Combat big increases in energy bills

Companies whose energy contracts are up for renewal should shop around early to mitigate the impact of huge price rise, according to Utility Auditing.

Those companies whose energy contracts are up for renewal this spring should shop around early to mitigate the impact of huge price rise, according to Manchester based energy management business Utility Auditing (UAL).

"Prices have risen by as much as 60% in the last year and by up to 100% over the past two years, so many companies will have some major cost increases to absorb", says Paul Backx, managing director of UAL.

His advice is to test the market to try and find a more competitive deal and to seek professional advice to ensure you are on the right tariffs and aren't paying for excessive supply capacity.

"Companies should start testing the market as soon as possible", says Paul.

"Energy and gas are traded commodities and prices tend to spiral at peak buying times, such as the spring contract renewal period, so the sooner businesses start acting the better".

"Companies should also build in time to observe cancellation notice periods with their existing suppliers - to avoid being locked into uncompetitive contracts".

Businesses spending in excess of £50,000 per year on energy can also benefit from free Carbon Trust surveys, which will typically show the company how to stem wastage and cut bills by up to 20%.

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