With the economy primed for inflation, the real question becomes, will the coming wave be an easily managed wave or will it be a tsunami that will send commodity markets soaring, kneecap savers, and continue to cripple small businesses across America?
Either one is completely possible.
Among the many products and services that have already started to cost more, Yahoo Life predicted twenty essential necessities that will see increased prices in 2021.
The list includes homes, groceries, clothes, cleaning supplies, computers and electronics, mail, postage, eating out, airplane tickets, healthcare insurance, exercise equipment, and while toilet paper didn’t make the list, electricity did.
As predicted, and as we cross the halfway mark of 2021, businesses are already starting to see increased energy bills.
Effective in June, Pennsylvania utilities announced a 5% – 7% increase in electricity rates, depending on where you live. But that’s minor compared to West Penn Power, one of
Pennsylvania’s largest utilities, which will be increasing their rates by 27% next month.
Last Thursday Florida regulators unanimously approved Duke Energy to implement a plan to “modernize” electricity prices, putting into effect their three-year plan to increase rates.
Commodity market analyst, Ray Franklin, talks about natural gas as the main commodity used to produce electricity and how its predicted future pricing will impact electric bills across the boards, as his most recent energy update ended by saying:
“I believe three years from now you may look back and realize there was only one cost of doing business you could have stopped increasing, your cost of energy for natural gas and electricity.”
By now the thought of significantly increased energy bills in the near future is starting to look like a serious reality.
As we march towards economic recovery, the question is no longer “will energy prices increase?”, but rather, how do you avoid them since many businesses are starting to experience it already.
Energy Professionals, one of North America’s leading energy consulting firms, says the answer is simple: Energy Price Protection!
“While we may be facing the possibility of mass inflation, the concept of helping business mitigate increasing energy rates is nothing new to us, in fact, that’s what we’ve been doing for 20 years, and as a result, we’ve helped thousands of businesses save millions of dollars just by finding them lower energy rates,” said Jim Mathers, President at Energy Professionals.
Energy Professionals uses their energy Price Protection program to find competitive electricity and natural gas rates for businesses in deregulated energy states.
Helping businesses make the most of their energy choice, trained energy advisors locate and secure low energy rates on fixed-rate plans that can guarantee rates from anywhere between six months to six years, depending on your risk-tolerance level.
By obtaining competitive energy rates on a fixed plan, businesses can successfully hedge against possible inflation by paying the low rates they fixed in place throughout the inflation period.
“We’ve had several members report 5-figure savings in yearly energy costs by simply having Energy Professionals analyze their energy usage and negotiate for better rates”, reported Scott Lindley, VP of the American Composites Manufacturer Association.
Last year, Energy Professionals helped Campground Advocate cut their energy supply costs in half: “Energy Professionals has a great reputation, they really know what they are talking about, they made the entire process easy, and most importantly they saved me 50% on my energy rates”, says owner Art Lieberman.
Unfortunately, just because a business is located in a state that offers energy choice, doesn’t mean they will automatically get the lowest energy rates possible.
As utilities increase their rates, so do energy brokers. Additionally, smaller energy broker companies don’t always have access to all the retail energy providers in a specific area.
That’s why the price protection program is so important.
An energy rate analysis done for a health care facility found them paying double the rates they should be, and when they took advantage of the fixed rates provided by Energy Professionals, the estimated savings reach over $100,000.
Taking energy savings a step further, Energy Professionals’ price protection program includes a service that helps qualifying clients locate errors in their utility bills, resulting in refunds from their utility. A service that small businesses struggling to make ends meet have welcomed with open arms.
And for those not familiar with energy deregulation, Energy Professionals provides client
education through weekly how-to videos posted on their YouTube channel.
With a 20-year track record of helping businesses, this isn’t the first economic crisis that Energy Professionals helped their clients survive.
“Small businesses in America don’t only lay the foundation on which America is built, but they provide America with color, character, and genuine craftmanship”, says Mathers, “That’s why my job at Energy Professionals is so important and why my team is dedicated to helping small businesses survive during these rough and uncertain economic periods by helping them find lower energy rates.”