There has been widespread media coverage recently about rising energy prices and suppliers ceasing to trade.
Why are energy prices rising?
Wholesale prices for natural gas and electricity have risen due to higher global demand, reduced generation due to planned maintenance and lower renewable electricity generation due to low winds.
We understand this can be unsettling, particularly for business owners whose livelihood depends on the use of energy. Gas and electricity are critical components in so many of our customers’ businesses, and they rely on the energy industry to keep that supply flowing.
Your supply is safe with us
We want to reassure all kinex customers that there is no reason to be concerned about the security of your energy supply.
kinex is part of the Verastar Group, which provides a wide range of services including telecoms, broadband, water, insurance and payment services, as well as energy, to over 160,000 small businesses.
The fact that we offer a wide range of services, coupled with the way we purchase energy on the wholesale market, means we are at lower risk than many other providers from current fluctuations within the market.
If you’re in a fixed term contract
If you’re in a fixed-rate contract your rates won’t increase during your fixed term, save in the limited circumstances set out in your contract.
If your contract’s due to end soon, you’ll lock in the best rates by remaining in a fixed contract. We’ll contact you before your contract ends to offer you a renewal.
If you’re not in a fixed-term contract
If you’re not currently in a fixed-term contract for gas or electricity, the wholesale prices increases will unfortunately affect you and you could end up paying more than you need to.
You can secure the most competitive rates by entering into a fixed-term contract with kinex, while protecting yourself against any further wholesale price increases.
How to save money on your energy bills
Energy prices look set to remain high for at least the remainder of this year and into spring 2022.
The best way to save money on your energy bills is to be as energy efficient as possible and look at ways to reduce your energy consumption.