Businesses across the UK have had a difficult few years with soaring inflation, and in particular, the rising cost of powering and heating properties.
The start of the conflict in Ukraine in February 2022 triggered the wholesale cost of energy in Europe to soar to unprecedented levels.
The government stepped in last summer to avoid mass bankruptcies protecting companies from real energy prices. The government scheme, known as the “Energy Bill Relief Scheme”, automatically reduced the cost of energy for businesses and other organisations.
However, the scheme ended in March 2023 and was replaced by the significantly less generous Energy Bill Discount Scheme. Over the next few days, the April bill for commercial electricity and gas will land and, for most companies, won’t receive any discount.
This article explores the options for businesses facing an end to the automatic government discount on energy bills.
Get a more competitive energy tariff
Through the crisis, many companies decided not to renew or arrange fixed energy tariffs, instead opting to wait until prices fell to a more reasonable level.
In the first four months of 2023, wholesale energy prices have fallen sharply, and there are now highly competitive fixed-rate energy tariffs available on the market.
A business energy comparison website can help you find the most competitive energy tariffs on offer in the market. These websites allow you to compare energy quotes and tariffs from multiple suppliers, making finding a cheaper energy supplier simple and easy.
As well as getting an immediate savings, entering into a fixed energy tariff will give businesses certainty over future energy bills and protect companies against future energy shocks.
Considering energy efficiency
Companies pay a unit price for electricity for every kWh they use. Using electricity more wisely directly works to reduce costs.
Simple steps such as turning off lights and equipment when not in use, replacing incandescent light bulbs with energy-efficient LED bulbs, and using the eco-mode on white-good appliances represent low-hanging fruit when it comes to reducing wasted electricity.
It’s a similar story regarding business gas prices – the most effective way to reduce bills is simply to use less gas.
Regular maintenance of building insulation will stop heat from escaping and make boilers much more efficient in keeping your property warm.
This is a submitted article
