Energy Bills Up by Almost 10% for UK Businesses

28 Apr Energy Bills Up by Almost 10% for UK Businesses

(Oilandgaspress) -– – POWWR, a respected energy software provider, today released its tenth Quarterly Energy Barometer Report, revealing that UK businesses are paying 9.3% more for their electricity than last quarter. The average bill of £5192 per annum is 6.3% more than this time last year.

Businesses in South West England have seen their bills increase the most (by 18.0%), followed by those in South Wales (14.8%), and East Midlands (14.0%). Despite this, businesses in North Wales continue to pay the most for their energy on average (£6257 per annum); £1838 more than those in North East England.

“UK businesses are paying significantly more on average for their electricity than last quarter. With those that typically use 50-100 MwH of electricity a year now paying almost £15000 annually, and those that use over 100 MwH, paying double that,” explains David Sheldrake, CRO, POWWR. “Many can mitigate the rises by shopping around for their energy, with businesses able to save around 2.7% by switching suppliers.”
The POWWR Quarterly Energy Barometer Report provides unparalleled insight into just how much energy UK businesses consume and what they are paying for it. The report is based upon over 670,000 separate data points covering a variety of businesses, from boutique start-ups to large industrial and commercial organisations.
The report shows that average energy usage has risen by 1500 KwH, or 7.1% quarter-on-quarter to 23 MwH of energy a year. Whilst businesses of all sizes have used more energy than last quarter, very large businesses that typically use over 100 MwH have seen the biggest increase.

Businesses in South West England and Southern England saw their energy usage increase the most (by 15.5% and 14.9% respectively). Yet, the biggest consumers of energy remain businesses in South Scotland at an average of 25492 KwH, followed by businesses in North Wales (24631 KwH), and Southern England (24565 KwH).

With fears regarding the widespread increases in fuel costs, UK businesses are committing to shorter energy contracts (down from 28 to 27 months). It is very large businesses that seem the most concerned, reducing their average contract lengths from 28 to 26 months.

“This quarter’s Energy Barometer Report clearly shows the impact of the recent geo-political instability in the Middle East with average bills increasing, and average energy contracts shortening as confidence wains,” adds Sheldrake. “Now more than ever, businesses should shop around if they are at the end of their contracts. Having said that, with murmurings of an end to the recent troubles finally being in sight, it will be interesting to see if average bills start to dial back naturally next quarter.”

Key findings
• Electricity bills have increased by 9.3% quarter-on-quarter
• Average bills are 6.3% more than the same quarter last year
• Businesses in South West England have seen their bills increase by 18.0%
• Energy usage has risen by 7.1% quarter on quarter
• The biggest consumers of energy remain businesses in South Scotland (25492 KwH)
• Businesses can save 2.7% by switching suppliers
• Average energy contract length is 27 months

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