During the last year, many homes and businesses have been affected by rising costs, from food and mortgage rates to energy and clothing.
Last month (23 February 2024) we saw domestic energy prices fall to their lowest level in over two years with the price cap drop. But how does this impact business customers?
Absence of price caps for businesses
Contrary to the domestic sector, the business sector does not have a price cap and is not impacted by it. Without the price cap, business energy suppliers actively compete to gain customers.
Here are five tips businesses can use to navigate the energy landscape effectively:
- Don’t be misled by the domestic price cap: As business energy isn’t impacted by price cap changes, you should not expect business energy rates to change in line with it.
- Explore the market prices: Researching different suppliers’ tariffs and contract lengths can help businesses identify the more cost-effective option suited to their personal energy needs.
If you are looking for competitive energy prices for your business, get an instant quote from Valda Energy here.
- Guarantee energy costs with a fixed rate: While energy prices can go up or down, locking in with a fixed rate contract will guarantee you a consistent price for your energy and stability.
- Embrace energy efficiency: Swapping to more energy-efficient technologies and practices can not only reduce costs but is also more sustainable, contributing to long-term savings and being more environmentally conscious.
- Explore smart meter technology: There are several perks to smart meters for your business. Some of the benefits include more accurate billing, the ability to see your energy usage patterns to make energy-efficient improvements and no longer needing to submit meter reads.
If you are a Valda Energy customer, you can book a free smart meter installation today.
