As a business owner, you’ll no doubt always be looking out for ways in which you can cut your overheads.
Switching utility suppliers is a tried and trusted method, as is regularly shopping around for business insurance, telephone and broadband deals, along with offering employees the chance to work from home – an effective way to cut energy office consumption and cut out the daily commute. If you’re concerned about staff missing out on meetings, they can always keep in touch via conference call.
So far, so good – but there could be an unexpected price hike on the way, as it looks like Brexit could be about to push up your business energy bills.
Will Brexit push up your business energy bills?
With less than six months to go until the UK officially leaves leave the EU, there’s still an unsettling amount of uncertainty surrounding the terms of any potential exit deal, not to mention the implications any no-deal Brexit will have for businesses and households across the country.
But regardless of whether the UK leaves with a deal or no deal, there are mounting concerns that energy prices will increase following the March 29, 2019 deadline day.
A House of Lords committee has warned that the UK faces energy shortages and increased gas and electricity bills after Brexit, if the transition is not managed well1.
And, more recently, Energy UK, the industry’s trade association, has warned that uncertainty in the energy market, particularly around plans for a future carbon-pricing mechanism and the cross-border trade of electricity and gas are concerned, is creating risk and a cost pressure that will increase bills for business and domestic customers2.
How to avoid bigger, post-Brexit energy bills
There is a simple and effective way to beat any potential Brexit price hikes though, and that’s switching to a better energy deal to fix your prices in for as long as possible.
Making the switch with Make It Cheaper is a quick and easy way to find best energy rates for your business, and lock them in for up to three years. Simply switching supplier could cut your annual energy bills by as much as £1,027*
Jon Elliott, CEO at Make It Cheaper, said: “Brexit is of course a hot topic for any business in the UK, and means uncertainty around all business costs. Business energy is no different. Energy UK’s report highlights some of the causes of these likely rises and only goes to strengthen the case for switching soon for longer fixed term tariffs, securing rates for your business before they become too volatile.”