To Renew, or Not to Renew

It’s been hard to avoid the news concerning the ever-increasing energy prices. Whether caused by the war on Ukraine or the recent heatwave, it’s impossible to predict what will happen and unfortunately, we do not foresee an improvement anytime soon.

Many businesses are holding out for a dramatic downturn in the market and leaving their contract renewals as late as possible.

There is no sign of this happening and prices have continued to increase throughout the summer risking further price rises as we move into the autumn.

By delaying business contract renewals there is the risk of a September spike or failing to contract in time and facing the penalty of even higher “out of contract” rates.

For these reasons, we strongly recommend contracting earlier within the window than later.