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Business Energy Contracts During Covid-19 Breakout

If you are a business owner there’s a good chance you may already be counting the cost of the COVID-19 pandemic – particularly if you’ve temporarily closed. The last thing you need is the prospect of electricity and gas bills you cannot afford adding to the pressure. Various financial incentives from government and from energy suppliers are available to businesses to cope during this crisis.

The corona virus or Covid-19 will not impact security of supply as generation and supply of electricity and gas come from various sources. So, there is very little risk that the light or heating will go off during this pandemic. However, as many businesses, especially those in hospitality and entertainment were closed temporarily, they may face some financial difficulties, despite various government backed financial help schemes. One of the main difficulties, businesses are facing during this crisis were; difficulty paying their employees and their energy bills. Also, with lesser work force, business energy suppliers are struggling to answer customer queries as fast as it used to be before Covid-19.

Our Advice

  • Keep submitting electricity and gas meter readings to your energy suppliers either through their website or through their mobile app as this will help them send you accurate electricity, gas and water bills. Especially, if your business is closed and there is no energy consumption at your site, your monthly payments or billing may go to zero, giving you some breathing space during this crisis.

  • If you were paying your energy bills via direct debit or if you have monthly payment plans, do not stop the payments, as it may affect your credit score.

  • Keep an eye on the expiry date of your energy contracts and don’t let your energy supplier rolls you over to a new contract with higher prices.

  • During this period, most of the energy suppliers are not taking new business customers, so if your contract is up for renewal, try to negotiate a good tariff with your current supplier.

  • Business electricity and gas prices are at its lowest level these days and if you have negotiated a contract with an energy supplier, make sure to check out the prices from other energy suppliers or use our online price comparison tool to see the prices offered by most of the energy suppliers.

  • If you are facing difficulty paying your electricity, gas or water bills, contact your energy supplier immediately to discuss the situation as they may be able to help you out with various options; including defer payments of bills or arranging a payment plan.

Stay safe everyone

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