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5 Feb 2024

The Federation of Independent Retailers (the Fed) has expressed alarm at new figures that show shoplifting at its highest level in 20 years.

5 Feb 2024

A brand-new festival is being launched next month is “all about community and breathing life into the High Street”, according to Mark Kacary, managing director of The Norfolk Deli in...

5 Feb 2024

The retail sector has been responding to government plans to ban disposable vapes as part of plans to tackle the rise in youth vaping.

23 Jan 2024

Bakers, butchers, cheesemongers, delicatessens, fishmongers, greengrocers, village stores and small farm shops from around the UK have been shortlisted in the Farm Shop and Deli Retailer Awards...

23 Jan 2024

An interesting article has appeared in Forbes reflecting many of the issues that Indie Retail & ActSmart members will be experiencing – the challenges and...

22 Jan 2024

Eight in ten small business owners (81%) are planning to develop their companies in 2024, according to new research from Novuna Business Finance. The research shows that over a third (33%) are...

22 Jan 2024

The Times has named 12 of the UK’s best independent bookshops — as chosen by its readers. Readers highlighted places that combined books with a friendly and welcoming atmosphere....

22 Jan 2024

The British Independent Retailers Association is championing the high street again this Valentine's Day for the second consecutive year with its #LoveYourHighStreet campaign.

10 Jan 2024

Nads Store, a family-run shop in Law, Lanarkshire, has been named Community Retailer of the Year at the Scottish Asian and Business Awards ceremony for the second year running.

10 Jan 2024

In the face of the escalating threat of loan fee fraud, the British Independent Retailers Association (Bira) is urging its members to heed the Financial Conduct Authority's (FCA) recent guidance...

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Eight in ten SMEs being overcharged for their energy

Posted on in Business News , Cycles News , Creative News, Outdoor News

‘Big Six' energy providers charge more to SMEs than bigger businesses - 80 per cent of Britain's small businesses are overpaying.

Small businesses are being urged to switch to cheaper tariffs, after it emerged the ‘Big Six' energy providers charge more to SMEs than bigger businesses - and that a staggering 80 per cent of Britain's small businesses still haven't switched.

British Gas said last week it would hike electricity prices on its standard tariff by 12.5% from next month. The five other big suppliers - E.ON, Scottish Power, npower, EDF Energy, and SSE - have come out with similar increases. Industry analysts forecast further rises this winter, with the average annual cost of dual-fuel standard tariffs from the ‘Big Six' predicted to rise by between seven per cent and ten per cent.

‘Enough is enough,' says Phil Foster from Love Energy Savings.

‘It's time to take action to stop profiteering by the ‘Big Six' energy companies at a time when wholesale energy prices are falling. With British Gas becoming the latest to increase their prices during 2017, it's more important than ever that businesses review their energy costs to ensure they are on a contract that is working for them. Wholesale electricity prices have fallen slightly during 2017 and changes in the market offer plenty of potential for businesses to shop around for a better deal on their energy costs.'

His plea comes as it was revealed that more than three million households have switched supplier this year - an increase of 14 per cent. However, those taking advantage of switching are still in a minority, with seven out of ten households overpaying.

Phil Foster explains the situation was even worse for small businesses, with eight out of every ten SMEs paying too much. The data was reveals in a report last year by the Competition and Markets Authority, which showed that the vast majority of SMEs were still on standard tariffs.

Phil Foster adds, ‘That bills will continue to rise is becoming increasingly inevitable and failing to review your bills and find a tariff that offers you the best value for money can have significant impact on your business's bottom line. The gap between the ‘Big Six' companies' fixed price deals and their standard variable tariffs has already widened by more than half since November.'

Reduce your costs with LSI

ActSmart is pleased to announce we have partnered with LSI Energy to offer every subscriber the chance to save money on their electricity, gas and water expenditure.

Every business is eligible to receive a free of charge, independent review of the energy market to see how much they could save.

One subscriber recently saved £750 a year on their new energy contract with LSI - see how much you could save, get a free quote today!

 

 

 

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