Did you know that UK businesses are spending more on electricity?

The latest Energy Barometer Report by POWWR shows that average annual spending increased from £5,160 to £5,446, a rise of 5.5% and energy use increasing by 4.1% in the last quarter - with a recommendation in the report indicating that businesses could save up to 6% on average by switching up their suppliers.

The report also found that the average contract length of the 400,000 businesses asked was around the 2 year length, meaning that some businesses could be paying higher tariffs when prices were higher for energy a couple of years ago.

As with all insurances, it's best to shop around before you renew - and if the prices are favourable for you, it's possible to look at advanced procurement options too so that you can secure your rate ahead of your renewal.

Source: You can read the full article online at Energy Live News.

The Honest Opinion

"Business energy prices remain high and as discussed in this article continue to fluctuate in the wrong direction. While many business owners feel that this situation is never ending and can feel hopeless at HUG we provide tools to our clients to help with managing increases and taking advantage of low points in the market wherever possible. A key point within the article is businesses locking in prices years in advance. This is an invaluable tool that has helped so many of our clients avoid unnecessary increase year after year."

- Arran Quinn, Corporate Account Manager and Energy Consultant at Honest Utility Group

At Honest Utility Group our team will look help you secure the best available rates and terms on your energy contracts. You can reach our team by phone on 0191 7208 238 or by email at info@honestltd.co.uk