Brexit could result in dramatic hikes to business energy prices

Brexit uncertainty and all surrounding issues are causing stress for all UK consumers; private individuals and businesses alike. One issue that hasn’t been particularly highlighted by the UK government or tabloids is the possibility that utility costs could increase dramatically after Brexit.

Savvy business owners may want to think about the benefits of switching energy suppliers as one aspect of preparation for leaving the EU.

Why should I switch my business energy suppliers?

One of the concerns raised by some business experts is that utility prices could increase dramatically after Brexit. This will have a massive impact on businesses of any size, as operational costs and all-important profits will be impacted.

I don’t see why energy prices are likely to increase after Brexit

A good deal of the UK’s energy is sourced from the EU. After Brexit, our options for free trade in the EU will be cut and it’s likely consumers will see a lot of disruptions. This will impact on the energy market, too.

In worst case scenarios, it’s even possible that power cuts or outages could begin to occur. If this happens the UK economy is sure to be affected, as production levels will be cut and markets reduced. But, certainly, it’s likely that utility costs will rise. Utility price rises are likely as a result of cuts to cross-border gas and electricity trading and potential shortages, which all lead to considerable uncertainty across the entire energy marketplace.

What can my business do about this?

After giving due consideration to all the above implications, one way to prepare for potential disruptions in the energy market following Brexit is to switch suppliers. Take a good look round at what’s currently available and look for the best business gas tariffs, ideally at fixed rates

If you switch corporate energy suppliers prior to Brexit you stand a far better chance of fixing tariffs and arranging the best deals for your business. It’s easy to source business electricity and gas comparisons at Utility Bidder, so you can rest assured that your operational costs will not be immediately impacted after the UK quits the EU.

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