This winter’s harsh weather demonstrated the continuing importance of weather as a near-term driver of energy prices. Frequent cold snaps led to both higher gas prices and increased price volatility. The experts at CapRock Services recommend business owners call their energy providers and lock in a 12 month or 2 year rate during the spring time, when the prices tend to be lower.
“We haven’t seen a winter this bad for years, and when winter hits hard, businesses are hit hard too,” said Joe Womack, President of CapRock Services. “We have seen businesses shut down for days and the cost of heating soar during the worst months. This means a huge loss of revenue and mounting bills. It may seem counterintuitive, but the best time to lock in reasonable rates are during the spring months.”
“We have seen a rough winter and so many businesses suffering from energy price hikes. Our client, Advanced Motor Sports Ducati Dealership, came to us for a new quote and we were able to get them down 5.5 cents per kwh, from 7.6 cents. It doesn’t sound like much now, but when you lock in the low rate and add the figures up over the course of a year, the savings are very significant,’ Womack continues.