The UK's hospitality sector is struggling with soaring energy costs, prompting industry leaders to call upon regulatory bodies for intervention. The sector has requested that the Competition and Markets Authority (CMA) investigate the energy market, as they believe that small and medium-sized enterprises (SMEs) may have been overcharged.
Kate Nicholls, CEO of UK Hospitality, highlighted that during the summer and autumn of 2022, businesses were encouraged to enter fixed-price deals at extremely high rates. This has massively affected businesses within this sector and left many smaller hospitality businesses still struggling today.
To avoid such challenges, hospitality businesses should consider partnering with a reputable energy broker. This is crucial for hospitality businesses aiming to secure fair and transparent energy deals. A trustworthy broker can offer:
- Market expertise: In-depth knowledge of energy market trends to identify optimal procurement times.
- Cost savings: Leveraging supplier relationships to negotiate competitive rates tailored to your business needs.
- Simplified processes: Managing contract negotiations and administrative tasks, saving you time and effort.
- Risk Mitigation: Advising on contract types and duration
How to choose the right energy broker
With approximately 3,000 energy brokers operating in the UK, selecting a reputable partner requires careful consideration. Here are key factors to evaluate:
- Transparency: Ensure the broker discloses all fees, commissions, and pricing structures upfront, with no hidden charges.
- Supplier relationships: A credible broker should have direct relationships with a broad range of suppliers, enabling them to source the best deals without intermediary fees.
- Industry experience: Look for a broker with a proven track record and substantial experience in the energy sector, indicating their ability to navigate complex market dynamics effectively.
- Client portfolio: Assess whether the broker has experience working with businesses like yours, demonstrating their capability to address your specific energy needs.
- Regulatory compliance: Verify that the broker adheres to industry codes of practice and is registered with relevant regulatory bodies, ensuring they operate with integrity and accountability.
Why your business should choose Resolve energy
With over 13 years in the industry and partnerships with more than 24 reputable UK energy suppliers, we prioritise transparency, customised solutions, and dedicated customer support. Our team provides clear pricing without hidden fees and tailors energy strategies to align with your business's unique requirements.
To find out more about partnering with us, please get in touch.
If you're looking to save money on your energy bills then why not get in touch today? The relationships Resolve Energy has developed with over 24 of the UK’s biggest business energy suppliers allows our energy experts to source the best business energy rates available for your company right when you need them. Request a free quote today and start saving money on your energy.
