--- title: Choosing the Right Business Electricity Contract During Market Volatility description: Explore strategies for choosing the right electricity contract amid rising prices and market volatility. Make informed decisions for your business. image: https://blog.guaranteedirish.ie/hubfs/Utility%20fair%20blog%20banner.jpg --- - [+353 1 6612607](tel:0035316612607) - [info@guaranteedirish.ie](mailto:info@guaranteedirish.ie) [Facebook-f](https://www.facebook.com/GuaranteedIrishOfficial/) [Twitter](https://twitter.com/guaranteed_irl) [Instagram](https://www.instagram.com/guaranteed_irl/) [Youtube](https://www.youtube.com/channel/UC-HE_PW8whxCMzEn5QjYesQ) [Linkedin](https://blog.guaranteedirish.ie/module.linkedin_link.url.href) [![Guaranteed Irish](https://blog.guaranteedirish.ie/hubfs/raw_assets/public/GuaranteedIrish_August2021/images/GI_Logos_Green_GI_Logo_Tagline.png "Guaranteed Irish")](https://www.guaranteedirish.ie/) - MEMBERSHIP - [WHY JOIN US](https://www.guaranteedirish.ie/why-join-us/) - [BECOME A MEMBER](https://www.guaranteedirish.ie/become-a-member/) - [MEMBERSHIP DIRECTORY](https://www.guaranteedirish.ie/our-members-directory/) - EVENTS - [UPCOMING EVENTS](https://www.guaranteedirish.ie/what-we-do/events/) - [PREVIOUS EVENTS](https://www.guaranteedirish.ie/previous-events/) - AWARDS - [AWARDS 2024](https://www.guaranteedirish.ie/giba/) - [HOW TO ENTER](https://www.guaranteedirish.ie/giba-24-enter/) - [SPONSORS](https://www.guaranteedirish.ie/gibasponsors/) - [JUDGES](https://www.guaranteedirish.ie/gibajudges/) - [WINNERS](https://www.guaranteedirish.ie/giba-winners/) - [CEO ALUMNI](https://www.guaranteedirish.ie/ceo-alumni/) - MEDIA - [BLOGS](https://blog.guaranteedirish.ie/) - [PODCASTS](https://www.guaranteedirish.ie/category/podcasts/) - [BRAND ACTIVATION CHAMPIONS](https://www.guaranteedirish.ie/brand-activation-champions/) # Choosing the Right Business Electricity Contract During Market Volatility October 20, 2026 ![Choosing the Right Business Electricity Contract During Market Volatility](https://blog.guaranteedirish.ie/hubfs/Utility%20fair%20blog%20banner.jpg) **Sort by Category** - [Blogs](https://blog.guaranteedirish.ie/tag/blogs) - [Member News](https://blog.guaranteedirish.ie/tag/member-news) - [Latest News](https://blog.guaranteedirish.ie/tag/latest-news) - [Thought Leader Q&A](https://blog.guaranteedirish.ie/tag/thought-leader-qa) - [GI Gifts](https://blog.guaranteedirish.ie/tag/gi-gifts) - [Press Releases](https://blog.guaranteedirish.ie/tag/press-releases) - [New Member Announcement](https://blog.guaranteedirish.ie/tag/new-member-announcement) - [Sustainability](https://blog.guaranteedirish.ie/tag/sustainability) - [Energy Efficiency](https://blog.guaranteedirish.ie/tag/energy-efficiency) - [Implementation Stage](https://blog.guaranteedirish.ie/tag/implementation-stage) - [Leadership Stage](https://blog.guaranteedirish.ie/tag/leadership-stage) With wholesale electricity prices now at their highest levels since January 2023, Irish businesses are facing another period of rising energy costs. At the start of October, wholesale electricity prices reached €195.96 per MWh (19.60 c/kWh). Once network charges, regulatory costs and supplier margins are included, business electricity unit prices are currently 28–34 c/kWh during the day and 19–24 c/kWh at night, depending on the meter category and usage profile.   For businesses approaching contract renewal, the question is whether to fix electricity prices now or remain exposed to wholesale markets in the hope that prices fall. The right decision depends on your electricity consumption, existing contract expiry date, budget requirements and appetite for risk. Utilityfair, Ireland's largest commercial energy broker, explains how businesses can compare electricity contracts, manage exposure to volatile energy prices and choose the most suitable purchasing strategy.   --- ### Why Have Electricity Prices Increased? Although wind generation supplies a significant proportion of Ireland's electricity, gas-fired power stations often set the wholesale price because they are still needed to meet electricity demand. As a result, higher natural gas prices push up electricity prices.   The conflict in the Middle East has disrupted global energy supplies, pushing European natural gas prices higher. UK wholesale natural gas prices, which provide the main benchmark for Ireland, have increased by 151% since the end of February 2026. European gas storage levels are currently at 73%, which is 15 percentage points below their five-year average, adding further upward pressure on natural gas prices as we approach winter.   These pressures have resulted in new business electricity contracts being 25–30% more expensive than this time last year. ### Start by Reviewing Your Existing Electricity Contract Before comparing electricity suppliers, it's important to understand what your business is currently paying and when your existing contract expires. Start by reviewing the following:   - **Current rates and charges**: Your electricity unit rates, standing charges and any additional fees. - **Contract type and expiry date**: Whether you are on a fixed-price, wholesale tracker or flexible contract, and when it expires. - **Electricity consumption**: Your annual usage, meter types and number of business locations. - **Budget requirements and risk appetite**: Whether predictable electricity costs are a priority or you are comfortable with prices changing in line with wholesale markets.   Businesses should review their electricity contracts as they approach expiry, allowing enough time to compare suppliers and assess their options. The quickest way to compare all suppliers side-by-side is to use an independent energy broker. Alternatively, businesses can contact suppliers individually and compile their own comparison, although this takes more time and does not provide the benefit of independent expert advice. ### Look Beyond the Cents per kWh The supplier offering the lowest electricity unit rate does not necessarily provide the lowest overall cost. Standing charges, network charges, regulatory costs and other fees can vary between suppliers and contract types. A proper comparison should calculate the estimated annual cost of each supplier’s offer using your business's actual electricity consumption, including day, night and peak usage where applicable. For example, a difference of just 2 c/kWh for a business consuming 200,000 kWh annually amounts to €4,000 in electricity costs. This is particularly important for businesses with multiple meters or locations, where consumption patterns and contract requirements may differ. ### Understand Your Electricity Contract Options Different electricity contracts offer different levels of price certainty and exposure to wholesale market movements. The three main options are:   **Fixed-Price Contracts** A fixed-price contract locks in your electricity energy rate for an agreed period, usually 12 or 24 months. This protects your business against increases in wholesale electricity prices and provides budget certainty. However, if wholesale prices fall, you will not benefit from those reductions until your contract expires.   **Wholesale Tracker Contracts** A wholesale electricity tracker links your electricity rate to wholesale market prices, which change monthly. When wholesale prices fall, your electricity rate falls, but when prices rise, your costs increase. Some tracker contracts also allow businesses to switch to a fixed rate during the contract term.   **Flexible Purchasing Contracts** For larger energy users, flexible contracts allow businesses to purchase portions of their future electricity requirements at different times rather than committing to one price for the entire contract. This provides greater control over purchasing decisions but requires ongoing monitoring of wholesale markets and expert energy procurement advice. ### What Do Utilityfair's Energy Experts Recommend? With wholesale electricity prices at elevated levels, we currently favour shorter fixed-price contracts and wholesale trackers rather than committing to longer-term fixed rates.   Our view is that wholesale electricity prices will ease as global energy supply conditions improve. We therefore recommend avoiding 24-month fixed-price contracts at today's rates. For businesses that need budget certainty, a 6-month fixed contract is the better option. For those comfortable with wholesale price movements, we favour trackers that allow businesses to benefit as prices fall, while retaining the option to switch to a fixed rate during the contract without incurring a breakage fee.   The timing of your decision is also important. If your existing contract is not approaching expiry, there is no need to act. If renewal is approaching, compare the available options and avoid committing to new rates earlier than necessary.   ### Making an Informed Contract Decision Given the current uncertainty in energy markets, businesses need to consider both the timing of their renewal and the risks associated with different contract structures.   Utilityfair's energy experts can review your existing contract, compare prices from all suppliers side-by-side and recommend the most suitable purchasing strategy for your business.   To arrange a free electricity price comparison, visit [www.utilityfair.ie](https://www.utilityfair.ie/?utm_source=GuaranteedIrish&utm_medium=EnergyMonth) or call 01 547 0999.   **Guaranteed Irish, Supporting Business that Supports Ireland** [Facebook](http://www.facebook.com/share.php?u=https://blog.guaranteedirish.ie/choosing-the-right-business-electricity-contract-during-market-volatility) [Twitter](https://twitter.com/intent/tweet?url=https://blog.guaranteedirish.ie/choosing-the-right-business-electricity-contract-during-market-volatility) [Email](mailto:?subject=Choosing%20the%20Right%20Business%20Electricity%20Contract%20During%20Market%20Volatility&body=With%20wholesale%20electricity%20prices%20now%20at%20their%20highest%20levels%20since%20January%202023,%20Irish%20businesses%20are%20facing%20another%20period%20of%20rising%20energy%20costs.%20At%20the%20start%20of%20October,%20wholesale%20electricity%20prices%20reached%20€195.96%20per%20MWh%20(19.60%20c/kWh).%20Once%20network%20charges,%20regulatory%20costs%20and%20supplier%20margins%20are%20included,%20business%20electricity%20unit%20prices%20are%20currently%2028–34%20c/kWh%20during%20the%20day%20and%2019–24%20c/kWh%20at%20night,%20depending%20on%20the%20meter%20category%20and%20usage%20profile.%20For%20businesses%20approaching%20contract%20renewal,%20the%20question%20is%20whether%20to%20fix%20electricity%20prices%20now%20or%20remain%20exposed%20to%20wholesale%20markets%20in%20the%20hope%20that%20prices%20fall.%20The%20right%20decision%20depends%20on%20your%20electricity%20consumption,%20existing%20contract%20expiry%20date,%20budget%20requirements%20and%20appetite%20for%20risk.%20Utilityfair,%20Ireland's%20largest%20commercial%20energy%20broker,%20explains%20how%20businesses%20can%20compare%20electricity%20contracts,%20manage%20exposure%20to%20volatile%20energy%20prices%20and%20choose%20the%20most%20suitable%20purchasing%20strategy.%20Why%20Have%20Electricity%20Prices%20Increased?%20Although%20wind%20generation%20supplies%20a%20significant%20proportion%20of%20Ireland's%20electricity,%20gas-fired%20power%20stations%20often%20set%20the%20wholesale%20price%20because%20they%20are%20still%20needed%20to%20meet%20electricity%20demand.%20As%20a%20result,%20higher%20natural%20gas%20prices%20push%20up%20electricity%20prices.%20The%20conflict%20in%20the%20Middle%20East%20has%20disrupted%20global%20energy%20supplies,%20pushing%20European%20natural%20gas%20prices%20higher.%20UK%20wholesale%20natural%20gas%20prices,%20which%20provide%20the%20main%20benchmark%20for%20Ireland,%20have%20increased%20by%20151%%20since%20the%20end%20of%20February%202026.%20European%20gas%20storage%20levels%20are%20currently%20at%2073%,%20which%20is%2015%20percentage%20points%20below%20their%20five-year%20average,%20adding%20further%20upward%20pressure%20on%20natural%20gas%20prices%20as%20we%20approach%20winter.%20These%20pressures%20have%20resulted%20in%20new%20business%20electricity%20contracts%20being%2025–30%%20more%20expensive%20than%20this%20time%20last%20year.%20Start%20by%20Reviewing%20Your%20Existing%20Electricity%20Contract%20Before%20comparing%20electricity%20suppliers,%20it's%20important%20to%20understand%20what%20your%20business%20is%20currently%20paying%20and%20when%20your%20existing%20contract%20expires.%20Start%20by%20reviewing%20the%20following:%20Current%20rates%20and%20charges:%20Your%20electricity%20unit%20rates,%20standing%20charges%20and%20any%20additional%20fees.%20Contract%20type%20and%20expiry%20date:%20Whether%20you%20are%20on%20a%20fixed-price,%20wholesale%20tracker%20or%20flexible%20contract,%20and%20when%20it%20expires.%20Electricity%20consumption:%20Your%20annual%20usage,%20meter%20types%20and%20number%20of%20business%20locations.%20Budget%20requirements%20and%20risk%20appetite:%20Whether%20predictable%20electricity%20costs%20are%20a%20priority%20or%20you%20are%20comfortable%20with%20prices%20changing%20in%20line%20with%20wholesale%20markets.%20Businesses%20should%20review%20their%20electricity%20contracts%20as%20they%20approach%20expiry,%20allowing%20enough%20time%20to%20compare%20suppliers%20and%20assess%20their%20options.%20The%20quickest%20way%20to%20compare%20all%20suppliers%20side-by-side%20is%20to%20use%20an%20independent%20energy%20broker.%20Alternatively,%20businesses%20can%20contact%20suppliers%20individually%20and%20compile%20their%20own%20comparison,%20although%20this%20takes%20more%20time%20and%20does%20not%20provide%20the%20benefit%20of%20independent%20expert%20advice.%20Look%20Beyond%20the%20Cents%20per%20kWh%20The%20supplier%20offering%20the%20lowest%20electricity%20unit%20rate%20does%20not%20necessarily%20provide%20the%20lowest%20overall%20cost.%20Standing%20charges,%20network%20charges,%20regulatory%20costs%20and%20other%20fees%20can%20vary%20between%20suppliers%20and%20contract%20types.%20A%20proper%20comparison%20should%20calculate%20the%20estimated%20annual%20cost%20of%20each%20supplier’s%20offer%20using%20your%20business's%20actual%20electricity%20consumption,%20including%20day,%20night%20and%20peak%20usage%20where%20applicable.%20For%20example,%20a%20difference%20of%20just%202%20c/kWh%20for%20a%20business%20consuming%20200,000%20kWh%20annually%20amounts%20to%20€4,000%20in%20electricity%20costs.%20This%20is%20particularly%20important%20for%20businesses%20with%20multiple%20meters%20or%20locations,%20where%20consumption%20patterns%20and%20contract%20requirements%20may%20differ.%20Understand%20Your%20Electricity%20Contract%20Options%20Different%20electricity%20contracts%20offer%20different%20levels%20of%20price%20certainty%20and%20exposure%20to%20wholesale%20market%20movements.%20The%20three%20main%20options%20are:%20Fixed-Price%20Contracts%20A%20fixed-price%20contract%20locks%20in%20your%20electricity%20energy%20rate%20for%20an%20agreed%20period,%20usually%2012%20or%2024%20months.%20This%20protects%20your%20business%20against%20increases%20in%20wholesale%20electricity%20prices%20and%20provides%20budget%20certainty.%20However,%20if%20wholesale%20prices%20fall,%20you%20will%20not%20benefit%20from%20those%20reductions%20until%20your%20contract%20expires.%20Wholesale%20Tracker%20Contracts%20A%20wholesale%20electricity%20tracker%20links%20your%20electricity%20rate%20to%20wholesale%20market%20prices,%20which%20change%20monthly.%20When%20wholesale%20prices%20fall,%20your%20electricity%20rate%20falls,%20but%20when%20prices%20rise,%20your%20costs%20increase.%20Some%20tracker%20contracts%20also%20allow%20businesses%20to%20switch%20to%20a%20fixed%20rate%20during%20the%20contract%20term.%20Flexible%20Purchasing%20Contracts%20For%20larger%20energy%20users,%20flexible%20contracts%20allow%20businesses%20to%20purchase%20portions%20of%20their%20future%20electricity%20requirements%20at%20different%20times%20rather%20than%20committing%20to%20one%20price%20for%20the%20entire%20contract.%20This%20provides%20greater%20control%20over%20purchasing%20decisions%20but%20requires%20ongoing%20monitoring%20of%20wholesale%20markets%20and%20expert%20energy%20procurement%20advice.%20What%20Do%20Utilityfair's%20Energy%20Experts%20Recommend?%20With%20wholesale%20electricity%20prices%20at%20elevated%20levels,%20we%20currently%20favour%20shorter%20fixed-price%20contracts%20and%20wholesale%20trackers%20rather%20than%20committing%20to%20longer-term%20fixed%20rates.%20Our%20view%20is%20that%20wholesale%20electricity%20prices%20will%20ease%20as%20global%20energy%20supply%20conditions%20improve.%20We%20therefore%20recommend%20avoiding%2024-month%20fixed-price%20contracts%20at%20today's%20rates.%20For%20businesses%20that%20need%20budget%20certainty,%20a%206-month%20fixed%20contract%20is%20the%20better%20option.%20For%20those%20comfortable%20with%20wholesale%20price%20movements,%20we%20favour%20trackers%20that%20allow%20businesses%20to%20benefit%20as%20prices%20fall,%20while%20retaining%20the%20option%20to%20switch%20to%20a%20fixed%20rate%20during%20the%20contract%20without%20incurring%20a%20breakage%20fee.%20The%20timing%20of%20your%20decision%20is%20also%20important.%20If%20your%20existing%20contract%20is%20not%20approaching%20expiry,%20there%20is%20no%20need%20to%20act.%20If%20renewal%20is%20approaching,%20compare%20the%20available%20options%20and%20avoid%20committing%20to%20new%20rates%20earlier%20than%20necessary.%20Making%20an%20Informed%20Contract%20Decision%20Given%20the%20current%20uncertainty%20in%20energy%20markets,%20businesses%20need%20to%20consider%20both%20the%20timing%20of%20their%20renewal%20and%20the%20risks%20associated%20with%20different%20contract%20structures.%20Utilityfair's%20energy%20experts%20can%20review%20your%20existing%20contract,%20compare%20prices%20from%20all%20suppliers%20side-by-side%20and%20recommend%20the%20most%20suitable%20purchasing%20strategy%20for%20your%20business.%20To%20arrange%20a%20free%20electricity%20price%20comparison,%20visit%20www.utilityfair.ie%20or%20call%2001%20547%200999.%20Guaranteed%20Irish,%20Supporting%20Business%20that%20Supports%20Ireland) [LinkedIn](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.guaranteedirish.ie/choosing-the-right-business-electricity-contract-during-market-volatility) [Previous Article](https://blog.guaranteedirish.ie/building-a-more-resilient-and-sustainable-infrastructure-for-ireland) ### You might also enjoy [![Guaranteed Irish and Vhi Announce Strategic Partnership to Support the Health and Wellbeing of Irish Businesses](https://blog.guaranteedirish.ie/hubfs/VHI-Guaranteed-Irish-Partners.jpg)](https://blog.guaranteedirish.ie/guaranteed-irish-and-vhi-announce-strategic-partnership-to-support-the-health-and-wellbeing-of-irish-businesses) ### [Guaranteed Irish and Vhi Announce Strategic Partnership to Support the Health and Wellbeing of Irish Businesses](https://blog.guaranteedirish.ie/guaranteed-irish-and-vhi-announce-strategic-partnership-to-support-the-health-and-wellbeing-of-irish-businesses) Guaranteed Irish is pleased to announce a new strategic partnership with Vhi, bringing together two trusted Irish organisations with a shared... 24 August 2026 [![October is Cybersecurity Month](https://blog.guaranteedirish.ie/hubfs/Paul-Rellis-Viatel.jpg)](https://blog.guaranteedirish.ie/cyber-security-month-viatel) ### [October is Cybersecurity Month](https://blog.guaranteedirish.ie/cyber-security-month-viatel) Introduction of Substantial Regulatory Changes 10 October 2024 [See All Articles](https://blog.guaranteedirish.ie) [![Guaranteed Irish](https://blog.guaranteedirish.ie/hubfs/raw_assets/public/GuaranteedIrish_August2021/images/GI_Logos_Green_GI_Logo_Tagline.png "Guaranteed Irish")](https://www.guaranteedirish.ie/) 20 Molesworth Street, Dublin 2, Ireland [info@guaranteedirish.ie](mailto:info@guaranteedirish.ie) [+353 1 6612607](tel:0035316612607) [Facebook-f](https://www.facebook.com/GuaranteedIrishOfficial/) [Twitter](https://twitter.com/guaranteed_irl) [Instagram](https://www.instagram.com/guaranteed_irl/) [Youtube](https://www.youtube.com/channel/UC-HE_PW8whxCMzEn5QjYesQ) [Linkedin](https://www.linkedin.com/company/guaranteed-irl/) ### JOIN OUR NEWSLETTER #### SITEMAP - [Board Of Directors](https://www.guaranteedirish.ie/who-we-are/board-of-directors/) - [Appraisals Advisors](https://www.guaranteedirish.ie/appraisals-committee/) - [Members Portal](https://www.guaranteedirish.ie/members-portal-landing/) - [Sustainability](https://blog.guaranteedirish.ie/sustainabilityhub) - [Contact Us](https://www.guaranteedirish.ie/contact-us/) - [Privacy Policy](https://www.guaranteedirish.ie/who-we-are-privacy-policy/) ©Copyright 2026 Guaranteed Irish | All Rights Reserved ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Áine Dempsey", "url" : "https://blog.guaranteedirish.ie/author/áine-dempsey" }, "dateModified" : "2026-10-20T10:23:06.742Z", "datePublished" : "2026-10-20T08:38:48.000Z", "headline" : "Choosing the Right Business Electricity Contract During Market Volatility", "image" : [ "https://blog.guaranteedirish.ie/hubfs/Utility%20fair%20blog%20banner.jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.guaranteedirish.ie/choosing-the-right-business-electricity-contract-during-market-volatility", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.guaranteedirish.ie/hubfs/GI_Logos_New%20Tagline.png" }, "name" : "Guaranteed Irish" } } ```