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Business Energy Costs Post-Brexit


North West businesses need to act quickly to secure their energy prices, before Brexit cost increases

With the UK set to leave the EU at the end of March, Manchester-based business energy switching company Switch My Business is urging UK businesses to take immediate action to find a better energy deal and to secure your energy prices to avoid post-Brexit volatility.

With only weeks to go until the UK officially leaves the EU, there is mounting evidence that energy prices will become increasingly volatile and are likely to rise significantly post-Brexit.

The UK is dependent on energy imports from the EU.  Over 40% of our gas supply comes from European pipelines, while 5%-6% of our electricity comes from France, Holland and Ireland, leaving us vulnerable to increased pricing post-Brexit. Last month a House of Lords committee warned that trading outside of the EU’s internal energy market would be less efficient than trading inside it, with the result that businesses and households could be forced to pay more.  

 

  • Energy prices expected to increase significantly when the UK leaves the EU on 29 March 2019.
  • The UK depends on EU energy imports, which are likely to increase in cost post-Brexit and push up energy bills for UK businesses.
  • Switching to longer, fixed-term energy rates is recommended to counter anticipated post-Brexit energy price hikes.

 

Regardless of whether the UK leaves with a deal or not, there are mounting concerns that energy prices will increase following the March 29, 2019 deadline.

Commenting, Stephen Henry, Chief Operating Officer at Switch My Business stated: “Whatever the final deal the UK manages to obtain to leave the EU, the end result is that we are likely to be peripheral to EU energy markets, which is likely to lead to higher prices and more unreliable supply.”

“Brexit is clearly a cause of concern for many businesses; we have seen a marked increase in customers switching energy suppliers to find a better deal and also an increased desire to secure prices, typically with three-year contracts”

While there is still a great deal of uncertainty surrounding Brexit, for most businesses, there is a simple way to ensure that you save money and protect against future rising costs. Switching energy supplier saves the average business £1,270 but finding the best deal can be complicated and time-consuming. With more than 15% difference between the top 20 electricity deals and almost 50% difference between the top 20 gas prices for the average UK business, companies need to work with a trusted partner to help them secure the right deal.

Switch My Business is the UK’s most trusted energy broker on Trustpilot with a score of 9.8/10 from over 1,500 reviews and have saved customers more than £55m with more than 43,000 meters successfully switched.

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Excellent, / 10

Jack Coyle was very helpful and…

"Jack Coyle was very helpful and efficient. Thank you"

This review was posted by Krista Tutin on the 21st of October 2020

the best service agent for switching…

"the best service agent for switching electricity"

This review was posted by Ultimate Craft on the 21st of October 2020

Big saving everyone

"Big saving everyone. I recommend this company 100%. A big thank you to Cheryl my business manager she’s amazing."

This review was posted by HARMEET SINGH on the 20th of October 2020

Awesome service

"Awesome service. Potentially saved my business over 4k over the next 3years! Brilliant."

This review was posted by Kat Banks on the 16th of October 2020

5 star service

"My account manager is Cheryl and she has made switching utilities so much easier. I never feel rushed to making a decision or feel any pressure. She offers great advice and explains everything so I completely understand. I first used Switch My Business a few months ago and because of the service I received, they were the first call for my current renewal. I highly recommend them."

This review was posted by Kerri on the 13th of October 2020