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Act Now for Cheaper Business Energy: Navigating the Market

Updated: Jul 31, 2023

Understanding the Current Energy Landscape

In the world of cheaper business energy, understanding the market's ebb and flow is crucial. Recent market shifts could be your golden opportunity to secure affordable business energy

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The Impending Impact of Norwegian Gas Facilities Maintenance

One key factor to consider is the scheduled maintenance of Norwegian gas facilities in August. These facilities play a vital role in supplying gas to the UK, and their temporary shutdown could lead to a spike in energy prices. For businesses seeking cheaper business energy, this is a development to watch closely.

Recent Market Fluctuations: A Lesson from June and July

Interestingly, we've already seen a preview of this impact. Despite having a healthy amount of storage in the UK, the market experienced increases when the Norwegian facilities had outages during the months of June and July. This happened after a steady decline in prices from January 2023 onwards. It's a clear demonstration of how sensitive the market can be to changes in supply, even when storage levels are robust.

Take a look at the graph below. It clearly illustrates the price fluctuations we experienced during the June and July outages at the Norwegian facilities. Despite having a healthy amount of storage in the UK, the market reacted to the reduced supply, underscoring the sensitivity of energy prices to changes in supply. This visual representation underscores why now is the time to act for securing cheaper business energy.

6 month wholesale market updates

The Uncertainty of September: What to Expect

Once the Norwegian facilities are back online in September, it's uncertain how quickly they'll ramp up production and what impact this will have on prices. For those seeking cheaper business energy, this period of uncertainty could present both challenges and opportunities.

The Winter Effect: Rising Demand and Dropping Storage Levels

As we transition into the colder months, energy demand typically increases. The darker nights draw in, businesses and households alike use more energy, and our storage levels drop. This increased demand often leads to a rise in energy prices, making cheaper business energy harder to secure.

Increase in energy demand

Why Now is the Ideal Time to Secure Your Energy Contract

Given these factors, if your business has a contract due between now and March 2024, this period of uncertainty could significantly impact your ability to secure cheaper business energy. While we can't predict with certainty what will happen in the coming months, we can say that now may be the best time to lock in cheaper business energy rates.

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How The Smart Energy Company Can Help You Navigate These Uncertain Times

At The Smart Energy Company, we're committed to helping businesses navigate these uncertain times. We can provide expert advice on your energy contract and help you secure the best possible prices. Don't wait until it's too late - contact us today to find out how we can help your business secure cheaper business energy.

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


Ian Hughes

Operation Manager

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