The energy market has remained relatively stable this year, with prices trading at an 84% decrease from when they peaked in August 2022 and healthy European Storage levels sitting at almost 20% above the capacity they were at last year.
There are a few reasons to fix energy prices until 2024, from financial forecasting and securing cheaper energy rates. Some suppliers offer cheap one-year fixed tariffs. If you are on a variable tariff and find a business energy supplier offering a better price on a fixed business energy tariff, we recommend fixing it until 2024/2025.
Out of contract rates are more expensive because you haven't laid out how long you plan to purchase energy from your supplier. Suppliers buy their supply from wholesalers in advance and use the terms of businesses' contracts to draw up how much they'll need to buy. If suppliers see that half of their customers are on these rates, they will...
The cheapest time to charge an electric car is usually overnight when electricity rates are lower. Some energy providers now offer EV-focused tariffs that can cut costs even further. These are usually dual-rate, where electricity is cheapest overnight when your EV is charging, or single-rate – i.e., the same rate is paid throughout the day, but...
Business energy is considered to be cheaper than domestic energy. This is because business energy is sold in higher volumes to businesses due to their high consumption as compared to energy consumption by domestic users. Businesses pay a lower per unit price for energy, largely due to volumes and economies of scale. However, businesses often use...
VAT is normally charged at 20% on business energy. However, in certain circumstances, a business energy customer can qualify for a reduced VAT rating and only needs to pay the domestic rate of 5%. Paying a reduced 5% VAT on your business electricity and gas depends on what industry your business operates in and what's done on the premises. ...
"Carbon neutral" and "net zero" are two terms that are often used interchangeably, but they have slightly different meanings.
Green energy is any energy type that is generated from natural resources such as sunlight, wind or water and tidal power. It often comes from renewable energy sources although there are some differences between renewable and green energy. Green energy is often known as renewable because it is generated without using finite resources. It can be used...
An energy broker is an intermediary between energy producers and consumers who works on a contractual basis to lower the cost of energy for their clients. Energy brokers do not own or distribute energy but buy and sell energy services from suppliers and negotiate pricing and contract terms. They may also offer consulting services, such as auditing...
There are several ways to cut business energy costs. One of the best ways is to reduce the amount of energy your business uses. You can conduct an energy audit to identify areas of your business where energy use is having a negative financial impact on your company. By assessing the needs of your employees and customers when it comes...
