It has been more than a year since the pandemic seriously hit every country in the world. It was on March 23, 2020, that the United Kingdom was officially declared on lockdown. Businesses were shut, and people are forced to stay inside their homes unless necessary. Because of these restrictions, several local and small companies were forced to go out of business before they went bankrupt. And as of April 2021, UK’s unemployment rate is still at 4.8%.

It was evident that the global economy has taken a hit since the start of the pandemic crisis. One aspect that has received a negative impact is the energy sector. If you are wondering why energy prices seem to be fluctuating recently, keep reading to understand more.

Businesses during the pandemic

As we mentioned above, several businesses, especially non-necessity ones, were forced to close down in line with the COVID-19 restrictions. Unfortunately, some decided to shut permanently since their operations were gravely affected and barely get customers. And according to the Federation of Small Businesses, more than 250,000 small firms in the country are still expected to close if not given financial help by the government, especially now that lockdown restrictions are being heightened. Sadly, we can also say that this situation is also happening right now on a more global scale.

How does the pandemic affect business energy prices?

Now, because of the massive closures of businesses, which utilise the bulk of the country’s electricity, water, and gas supply, the demand for business energy dropped. Studies showed that at the start of lockdown, “demand for electricity in the UK dropped by 15.6% and commercial gas by 12.0%.” The same thing goes with every country in the world.

Because of these changes, the energy market has been negatively impacted, and prices start to fluctuate. Business energy suppliers struggle to recover bad debt costs caused by the lockdown. Although things slowly begin to recover, we still cannot say where the market goes from here since the pandemic continuously becomes unpredictable.

How to find the best energy prices in 2021?

If you are a business owner who is fortunate enough to keep your firm going and you seem to need to do a supplier switch soon, we may have something to help you out.

Your first instinct is to choose the cheapest energy prices in the market. But how sure are you that this is the most cost-efficient decision? If you are struggling, then it is time to ask for an expert’s say on this. Hire a utility broker that can assist you in every step of the way of your business energy switch. Especially now that things are more complicated because of the pandemic, you need the expert guidance that a utility broker can provide. They can help you with finding cost-effective plans and reliable suppliers.

Utility Bidder can help you find the most competent utility broker for you. Their goal is to help entrepreneurs save more money by hooking them up with the best business energy deals. If you are currently confused about how you can find efficient energy prices and quotations amidst the pandemic, ask the help of a utility broker. You can guarantee that their expert opinion would lead you to a successful and stress-free switch.