UK SMEs have saved a grand total of £511 million on energy bills within the past 12 months. And roughly 45% saved up to £10,000 per annum according to a survey carried out by YouGov and commissioned by Npower Business. However, despite this, a surprising 70% revealed they don’t ask for any sort of saving scheme or discount.
What are they missing out on?
For the 30% of SMEs in the UK who did kick up a fuss and demand a good but fair deal from their suppliers, the savings were well worth it! The average savings per business equalled £2,800. It’s hardly surprising that a whopping 93% of those who made the efforts said they’d continue to negotiate in the future.
Jumping on the bandwagon?
For businesses to be more willing to ‘bargain’ the Big Six launched a national campaign that supports businesses who might struggle with negotiating by advertising their tips – the tips include how significant research and planning ahead is.
Head of npower Business, Philip Scholes has said;
“This research shows that businesses across the UK are reaping the dividends of negotiating their energy supplier contracts. However, not all firms are entering discussions with their provider, which could prove to be a missed opportunity in the long term.
“That’s why we launched this campaign – we’d encourage all British businesses to look at their supplier costs and particularly their annual energy costs to help improve their bottom line.”
During the start of March, the CMA revealed that SMEs had previously paid approximately £280 million more annually from 2007 to 2014 to the Big Six.
What can you do to save money?
Head of Businesscomparison, Philip Brennan has commented;
“It is so easy for businesses to be ‘ripped off’ these days and that needs to stop. Businesses encounter so many additional costs so it is extremely important for them to save money where they can – especially on things such as energy, an everyday essential. Negotiating can be beneficial but, it is just like comparing but without the rest of the market so, at the same time, it is a disadvantage. Businesscomparison.com compares the best energy quotes for businesses so that they can save money and still trade.”