UK SMEs ‘missing out’ on big energy bill savings

Time-pressured SMEs across the UK might be missing out on potential savings on their energy bills, even though cost of energy is the most important consideration for them when choosing a supplier.

That’s according to business energy provider Opus Energy, which found that Nearly a quarter of SMEs (24%) are on out-of-contract rates, 81% of SMEs do not shop around other energy suppliers to find better deals and 12% have never switched providers. (scroll down for full report)

Opus Energy’s Business Boost Report also show that the majority of UK small and medium-enterprises (SMEs) are trying to manage their energy better and have a positive attitude towards renewable energy.

Of the 500 SMEs surveyed, 78% said they are keen to be supplied with renewable energy – 40% of whom want it because of its smaller environmental impact and 38% to advance their green credentials.

Expensive rates

Opus Energy director Louise Boland said: “It’s clear to see there’s an opportunity to build on current successes with some simple actions, which could help them [SMEs] save on their energy bills. But, many need help and support to understand the best contract options and how technologies such as smart meters can help.

“We’d urge companies to check whether they’re being supplied on expensive out-of-contract rates, and to shop around for a great fixed rate contact. This can only be a good thing for their bottom lines and long-term business success.”

More than half (51%) of businesses already have smart meters to help them keep track of their energy use, although a fifth of these don’t know how to use their meter.

In January, research from Lloyds Bank Commercial Banking revealed that a quarter of SMEs said sustainability would be one of their top three priorities in 2014.

REPORT: Opus Energy Business Boost

Lois Vallely

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