Top 3 Reasons People Don't Switch Their Energy Supplier

Three reasons businesses overspend on energy

Excessive energy charges are an all-too-common issue for business owners. When you’re running an organisation, you don’t want to be wasting hard earned money on unnecessary costs. If your energy bills seem pretty high, it could be due to one of the factors covered in this blog.

Last year, Great Annual Savings Group saved new North East customers an average of 21% on their energy bills by identifying and rectifying causes for excessive prices. So where can you make this kind of saving and what’s making your costs so high?

1) Inertia – A common trend we see with over-paying businesses is refusal to switch supplier. Sometimes it can be a little daunting to change your energy supplier when you’ve stuck with them for several years. There is a misconception that if you remain loyal to a supplier, you will receive the best deal. The need for consistent acquisition means that most energy suppliers will actually offer potential new customers a better deal.

“We need to shout loud about the benefits of switching tariff. Too many people think energy firms are ‘all the same’. That’s far from true, there are huge differences on both price and customer service.” – Martin Lewis, Money Saving Expert (Gov.co.uk).

2) Inefficiency – When bills appear high there’s a chance your energy is being wasted somewhere. Whilst your building will never be 100% energy efficient, there are several factors/ methods that can improve it as much as possible. A scenario we’ve encountered several times is offices/schools ventilating their server rooms to 18°C when 22°C may suffice. Before you can decide what actions should be implemented, you need to accurately identify where & how your energy is being wasted.

Have an energy specialist identify weaknesses in your efficiency and use Monitoring & Targeting systems. They can identify inefficient units, machinery and, practices, saving you thousands at no expense.

3)  Industry experience – Cutting out the middle-man will surely save some money, so going to the supplier might seem like the most direct route. However, a lot of businesses are signed up to deals that appear to be of good value but may not be suitable.

READ MORE | WHAT REALLY MAKES UP MY ENERGY BILL?

Some contracts don’t consider the company’s type, location, and energy habits. Without insight and experience of the energy industry, you might end up accepting a deal that isn’t in your best interests long-term.

Speak to an account manager who deals with diverse businesses every day, with the experience to approach each one holistically and on a bespoke level.

At GAS, we have the expertise to identify what is the best deal for you. We can deliver a full energy audit that can help you understand your business’ habits and requirements, so you can get the right package. We know when it’s time to think about switching supplier, or to explore alternative options, such as renewables or green energy. We know when a longer-term deal can make more sense, to avoid hidden charges and price spikes.

To find out more about how Great Annual Savings Group can help your business save money, call us today on 0800 130 351 or leave us a message and a member of the team will be in touch.

 

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Paul JohnsonGroup Financial Director

Paul Johnson is very much a home-grown talent.

He joined Great Annual Savings Group in its infancy, fresh from a youth career as a professional footballer with Hartlepool United.  He quickly established a reputation within the business and aced all required accountancy qualifications in the space of four years to become the Group’s Management Accountant.

Several successful projects later, Paul was promoted to Head of Finance.  When the former FD left GAS, he took on the mantle of the business’ most senior finance professional; boasting a string of incredible achievements all under the age of 30.

Quote:

“I have witnessed phenomenal growth at the Group over the many years I’ve worked here and I’m looking forward to guiding the Group into an exciting new chapter.”

Interesting fact:

Paul made his professional debut for Hartlepool United against Bournemouth in the Football League.  Some say Danny Ings still resides in his pocket to this day.