Will the domestic price cap rise impact businesses?

Article posted

30th Nov 2023

Read time

2-4 min read


Mollie Pinnington

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The unprecedented rise in domestic energy prices, particularly in January, could also impact businesses as well as households.

The relentless surge in energy costs over the past few years has been attributed to a complex interplay of factors, including supply chain disruptions, geopolitical tensions, and increased global demand. All these factors have left the market extremely volatile. With the lack of energy security in the UK businesses are left extremely vulnerable to price hikes.

For energy-intensive industries, such as manufacturing, transportation, and hospitality, the impact of rising energy costs has been particularly severe. These businesses are heavily reliant on energy to operate their machinery, transport goods, and provide services, making them disproportionately affected by the price hikes.

The consequences of rising energy costs extend beyond financial strain. Businesses are forced to make difficult decisions, such as reducing production, cutting staff, or raising prices. These measures, while necessary to manage costs, can have a detrimental impact on productivity, customer satisfaction, and overall business growth.

In the face of this energy crisis, businesses must proactively seek solutions to minimize the impact on their operations and finances. One effective strategy is to engage the services of an energy consultant. Energy consultants possess the expertise and experience to assess a business's energy consumption patterns, identify inefficiencies, and implement strategies to reduce energy usage and optimize energy costs.

Energy consultants can provide a range of valuable services, including:

  • Conducting energy audits to identify areas of energy waste
  • Recommending energy-efficient technologies and equipment upgrades
  • Implementing energy management systems to monitor and control energy usage
  • Negotiating better energy deals with suppliers
  • Educating employees on energy conservation practices

By partnering with an energy consultant, businesses can gain a comprehensive understanding of their energy consumption profile and develop a tailored plan to reduce their energy footprint and associated costs. The long-term savings achieved through energy optimization can significantly improve a business's financial stability and competitive edge.

The current energy crisis serves as a stark reminder of the importance of energy efficiency and sustainability. Businesses that fail to adapt to the changing energy landscape risk being left behind. By embracing energy-efficient practices and seeking expert guidance from energy consultants, businesses can navigate the challenges of rising energy costs and emerge stronger and more resilient.

If you're looking to save money on your energy bills then why not get in touch today? The relationships Resolve Energy has developed with over 24 of the UK’s biggest business energy suppliers allows our energy experts to source the best business energy rates available for your company right when you need them. Request a free quote today and start saving money on your energy.

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