News / To beat Brexit uncertainty, fix your electricity contract now

To beat Brexit uncertainty, fix your electricity contract now

9th September 2019

The complexities – and uncertainties – of Brexit make it a minefield for all businesses. Although nobody, it seems, really knows what will happen after 31 October 2019, there’s one thing you CAN be sure of post-Brexit: your business electricity rates. Fixing them before the deadline means your prices won’t suddenly increase and you’ll have budget certainty for as long as your contract runs.

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With Brexit on the horizon, uncertainty seems to be the only thing we can all reply upon. To compound matters, UK electricity prices are still attached to Europe with around 5% of our electricity currently imported from the continent.

So, with the date for leaving the EU scheduled for 31 October, 2019, there’s a lot of uncertainty about what will happen to energy prices. What’s more, these concerns increase with the current ambiguity surrounding a ‘no deal’ departure.

If the UK severs its link to the EU internal energy market, it could lead to significantly higher prices. Lord Teverson, chair of the EU Energy and Environment Sub-Committee in the Houses of Parliament, said: “The Government has not been able to tell us what a ‘no deal’ Brexit would mean for consumers’ energy costs. It’s likely that they would increase because energy trading would become less efficient once the UK is outside the EU’s system.”

A Brexit-related fall in the value of the pound against the Euro could also have the effect of ‘raising’ the price of imported energy.

So, what can you do to protect your business from this increasing uncertainty, and the possibility of rising energy prices?

The first thing you can do is fix the price of your electricity contract.

Fixing your business electricity prices in advance gives you peace of mind for the duration of your contract. So, when the UK does eventually leave the EU, you won’t be worrying about your electricity costs (at least for a while).

Fixing also reduces the risk to your business, helps you manage your budget more effectively, and means you don’t need to monitor fluctuations in energy prices.

So, the sooner you decide to fix your business electricity prices, the sooner you’ll start to benefit from the extra security it brings.

Fix your business electricity costs by getting a quote now.

To find out how Haven Power can help you beat Brexit-related price increases, get in touch via our contact form.

Get a quote

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