What has your utility bill got to do with Brexit? Well, ordinarily politics has little effect on anything but your tax bill.
Brexit, on the other hand, is a political beast of an entirely different nature. And it’s that unexpected and unpredictable nature that people are finding difficult, no one quite knows quite what will happen when Brexit finally happens. Even the politicians seem at a loss. It is this lack of certainty that is creating a similar level of uncertainty in the realm of utilities.
Over the past 12 months energy prices have soared.
All the indications point to this trend continuing at an even greater rate. So the price increases in your energy bills are potentially going to be huge ones.
Why are the prices rising?
The uncertainty of what may happen in the aftermath of Brexit has caused people to be cautious about investing, so the GB pound has dropped in value compared to the Euro and the US dollar. This means that not only do we get a bad deal in buying our energy, we also get the short end of the stick when it comes to costs for transporting the energy too.
A whopping 60% of UK energy comes for the EU and Russia, so any further decreases in the value of the GDP, or any disputes of prices the UK pays for its energy once it no longer has the EU to help decide how much is fair to pay, will reflect heavily in our energy bills.
What can we do?
The simple answer is to get yourself a new deal.
The energy companies are all suggesting you tie yourself in for as long as possible to stabilise the price you pay on a monthly basis as much as possible. Ideally you need to be looking at 36 or 48 month deals, and to get it before Brexit actually happens, when the market is likely to go crazy.
And because they’re all wanting you to tie yourself in, there are some really competitive deals out there. Your quote won’t be valid for more than a few days though, so you’ll need to move quickly on any prices you’re offered, or have a new quote done.
We’ve made sure we’ve tied ourselves in for as long as possible with our own bills, because we’ve seen the trends over the last few months.
We’d love to help you with your business energy too. If you send us a copy of your bill and the date your existing contract runs out, we will be able to provide quotes offering you the best of what’s currently available on the market for your business.
And the best news is that you don’t even need to worry about whether or not you’re still tied in to your current energy contract because the energy suppliers have found ways around the problem without it costing you anything.