As we are coming towards the busy Winter period with many businesses renewing their gas and electricity contracts there has been little positive developments with energy suppliers reducing their credit and industry requirements for businesses and many suppliers are choosing only to renew their current portfolio giving customers a choice of either higher renewal rates or forcing them into shopping around for the best deals.
As wholesale prices have increased in 2021 we are starting to see some of the smaller residential suppliers leave the market due to large debt exposure and their limited capacity to purchase in advance leaving them at the mercy of the current high market rates. On the positive side, some suppliers have now returned their longer term contract offerings and in some cases we are seeing market backwardation whereby longer term contracts are cheaper than shorter term.
As Business Renewals operate on a fully impartial basis we can still find exceptional deals for our clients even in these uncertain times.
The main sectors that are currently being affected by suppliers sector criteria are
- Guest Houses
If you are in any of the above sectors please contact us for a discussion as supplier options maybe limited and those who do provide quotes could build in a very large risk premium that you may not have to pay.
Through our relationships Business Renewals can still gain access to market leading rates regardless of your credit score or business type and we would like to help.