Energy Crisis – everything you need to know

Energy Crisis – everything you need to know

19 Jun 20222 mins to read

Addressing the unfolding Energy Crisis is becoming disturbingly similar to the one in the 1970s when hours-long queues at gas stations were nothing surprising. While fuel shortages are becoming a global concern for just about every country on the globe, the impact the Energy Crisis has on small- and medium-sized businesses is nothing less than detrimental.

In today’s article, Energy5 will look into the causes that triggered the Energy Crisis, its impact on businesses, and tangible solutions that have the potential to remedy the situation for your business

The context

As we’re writing these words, the average price per gallon in California surpasses $6. As you may know, fuel prices in California are around $1.5 bigger than in other states. The grim projections indicate that the good folks of California will end up paying more than $7 per gallon by the end of summer.

The rising and volatile energy prices coupled with the unstable condition that the global economy finds itself within all lead to creating less than satisfactory conditions for small business owners nationwide. Navigating one’s business through the Energy Crisis is no longer merely an option but an actual necessity that requires undivided attention.

Businesses that were unable to secure fixed rates with their Energy Suppliers will have to brace themselves for impact, as energy prices are projected to skyrocket for the second time in the fall. A new price spike threatens to deal even more damage, so it’s important to act before it’s too late. After all, the short-term energy price fluctuations are just the beginning of a much bigger crisis.

Energy prices affect smaller businesses

The two years of pandemic hit smaller businesses the hardest. It affected their supply chains and resulted in a genuine shortage in labor. Business owners hoped that the Covid-19 decrease would allow them to get back to normal, but Russia’s recent invasion of Ukraine disrupted logistic processes and had a devastating impact on oil prices worldwide.

Hence, as more businesses struggle to fill their tanks, consumers are reviewing their spending patterns and have less expendable income to afford some of the products and services, leading to an even greater crisis.

The only viable solution in this dire time of need is ensuring that your business operates in line with fixed contracts with your energy suppliers. That way, you will protect your enterprise from the rising gas and electricity costs and cut your energy expenses by up to 30%.

Granted, it may not seem like a lot, but in a time of the Energy Crisis, every dollar counts, and switching your energy suppliers is easy with Energy5.

Pick from a list of the top energy suppliers in your area, get your fixed energy rates, and enjoy peace of mind by safeguarding your business from the rising gas and electricity prices.

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with the best fixed energy rates

We help businesses get affordable and predictable energy prices. Pick from our list of top available Energy Suppliers on the market and make the right call with Energy5.