Business Electricity prices

Madaleelee

Im a newbie here so dont know if anyone can help or offer advice.  My family run a small retail business.  Our currect business energy contract (Electricity only) runs out in the Autumn.  Our current contract costs us around £5K pa.  All of the new contracts which we have been offered will cost us around £25K pa and the companies all want a 3-4 year contract.  This is unaffordable and surely anyone would be stupid to sign a long term contract when the prices are so high at present.  Any advice would be gratefully received. 

Robin9

The only contract I've been offered is 7 months

Standing Charge: £2.13 per day 
Unit Rate: 36.0210p per unit 
Start Date: 01/03/2022 
End Date 30/09/2022 


Standing Charge: £3.59 per day 
Unit Rate: 9.7362p per unit 
Start Date: 01/03/2022 
End Date: 30/09/2022

Verdigris

Unfortunately business energy contracts are not capped. The figures you quote make uncomfortable reading with regard to energy prices generally.

If the premises are owned by the business it might be worth looking at fitting solar panels, to generate at least some of your consumption. Alternatively, storage batteries, that could charge up overnight on off-peak electricity, to be used during trading hours might be worth investigating. You could integreate both systems if the property is owned.

an1179

I have been offered 3 year contract
39.35p a day standing charge
33.43p per kw 
start date 1 December