Numerous small businesses in the UK have struggled for months on end to pay their utility bills due to the constant rise in the energy market.
In this blog, we'll briefly discuss what happens if you fail to make your payments on time, and how we can help mitigate these issues.
Will energy prices continue to increase?
Yes. Both electricity and gas prices will surge in October this year. It has been confirmed that the energy price cap will increase by 80%, bringing average annual bills to £3,549 in October when the new energy price cap goes into effect.
Ofgem CEO, Jonathan Brearley stated:
“The trade-offs we need to make on behalf of consumers are extremely difficult and there are simply no easy answers right now. Today’s changes ensure the price cap does its job, making sure customers are only paying the real cost of their energy, but also, that it can adapt to the current volatile market."
What happens if I fail to pay my energy bills?
In extremely rare circumstances, if a payment is unpaid after 28 days, you might be threatened with having your supply cut off, although you are typically offered a metre as an alternative.
Your provider must also first give you the opportunity to settle your debt with a plan.
How PSP can help:
Our team of experts have more than 10 years' worth of experience working within this field. Our professionals can review and identify any discrepancies within your bills to ensure that your current energy suppliers are not overestimating your usage thus making you pay even more than necessary. With our knowledge, we can focus on areas across your business to reduce costs and stimulate growth within your business.
We understand the struggles and challenges that each business faces and so we strive to mitigate these issues and provide you with trusted support to help you navigate through the current energy crisis.
You can call us on 03330 156 289, or send a copy of your energy bills to info@placesupportpartnership.com.
Don't struggle alone and reach out to us today.
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