With current gas and electricity prices considerably lower than they have been for a number of years, lots of companies are securing significant savings on their energy supply.
If you are within 12 months of your contract expiry date, you can secure a new contract at today’s prices to begin when you reach your renewal date. Alternatively, depending on who your supplier is, there may be the opportunity to secure a lower rate sooner, using what is known in the industry as a ‘blend and extend’ contract.
Blend and extend contracts allow you to potentially secure a new lower contract rate for your supply to start now, on the basis you extend your agreement beyond the previously agreed contract end date. In effect, you start a new contract at a lower rate which will run for usually 2 to 3 years.
You should be aware that Blend and Extend contracts are usually priced slightly higher than the energy prices for new customer contracts, but lower than your current rate. So they are good for businesses which want to reduce their energy costs with immediate effect.
If you would like to discuss any aspect of your current or future energy supply, please get in touch on 01244 571830.