Business electricity prices!

[cheekymeerkat]

Yikes.

My electricity contract ends 28 Feb with British Gas and my broker is pressuring me to signing a 1/2 year now to shield myself. I only ever do 1 years but wish I did 2 now.

He's quoting BG standing charge £2/day + 35p kwh. That's twice my current tariff. so from around £3k to £6k per year.
There is a cheaper one by £400 but I've never heard of them.

What do you think, wait or book a contract now?

[Mr Overheads]

Definitely wait. Market is currently pricing in unknown cold winter. If it's mild or warm then prices will drop off.

Also ask your broker how much commission is built in. They should declare it when asked.

[skwdenyer]

cheekymeerkat said:

Yikes.

My electricity contract ends 28 Feb with British Gas and my broker is pressuring me to signing a 1/2 year now to shield myself. I only ever do 1 years but wish I did 2 now.

He's quoting BG standing charge £2/day + 35p kwh. That's twice my current tariff. so from around £3k to £6k per year.
There is a cheaper one by £400 but I've never heard of them.

What do you think, wait or book a contract now?

Ouch at those prices. I'm going to be out of contract soon - I'm currently on <14p / kwh, so I fear trouble ahead

[vulture1]

Personally I'm waiting as lots have spiked up to a crazy level now and will likely crash down. Russia is already going to be filling our gas reserves now and suspect prices will come down from the crazy level. All imo