Should I Fix My Energy Prices Until 2025?

In 2023, we’ve witnessed a consistent decline in wholesale gas and electricity prices following the record highs experienced earlier in the year. In April 2022, the Energy Bill Discount Scheme (EBDS) was launched by the UK government, superseding the previous Energy Bill Relief Scheme (EBRS).

This new scheme aims to provide reduced-level support for businesses and other non-domestic customers. This has prompted many businesses to contemplate the value of securing a fixed business or domestic energy deal for 2025.

Our recommendation is if a better deal is available, it’s advisable to opt for a fixed energy tariff. Despite the decline in wholesale market prices, they remain significantly higher and are anticipated to rise in 2025.

The persisting challenges in energy security contribute to the volatility of the wholesale energy market, where prices can fluctuate daily. By fixing the amount of money you pay, you can safeguard yourself or your business against potential future price hikes.