Be Wary Of Utilities Over Charging

August 23, 2015 by Andy Crow

How many of you know when your Gas and Electricity supply contracts expire?

Furthermore how many know what charges you are paying or who are the best suppliers?

Like any market these rates vary from day to day and from each supplier, but a recent study by price comparison website switchmybusiness.com found that many UK businesses are losing out after being locked into energy contracts without their permission.

Over 30 per cent of small businesses had been put on a ‘deemed contract’ (where the customer continues to use energy after a contract has expired) with their existing supplier at the end of a fixed contract, which has led to them paying up to 80 per cent more.

On top of this, a Competition and Markets Authority report in July found that smaller businesses were unnecessarily spending £500 million a year on energy.

The research concluded that over1.3 million UK businesses didn’t understand how to end their current business energy contract which resulted in them losing out on better energy deals.

The business energy market lacks the transparency available to domestic users and smaller businesses do not necessarily have the resources to liaise with lots of suppliers and negotiate the best deal. At Chorus Business Advisers we regularly assist businesses reduce these costs. One recent analysis saved the client over 40% of their electricity charges.

For more info information or your free analysis please contact Chorus Business Advisers on 0845 8671263 or email info@chorusadvisers.co.uk.