Despite the vaccines in the New Year, the UK population faced a pandemic due to coronavirus, and a third lockdown was implemented all over the country. The question to ask is what the position of the business energy landscape is now? How has it affected the prices of business energy? Let’s take a look at business energy insights-how 2021 is shaping up
Lockdown impact on consumption of business energy
As it is expected, consumption of business energy was much lower in 2021 if compared to the starting of 2020. Primarily, this is true in a retail business, where a significant dip in consumption was seen when the lockdown initially took place.
As businesses are attempting to navigate the landscape that is changed entirely due to lockdowns, there are chances of getting more surprises while talking about energy use. For this reason, it might be beneficial to look for the best electricity and gas business tariff so that you can get a quote.
The businesses who are taking all the necessary steps now for the implementation of a robust energy strategy are likely to be able to adapt to whatever is coming ahead.
What’s happening with business renewable energy?
The greenest year till now has been 2020 in the record and for the first time, renewable business energy broke the mark from 40% last year this time. However, we might inevitably see a drop in momentum.
Renewable generation makes 37% of the UK’s power if compared to 42% in 2020. Utility bidder can help you to compare.
The increase in gas is because of the loaded generators of gas due to the high demand for energy as the temperature was low. The power stations fired by gas are crucial in helping the National Grid balance the system, primarily through the BM, which offers unscheduled generation to get the mismatches right between demand and supply close to real-time.
Looking forward to 2021 ahead
As we have headed to the second quarter of 2021, there are no chances of energy prices getting slow down. So, if you are thinking of cutting the costs of your business with the help of efficient measures, get the perfect smart meter now if you don’t have one.
It’s the best and simplest way to keep a check on total energy use and identify where the biggest opportunities of saving energy lie.
But, is there any new development coming up that might affect the cost of your business energy? No doubt, the essential one is Ofgem’s Targeted Charging Review.
Some suppliers offering energy might change their way of pricing the energy contracts, so it is imperative to know what is happening when and how the cost of business energy might be affected.
What should be your strategy for the next business energy?
An increase in the price of energy along with the higher TCR costs that might affect certain contracts means this is the time to review your strategy. Everything from installation to renewable energy can help your business to lower business energy costs.
Experts can help in advising about planning and implementing the right strategy.