With fuel price hikes at an all time high amongst the larger electricity suppliers and continued concern about how consumers being misled, there is much confusion amongst small businesses over how best to source their electricity and manage it cost effectively.
Recent research from Electricity4Business found that almost one in five small businesses with less than 20 employees spend more than 10% of annual turnover on energy bills and are operating in fuel poverty. It also found that contractual confusion and supplier switching inertia are contributing to unnecessarily high electricity bills.
This blog offers tips on how to cut your electricity costs.
Shop around
Your current supplier will only provide you with their existing customer price, which can often be up to 100% more than their prices for new customers. Good deals do exist so it pays to shop around in much the same way as you would for any other service to your business, from sourcing a plumber to choosing a bank.
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