Why now is a good time for pharmacies in the UK to save money by arranging their gas and electricity contracts before winter.
As the winter season approaches, gas and electricity prices in the UK tend to spike due to increased demand for heating and lighting. This pattern is typically seen every year. Historically, energy consumption rises sharply during the colder months, which puts pressure on supply and results in higher wholesale energy prices. Procuring gas and electricity before winter fully kicks in will allow pharmacies to lock in lower rates, avoiding the price volatility that winter brings.
Global factors such as geopolitical tensions (like the ongoing conflict between Russia and Ukraine), supply chain disruptions, and fluctuations in fuel availability have caused increased unpredictability in energy prices. Even small disturbances in gas or electricity supply could push prices higher. Pharmacies that secure their energy deals can hedge against the risk of sudden price increases driven by these external pressures.
By purchasing gas and electricity now, pharmacies can take advantage of fixed-rate contracts. These contracts offer stable, predictable pricing over a period, protecting businesses from significant price hikes. Waiting until the winter months could lead to higher initial costs and less attractive terms for fixed-rate energy plans.
Full Power Utilities has been working with NPA members for a number of years now. As one of the longest standing energy consultants in the industry, they can help not only save you time and money but also give you independent advice to help navigate the highs and lows of the market.
The above graph shows historical gas and electricity price trends over the last year. Typically, we will always see a trend of increasing prices during the autumn and winter months (October to February) compared to the summer months (April to August). The rising trend into winter reflects why it's beneficial to lock in energy contracts now before prices peak.
Key points to save you money:
Locking in lower prices: Pharmacies can lock in at lower wholesale prices now before winter, thus reducing the cost of energy over the high-demand season.
Avoiding seasonal peaks: Winter peaks are unpredictable but consistently high. By purchasing energy now, pharmacies avoid buying at inflated prices in the winter.
Improved financial forecasting: With fixed energy rates, pharmacies can better manage their cash flow, reducing the uncertainty of fluctuating expenses.
With the increase in a Pharmacies workload over the last few years, you might be thinking “I just haven’t got time to deal with another admin task!”. Don’t worry, as a member of the NPA you won’t have to. All you need to do is send a copy of your energy bill to Full Power Utilities, and they will do the rest. Once they have reviewed your energy portfolio and tendered the whole market to get you the most competitive prices, you then just need to confirm which supplier you would like to go with, and they will do the rest. They will even manage the switch process, which means it’s a completely hands off approach for you.
Also, you might want to start to look at reducing your usage. We have put together a hand guide which you can download for your Pharmacy here.
So, don’t let the winter eat away at your energy budget, act now to save.
To get your free energy review, head to www.fullpowerutilities.com/npa
