Much like a fixed rate mortgage, fixed rate business energy means that prices remain at a fixed rate for the duration of the contract, regardless of any increases – or decreases – by business electricity suppliers. Business gas prices and business electricity prices will stay frozen, and can help businesses save money on their utilities. Here’s now a fixed rate plan could help your business:
By knowing how much business energy will cost each and every month, businesses can budget more accurately, allocating resources to vital areas for growth such as digital marketing and promotion.
Businesses are given peace of mind that increasing prices won’t affect their business, allowing them to grow and develop the business – through new hires, for example – with financial confidence.
The good news for businesses is that most major business electricity suppliers offer fixed rate plans, so prices can be competitive. Compare business energy online to find the best deal on the market.
Many business electricity suppliers that offer fixed rate business energy will provide a choice of contract length, often between one and three years. For small businesses and start-ups, a shorter contract may prove to be the better option. As these businesses are the most likely to grow and develop at accelerated rates and have much faster-changing needs than larger, more established businesses, a short contract means that these businesses can switch plans or providers based upon their evolving requirements.
For larger businesses, longer term contracts for fixed rate business electricity might be advantageous. Fixed rate price plans are similar to price freezes that were popular a few years back, and, with energy prices expected to rise over the next few years, locking into an attractive price now can bring big financial benefits in the future. Fixed rate plans can provide businesses with added security at a time when the industry could realistically go either way.