Business Renewals

Will Brexit affect energy prices?

Brexit

The one word nobody has been able to escape from over the last two years is Brexit. Regardless of the way you may have voted it is clear that both the public and business sectors are still very much divided with emotions on both sides strong.

So how is Brexit going to affect wholesale energy prices?

Business Renewals concentrates in providing small to medium businesses with a comprehensive platform where energy suppliers can be quickly and easily compared with transparency and fairness our keys in unlocking the best results for our clients.

Whilst we fully understand wholesale energy markets and we have vast amounts of industry experience we don’t claim to have a crystal ball and anybody who does “guarantee” wholesale prices increases are simply stating an opinion and most certainly not a fact. Let us give you two very quick examples of how “experts in their field” have got things completely wrong regarding Brexit and the effects that it has had to date:

2017 GDP Forecasts – made in August 2016
UK Treasury 0.2% Growth
Barclays 0.4% Decline
Credit Suisse 1.0% Decline
Nomura 1.3% Decline

Despite the “experts” forecasts GDP actually rose by 1.7%.

Employment Forecasts after Brexit Vote
Employment figuresA picture speaks a thousand words.

Finally, the latest OECD data shows that the UK is the third fastest growing G7 economy in 2018 ahead of France, Italy and Germany – now who would have thought that with all the doom and gloom?

Moral: There are no experts when we venture into the unknown.

Make your energy choices based on what works for your business needs. If you see an attractive and acceptable longer term fixed offer of 3 or 4 years and are happy locking in to provide protection then do it. Think very carefully over what the “experts” claim to be facts and use your own judgement to make decisions.

The only real fact is that your opinion is as valid as theirs.

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