It’s not only homeowners who are getting the energy switching bug – so far in 2014 Gocompare.com has seen a 78% increase in the number of businesses enquiring about switching energy, compared to the same period last year.
Businesses have clearly cottoned on to the savings they can make by switching, and Gocompare.com now expects to see 19% more businesses switch energy provider in 2014 compared to 2013.*
And it seems there are great savings to be made, as a business entering a contract now should expect to be paying around 11p per kWh for electricity and 4.5p per kWh for gas. If the business auto-renewed its energy contract, it’s likely to be paying around 16p per kWh for electricity and 6p per kWh for gas. These prices could be considerably higher if they haven’t switched or entered into a contract.**
Jeremy Cryer, Gocompare.com’s energy spokesman, said: “Switching energy suppliers isn’t just for households; businesses can do it just as easily. Businesses that switch energy with Gocompare.com save time, money and hassle by shopping around. Saving that money can go straight into a business’s profit margins.
“The average saving for Gocompare.com business energy customers in 2013 was £1,242***. That’s a lot of money for any company, but for a smaller business that is a substantial saving.
“We help businesses understand when and if they can switch – depending on where they are with their current contract. Using the information on their utility bills, business owners can make a whole of market comparison and get the best deal for them – it’s as easy as that.”
Notes to editors:
*The increase is based on the proportion of businesses expressing an intention in Make It Cheaper Business Costs Outlook Survey 2013 & 2014 to review their energy contracts rising from 51% to 70% over the past 12 months and modelling that uplift against last year’s actual business switching numbers, published by Ofgem.
**Sourced from Gocompare.com’s business energy partner Make it Cheaper in February 2014.
***The average saving for a business customer switching through Gocompare.com between January and December 2013, based on over 1,000 customers, where accurate renewal rates were given, which have been used to calculate saving figure.