Energy Prices have dropped significantly from late 2022!
If you agreed an energy contract from August 2022 to the end of the year, you would have agreed prices when the market was it its highest! While you will be receiving a discount on your agreed rate up to 31/03/2023 under the Energy Bill Relief Scheme, this is set to be replaced by the Energy Bill Discount Scheme from 01/04/2023.
Discounts are set to reduce dramatically to under 2p/kWh for Electric and under 0.7 p/kWh on the Gas! This means that from April, your bills will increase dramatically until your contract ends!
Example:
Electric customer uses 50,000 kWh a year
Contract agreed to start on 01/11/2022 with the Unit Rate of 70.00 p/kWh
You currently get a EBRS discount of 32.25 p/kWh
Currently paying 37.75 p/kwh up to 31/03/2023.
Annual Cost (with Discount) is £18,875.00
From 01/04/2023 your new Discount is changed to 1.961 p/kWh
You will now be paying 68.039 p/kWh until the end of your contract!
Annual Cost (with new Discount) is £34,019.50
From January 2023, the energy market has dropped significantly so current prices available to what you may be paying could have saved you thousands!!
While it may not be a financially viable option for all customers, it may be worth speaking to your current supplier to request what your Exit Fees may be to terminate the contract from 31/03/2023. We can then provide you with renewal quotes from 01/04/2023 to give you an idea of future costs.
If the amount you will save is more than your Exit Fees, it will be worthwhile!
Exist fees will differ from supplier to supplier and site to site so you would have to contact your supplier to check what your costs may be!
Contact us to see what prices are available now in comparison to what you agreed to see what you could potentially save!
0151 459 3388
