When you're looking to move energy provider, there's a lot you have to take into consideration.
Which supplier do you choose? Do you opt for dual fuel energy or select different providers for gas and electricity?
The most critical choice… Whether you go for a fixed rate or flexible energy contract.
It can be hard to know which type of contract will bring you the most benefits, especially given how unpredictable the energy market has been over the past few years.
In this article, we'll explain what flexible and fixed tariffs are, the advantages of each, and which one you should opt for.
A flexible (or flex) energy contract allows you to buy energy in small, frequent increments.
This means you can take advantage of when the market price is low, saving money.
It's important to note that with flexible contracts the market price can go up as well as down. This means if you don't time it right, you can end up paying more for your gas and electricity.
You also need to regularly assess market conditions and adjust your energy purchasing strategy accordingly.
A fixed energy contract lets you lock in a set price for your energy consumption over a specific period.
This timeframe can be a few months to several years, depending on your supplier and the tariff you opt for.
Fixed energy contracts provide a shield against market volatility, but if the price of energy drops, you're stuck at the agreed-upon rate.
· They help you save money. By capitalising on market dips, you can secure energy at much lower prices
· They offer more control. You can manage your energy use and cost withlaser precision
· They're sustainable. You can choose renewable energy sources when they're most cost-effective, meaning you can stay environmentally friendly while managing costs
· They offer stability. If the price of energy goes up, you have peace of mind
· They're financially secure. If you have a tight budget, you know exactly what your energy bills will be
· They let you plan ahead. Decision-making becomes a lot easier when you have a stable foundation for your energy costs
An advantage of both tariffs is that there's lots of customisation.
With a flexible contract you have complete control over your approach to purchasing energy.With a fixed contract, you can choose from a range of durations, meaning you can select the timeframe that best suits your business goals.
It depends on your business's budget and needs. It's important to consider what's most valuable to you, not just now, but in the future.
We recommend choosing a flexible tariff if:
· You want to save money
· You have the resources to monitor and respond to energy market changes
· You want to take advantage of sustainable energy sources
We recommend choosing a fixed tariff if:
· You want tight control of your budget
· You don't want to suffer the risks of marketvolatility
· You don't have the time or expertise to manage a flexible contract
It can be tricky to decide which tariff to go for.
You might love the idea of buying energy in small amounts to save money. However you might also love the idea of knowing how much you'll pay each month for the whole of your contract.
Our team of experts can help you choose the perfect contract for your needs. We'll assess your existing energy use, closely work with you to understand your goals, and get you the best deal on the market.
And it doesn't stop there. Your dedicated account manager will work with you throughout the course of your contract, making recommendations to help you save money and become more sustainable.
If you opt for a flexible contract, we'll even advise on the best time to buy your energy, meaning one less thing to worry about.
Get in touch today to find out more. You don't need to be at the end of your existing contract to take advantage of our services.