Scotland’s small businesses lose out on £187 million in energy tariffs

Thirty per cent of Scotland’s 340,000 SMEs haven’t switched electricity or gas supplier since 2011 

Failure to switch to cheaper energy suppliers has cost Scotland’s SMEs £187 million over the past five years, according to new research from market analysts at Love Energy Savings.
Thirty per cent of Scotland’s 340,000 SMEs have not switched electricity or gas supplier since 2011 but could have saved nearly £1,500 each if they had.
Only 47% of businesses have looked into the possibility of switching to another energy supplier or a different tariff in the last 12 months.
Love Energy Savings managing director Phil Foster said: “We’re amazed that so many of Scotland’s small business owners and managers are still missing out on the opportunities that exist to cut their energy bills.
“Our research has found that changing supplier and switching to a better deal gives businesses the chance to save an average of 40% on their gas and electricity bills.
“That is money which could make a real difference to a company’s future. It is cash that could be invested into growth and employment, instead of going out of the business unnecessarily.
“It seems that many businesses are still either unaware of the potential for savings or find the process difficult to understand.
“We acknowledge that some SMEs may be on two or three-year contracts and, therefore, not up for renewal this year.
“However, the fact that less than 50 per cent of businesses have looked into the possibility of switching supplier or to a different tariff over the last 12 months highlights that there is still much to do to encourage and inform owners and managers of the options that are available.”
Formed in 2007, Love Energy Savings has recently been named as the Best SME To Work For 2016 at the National SME Awards.

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