As reported by The Telegraph this Monday by James Hurley, businesses are failing to take measures to reduce their energy costs, despite the rising cost of gas and power, according to British Gas Business.
He continues – a survey of 900 medium-sized businesses by the gas and electricity supplier found that 70pc are not currently engaged in energy efficiency measures while just under one in three respondents (32pc) has “no intention” of implementing such measures in the future.
British Gas Business owner Centrica has warned that energy prices will rise this winter in response to its margins being squeezed as the wholesale price of gas and power soars.
Energy prices have risen by around 25pc in the last six months alone, with Centrica citing extreme cold weather last winter, unrest in the Middle East and North Africa and the earthquake in Japan in March as contributory factors.
The survey found that energy bills currently represent almost a fifth (17pc) of respondents’ annual operational running costs, or £25,000.
However, British Gas Business said that higher costs do “not automatically” equate to higher bills. Its survey found that 70pc of companies which had devices which allowed them to monitor usage and analyse date to control their consumption saw a return on their investment within 18 months.
British businesses have already been tightening their belts to weather the economic storm, but aside from monitoring devices there are other steps businesses can take to help.
One of the most important areas to keep an eye on is the accuracy of overheads such as business electricity and business gas bills. Many utility bills are in fact estimates; making sure that bills are accurate will mean that you only pay for what your business uses.
It’s also important to keep an eye on what tariff you are on for your business electricity and gas. You can do this easily by using the services of an independent specialist business energy price comparison website such as Energy Advice Line.
You can also use a business energy price comparison website to obtain a free, no obligation quote to switch your business electricity and gas supplier for a cheaper deal. Of course it goes without saying you should also check out the renewal date for your business utilities to make sure you don’t get rolled over into a potentially costly new contract without the chance to switch.
For further free advice contact the Energy Advice Line on 0800 915 1800 or click www.energyadviceline.org.uk