyrocketing costs for gas. Consequently reflecting on the domestic price for customers. These costs have seen 26 energy suppliers exit the market.Here are 5 things you need to know about the UK energy market.

 

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.

 

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.

 

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.

 

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.

 

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.

 

 

To find the best gas deal for you, don’t hesitate to contact us by phone or email on:

 

Phone: 01925 599 201 

Email: info@telecomsolutionsltd.co.uk

 

Head on over to our business energy solutions page for more information.

 

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