Planning for the future and predicting what may be coming isn’t an easy task but doing so can help a business financially. Preparing for an increase in costs by knowing when to set higher sales targets and push new marketing campaigns is an element of business that keeps things moving in the right direction. Without financial planning and forecasting a business can quickly find themselves in choppy waters.  Part of any financial planning should be expenses. Part of your expenses each month are your utility bills, of which your energy bills will be some of the biggest. If you run a small business and are directly involved in the payment of your energy bills each month, this blog may help shine some light on how to plan for fluctuations in energy costs and what you can do as a business to predict said fluctuations.    See your average spending with a business smart meter  A smart meter is a really useful tool for not only helping you track your energy usage but also predict how much energy you use on average during various points in your working day. Plus, reviewing the data from your business smart meter will help you identify months in the year where you may be spending more on energy and allow you to make predictions about upcoming months. Of course, this won’t give you an insight into energy wholesale prices or the costs associated with your particular provider, but it helps to give a good idea of what you could be using and spending on average.    Protect your business from volatile energy markets  Now more than ever it has become apparent just how quickly things can change for bill payers. Rising wholesale prices have led to a global energy crisis, hitting business and domestic customers hard. However, for those locked into a fixed-rate contract the impact of this is cushioned by the protection of the consistency of monthly bills. This is because a fixed-rate contract provides a locked-in rate per kilowatt hour.  By securing yourself into a fixed-rate contract with an energy provider, you can help to protect your business from the vulnerability of fluctuating energy markets. Which will allow you to make better predictions for your bills each month, particularly if you manage your energy consumption and use a consistent amount per hour, per day.  At D-ENERGi we offer fixed price electricity deals for business customers so you can know how much you will be paying on your monthly bill, with no nasty surprises! With this deal you can take the worry out of predicting your spending each month, with a direct debit that makes things hassle free! Give us a call today for your free quote.

The 15th March 2023 brought the release of the new Spring Budget by the freshly appointed chancellor, Jeremey Hunt. This release has brought Hunt’s first budget as chancellor, laying out the government’s plan for tax and spending policy. Plus the OBR (Office for Budget Responsibility) have published their updated economic forecasts for the next five years.  After a tumultuous few years and even some months and weeks, the release of the budget has been heavily anticipated. Particularly as businesses wanted to know how they will continue to be supported and what may impact their spending over the next year. As many of our business energy customers are small businesses, we have provided this short summary of the spring budget, focusing on what was mentioned regarding energy prices and business taxation.    Confirmation of the Energy Bills Discount Scheme  One of the most important parts of the spring budget for energy suppliers and our customers is the confirmation of the Energy Bills Discount Scheme. This has been confirmed as a replacement for the Energy Bills Relief Scheme, which will come into effect on the 1st April. This scheme is specifically in place for non-domestic gas and electricity customers and will offer support for the next 12 months. For more details on this, we have written a useful blog for our customers here. On top of this it has also been confirmed that the Climate Change Agreement Scheme will be extended until March 2025. This provides eligible businesses with business tax relief for the implementation of energy efficiency measures.    Predictions for energy prices by the OBR   Thanks to the latest forecast by the Office For Budget Responsibility which was published alongside the new budget, we have some idea of what may happen to energy prices over the next year. As part of their fiscal forecast, developing on their previous forecast in November, the OBR have stated ‘Wholesale gas prices have more than halved over the past six months and are expected to fall further over the forecast.’    Corporation Tax Increase The Chancellor has stated that the main corporation tax rate will increase for businesses from 19% to 25%, this will take effect from 1st April 2023.  In regards to capital allowances, the Government has also announced that the 100% first-year allowance for qualifying expenditure on electric vehicle charge-point equipment will be extended until 31 March 2025 for corporation tax, and 5 April 2025 for income tax. This measure is intended to continue to encourage the uptake of equipment for charging electric vehicles. Meaning businesses can incorporate this into their sustainability measures and goals with tax relief benefits.

Switching your business energy supplier doesn’t have to be complicated but timing can make a big difference.  In this latest blog we will discuss when the best time to switch energy suppliers is and explain why some moments are better than others.   The best time to switch supplier  The ideal time to switch to a new energy supplier is when your current contract is coming to an end. This is the easiest time to switch as you are not locked into a contract with any supplier. Your current supplier should have contacted you to let you know that your current contract is coming to an end, requesting that you let them know your decision, either to stick or to switch. Switching to a new supplier is often recommended to ensure you continue to pay the best and cheapest prices for your business energy. Choosing to remain with your current supplier by simply rolling over your contract may also mean that you are automatically placed onto a rollover contract with higher rates. Whether you opt to stick or switch you should always discuss your options, guaranteeing you are getting the best price.   Is it possible to switch supplier mid-contract? It is possible to end your contract early, however most energy providers will have an early exit fee. Your bill or online account will inform you of how much this exit fee will be. Typically you will only avoid paying an exit fee if your contract is set to end in less than 7 weeks. To determine whether this is truly a good idea, it is best to work out if you would still save money by switching even if you have to pay an exit fee and do your research into your new supplier before switching.  You should also make sure that your new supplier can provide you with the services you require. For example, you may currently have a business smart meter. If you want to continue using this you should check if the new supplier can offer the same.   Reasons to switch energy supplier There are many reasons why you may wish to switch business energy suppliers. Some of the most obvious include wanting a better price or customer service. Or you may have simply come to the end of your fixed contract. However some businesses may be making the switch for more complex reasons.  For example, some businesses have decided to switch to renewable energy suppliers in a bid to cut their carbon footprint. As the mentality towards the environment and renewable energy shifts, it is expected that more and more businesses will follow suit in the next few years. Demanding that energy suppliers meet these new requirements of their customers.   Switching to D-ENERGi for business energy  If you are considering switching to a new business energy supplier, consider D-ENERGi as your first choice.  The team here is dedicated to supporting all our customers, old and new, in sourcing the very best business energy deals. Not only that but all electricity we supply is sourced from wind farms across the UK, making us a great choice for companies looking to enhance their approach to sustainability.  To find out more about what we offer, contact our team or take a closer look at our products.