Report reveals UK companies paying more for electricity
The latest data from energy software provider POWWR reveals that the average UK business is spending £5,446 annually on electricity, a 5.5% increase from the previous average of £5,160. There is regional diversity, however, with businesses in North Wales paying 36% more for their energy than those in London (£6293 versus £4626).
The forth Quarterly Energy Barometer Report from POWWR also highlights the differences businesses are paying for their energy when they renew as opposed to if they switch supplier. It is found that businesses would typically save 6% by switching energy suppliers.
The report is based on almost 400,000 data points, and covers a variety of businesses, from boutique start-ups to large industrial and commercial organisations. As such, it provides deep insight into how much energy UK businesses are consuming, and what they are paying for it.
Despite increased environmental awareness, the report found that energy use has actually increased this quarter by 4.1%.
“This is surprising,” comments Matt Tormollen, CEO at POWWR. “We usually expect to see businesses decrease their energy usage during the summer months due to a mixture of holidays and better weather.”
The average UK business now consumes almost 24 MwH of energy a year. Business in Southern England are using the most energy (26562 KwH), and London the least (20808 KwH). The average contract length for UK businesses remains stable at 25 months, with only minor variances throughout the regions. Yet, the report finds that businesses are locking in future contracts up to two years ahead of start date. This is particularly true of smaller companies.
David Sheldrake, global SVP of Sales360 at POWWR:
“The latest POWWR Energy Barometer Report shows that despite energy costs increasing, it has been in line with energy use. Yet, for those looking to temper their costs, there may be deals to be had by switching energy suppliers. Whilst this is not something that is taken up by many, it will be interesting to see if this changes in the next quarter as businesses continue to look for ways to tighten their belt.”
