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Navigating Volatile Energy Markets: When and Why to Renew Your Business Energy Contract


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Timing, Trends, and Trust: The Smart Approach to Renewing Your Business Energy Contract


The volatile energy market can make the decision of when to renew your business energy contract a nerve-wracking one. But fear not—armed with the right insights and a customer-focused approach, you can navigate these turbulent waters. Here’s how.


The Seasonal Sway: When Should You Renew?

Seasonal trends have always played a significant role in energy pricing. Typically, prices tend to be lower during the summer months and higher in the winter. However, it's crucial to note that this is a general pattern, and numerous factors can disrupt it. The past 36 months have been particularly volatile, with global events such as the COVID-19 pandemic, the Russian war, and the Cost of Living Crisis creating ripple effects in the energy market meaning that market movements haven't exactly followed usual trends.


Keeping Up With Market Insights

Our regular market reports offer a valuable resource for staying ahead of the curve. These reports provide a comprehensive overview of energy prices, seasonal trends, and other influential factors. By keeping up-to-date, you’re better positioned to make an informed decision on your energy contracts. You can view the reports on a Daily, Weekly, or Monthly Basis.


Is it Always Cheaper in the Summer?

While it's generally true that summer often offers lower energy prices, the past few years have proven that we should always expect the unexpected. In a classic supply-and-demand scenario, prices tend to rise when demand outstrips supply. This is particularly true in winter, when both businesses and residential customers use more energy due to shorter daylight hours and colder temperatures. If the nation faces an undersupply of energy, prices will likely be inflated.


What Martin Lewis Says About Price Drops in October

The renowned financial expert Martin Lewis has confirmed that energy prices will drop in October. While his expertise is valuable and accurate for the residential energy market, it's essential to differentiate between the residential and business energy markets. The business market operates on live market movements, which means it can be more volatile and subject to immediate changes. In contrast, residential prices are usually more stable as reviewed at set intervals, taking into account what has happened in the wholesale market over the last quarter.


Taking a Gamble: Predicting Market Movements

When it comes to renewing your business energy contracts, unless you're a clairvoyant like Mystic Meg, predicting market behavior will always be a gamble. We all want the most cost-effective rates, but the best time to lock those in can only be determined in hindsight. That's where The Smart Energy Company comes in—we're committed to providing you with the most up-to-date, transparent information, helping you make the best decision possible.


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Why Choose The Smart Energy Company?

We at The Smart Energy Company put a premium on building client relationships over meeting monthly sales quotas. If the market shows signs of dropping, we'll advise you to wait. When it's surging, we provide daily updates to help guide your decision-making process.


Be cautious of other brokers who might use market conditions as a scare tactic, pressuring you to make snap decisions that may not be in your best interest. Remember, it's YOUR business, and the decision should always be yours. Our role is to provide expert advice and the best service packages, helping you navigate through market volatility.


The Bottom Line

Renewing your business energy contract is not just a routine administrative task; it's a significant decision that impacts your operating costs and, ultimately, your bottom line. In these uncertain times, guidance from a client-focused energy broker like The Smart Energy Company can be invaluable. We're here to provide timely market insights and unbiased advice, ensuring you get the best energy package suited for your needs.


Never feel pressured into agreeing on a contract—your business, your rules. But with our help, you can hopefully make the most informed decision, no matter how the market behaves.

Or get in touch on 0151 459 3388 | info@smart-energy.uk

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Keep Up To Date With Market Updates

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Securing your next energy contract at the optimum moment is essential for fully realising your savings opportunities. Provide your details below to gain access to weekly market updates, giving you the advantage to make informed purchasing decisions at the right time.

 

Bid farewell to aggressive sales approaches from other brokers and take charge with confidence!

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Have More Questions?

  • Is it possible to change multiple business utilities at the same time?
    Our switching service allows you to switch multiple utilities simultaneously. We have successfully assisted multiple businesses in the UK by helping them save on various services such as energy and water with savings within 2023 already over the £2 Million mark.
  • How much can I save on my business utility bills?
    The amount you can save on your business utility bills will depend on various factors such as your current usage, the rates offered by different providers, and the specific deals available in your location. However, our switching service is designed to help you find the best deals and save as much as possible. By comparing multiple suppliers and negotiating competitive rates, we aim to maximise your potential savings. Get in touch with us to discuss your specific needs and get personalised information on potential cost savings for your business utility bills.
  • How does switching business utilities work?
    Switching business utilities involves a straightforward process. Here's a general overview of how it works: Evaluation: Start by assessing your current utility bills and usage patterns. This will give you an idea of your current costs and help identify areas where savings can be made. Comparison: Use a switching service like ours to compare different utility providers in your area. We provide you with quotes from multiple suppliers, allowing you to compare prices, contract terms, and services offered. Selection: Based on the comparison results, choose the utility provider that best meets your needs and budget. Consider factors such as price, customer reviews, contract terms, and any additional services or benefits offered. Contract Negotiation: Once you've chosen a new provider, our team can help negotiate the contract terms and rates on your behalf. Switching Process: The switching service will coordinate the transition with your current supplier and the new provider. This may involve submitting termination notices, arranging meter readings, and scheduling the activation of new services. Enjoy the Savings: After the switch, you'll start receiving services from your new provider, typically at the agreed-upon rates. You will notice savings on your utility bills, providing you with cost advantages for your business. Remember, the exact process may vary depending on the type of utility you are switching, but our switching service aims to simplify the process and assist you at every step.
  • Who are the cheapest business utility providers?
    As market conditions and prices fluctuate regularly, it's challenging to provide an up-to-date and definitive list of the cheapest business utility providers. The prices we provide you are valid and available on the day of the quote and will provide most current and competitive deals available. Our switching service helps you compare prices and offers from multiple suppliers, ensuring you have the most accurate and relevant information to make an informed decision about your business utility provider.
  • What is energy procurement?
    Energy procurement is the process of sourcing, negotiating, and securing energy contracts to meet the specific needs of a business. It involves analysing energy consumption patterns, understanding market trends, and negotiating with suppliers to obtain the best possible rates and contract terms.
  • Why is energy procurement important for my business?
    Energy procurement ensures that your business secures energy contracts that are both cost-effective and aligned with your operational needs. Proper energy procurement can lead to significant cost savings, budget predictability, and reduced risks associated with volatile energy markets.
  • How does The Smart Energy Company help with energy procurement?
    We specialise in analysing your energy consumption, understanding your specific needs, and leveraging our relationships with over 20 suppliers to negotiate the best possible contracts on your behalf. Our team ensures you get optimal rates, flexible terms, and contracts that align with your business goals.
  • How do you ensure I get the best energy rates?
    Our team continuously monitors the energy market, staying updated with trends, price fluctuations, and supplier offerings. Coupled with our in-depth analysis of your energy needs and consumption patterns, we negotiate with suppliers to secure rates that are both competitive and suited to your business.
  • Are there any hidden fees associated with your energy procurement services?
    Transparency is a core value at The Smart Energy Company. We provide a clear breakdown of any commission we earn as a company when you come to agree any new energy contract. This is typically included as an uplift in your unit rate and paid to us by the supplier you chose to go to. Our primary goal is to secure the best energy deals for you, with no hidden costs.
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At The Smart Energy Company, we're committed to offering tailored solutions that fit your energy needs perfectly. By staying ahead of market trends, we ensure you're always equipped with the most efficient and sustainable energy options. We take pride in our client-driven approach, where your feedback shapes our continuous improvement.

 

Why not schedule a complimentary consultation with one of our energy experts today? Let's find the perfect energy solution tailored to your business.

See What Our Clients Say About Us

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Very helpful, quick expert advice. We have been using Smart Energy for a while.

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Ian Hughes

Operation Manager

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