Are You Paying Too Much for Gas, Electric and Telecoms?
You are probably aware
of the recent price increases for consumer
energy bills, but are you aware that 90% of
businesses could save money on their bills,
even before the latest price increases take
effect.
A survey by commercial
utility broker Utility Watch has found that
whilst individuals tend to shop around for
the best energy deals, most businesses do
not; often citing the time pressure involved
in doing so. Businesses tend to lack
knowledge on supply side contracts (58%),
and commonly accept existing contracts
without questioning them (39%). They also
suffer when contracts have already been set
up by landlords.
With telecoms bills,
businesses were more likely to shop around
but too often missed the best deal, agreeing
to cheaper contracts without checking the
specifics such as minimum call fees and
connection charges.
Less than 9% of those
surveyed were aware that independent
comparison services exist and that the
initial cost comparisons were often free.
Says Lance Pearson,
Sales Director of Utility Watch, “The media
is focusing on how this affects the
individual and their daily lives. However,
the most significant knock on effect is with
businesses.
“The gradual increase
in utility bills has been felt by companies
within the UK for some time and they have
adjusted and amended their finances
accordingly. However, with only three months
until the new financial year, where are they
going to find the extra money?"
Greg Shepherd, Director
and founder of Utility Watch added, "It is
incredible that both commercial and public
sector organisations seem not to apply the
same approach to utility procurement as they
would do in buying IT or manufacturing
equipment.
"By adopting a similar
shopping around approach to the consumer
sector, the savings for commercial
organisations could be considerable. In many
cases, savings can be in the region of
twenty to twenty-five percent. However, few
realise that help in obtaining comparative
quotations is free. This is costing
commercial organisations dearly, and will
cost them more if they don't act now."
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