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Why energy prices often rise during winter

By : Chris Tipping |December 11, 2017 |Energy, Energy Blog |0 Comment

If you have ever been responsible for paying the electricity or gas bills for your home or business then you no doubt know that the winter months always add a significant increase to the amount you have to pay.

There are practical reasons for this, particularly the increased need for heat and artificial light during the coldest and darkest time of the year. We consume more energy during winter so it makes sense that we end up paying more for what we use during this time. But many people will also discover that their rates for energy usage increase during the winter as well, increasing the burden of the winter energy bills.

But while it may appear to be a blatant cash grab by the energy companies to increase the rates during the period when the most energy is consumed, there is actually a reasonable explanation why there should be at least a small increase in the amount we pay during winter. (more…)

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Ofgem extends energy price cap to 1m more vulnerable customers

By : Chris Tipping |November 27, 2017 |Energy, Energy Blog |0 Comment

Another one million energy customers will benefit from the price cap on their bills during the upcoming winter, the energy regulator Ofgem has announced. The government had already announced plans to introduce a price cap which would help millions of people, with the potential for new legislation to be drawn up which forces energy suppliers to cap their prices.

Such legislation would also oblige Ofgem to monitor and enforce the new law, as well as handle any legal challenges to the legislation mounted by the energy companies themselves.

At the moment, the government’s plan will only affect energy bills based on standard variable tariffs, which are the relatively poor value rates which can have detrimental affects on the vulnerable and those whose energy supply options are limited. It has been noted by the government that many of those at risk from being overcharged by these standard variable tariffs are loyal customers who prefer to stay with the same energy supplier.

It is currently estimated that two thirds of the UK’s domestic energy consumers are on standard variable tariffs. (more…)

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Government has “duty” to stop energy firms overcharging customers

By : Chris Tipping |November 22, 2017 |Energy, Energy Blog |0 Comment

The government’s Business Secretary believes parliament has ‘got a duty’ to the people to prevent energy firms from overcharging them for gas and electricity. With the winter months on the way and the temperatures already dropping significantly, the government is aiming to put a price cap on what energy firms can charge so millions of vulnerable people are not left paying unnecessarily over-inflated bills. (more…)

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Energy consumers choosing price over sustainability

By : Chris Tipping |November 10, 2017 |Energy, Energy Blog |0 Comment

Research into British energy consumer habits has revealed that the vast majority of people still prioritise the price over the source or sustainability of the energy. With many new energy suppliers offering alternative options to the established powerhouses of the British energy industry that often include energy acquired from renewable sources, it seems most of the British public remain unconcerned by the type of energy they consume.

Studies Show Traditional Energy Suppliers Still Dominate

Studies conducted by Echo Managed Services, which surveyed a nationally-representative sample of a thousand UK residents, revealed that only one in ten energy consumers took the ethical or sustainable credentials of the energy company into their considerations when choosing a new gas or electricity supplier.

The number does rise significantly to 12% of the thousand surveyed when asked if a particular energy company’s ethical activities would be likely to entice them to sign up. This quite smaller number believed signing up with an energy supplier who exhibited corporate social responsibility would be worthwhile even if it cost a little more overall.

While we should consider it a positive that a significant if still rather small portion of the UK’s energy consumers are seriously considering making their energy supply choices based on ethically sound activities such as the generation of energy from renewable sources such as solar, wind and hydro power stations, it should also be noted that that large 88% still only think about the price. (more…)

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Energy bosses support price-capping

By : Chris Tipping |November 02, 2017 |Energy, Energy Blog |0 Comment

The government’s plan to introduce a price cap on energy prices this winter has obviously caused a lot of consternation amongst the energy suppliers whose profit margins will suffer as a result. Winter is the coldest and darkest time of the year and thus people use far more artificial light as well as a lot more energy keeping their homes warm. It is peak season for energy suppliers, so capping the amount they can charge was always going to be met with some hostility from the industry.

However, not all energy companies see the price cap as an infringement upon their right to make as much money as possible off their customers.

Not All Energy Bosses Are Against Price Cap

The founder and Managing Director of Ovo Energy, Stephen Fitzpatrick, has spoken publically of his endorsement for the price cap proposal, even using his own company’s website to outline the reasons he believed a price cap was a good idea.

Mr Fitzpatrick said that he believed the Conservative Party’s commitment to introduce new legislation that protected customers on standard variable tariffs was a bold and ambitious move.

“Eighteen years of light-touch regulation has not delivered an energy market that works for most customers,” he declared. “The standard variable tariff cap will not harm consumers or competition, but act as a catalyst for innovation and efficiency amongst suppliers. It will be painful for some companies, especially those currently taking advantage of customer disengagement, but it will offer consumers a safety net, protecting them from some of the worst practices of the industry whilst still allowing innovative suppliers to compete.”

Customer Disengagement Mistaken for Loyalty

That ‘customer disengagement’ is one of the primary motivators for the government’s intervention. Research conducted by the government’s Competition and Markets Authority revealed that so-called ‘loyal customers’ were being overcharged by a collective £1.4 billion per year.

While many of the people in this group are possibly intentionally staying with one energy supplier for what they understand to be good reasons, a great many more are likely not loyal at all, but simply disengaged and unaware of the possibilities of switching energy suppliers and getting a less expensive rate. The price cap will protect these people the most, among whom are some of the country’s most vulnerable energy consumers such as the elderly.

Price Cap Proposal ‘Entirely Different’ From Price Freeze Principle

Mr Fitzpatrick also pointed out the difference between the price cap and a price freeze. He continued, “The policy of the [Standard Variable Tariff] price cap is entirely different from the price freeze principle. It will set a ceiling on retail prices based on underlying market conditions, allowing headroom for efficient companies to operate profitably.

“It is the most efficient way to ensure customers are treated fairly. This policy will lead to lower average prices across the industry, saving customers hundreds of millions of pounds.”

If you would like more information about the different energy suppliers available to you and how you can make the switch to a better deal, get in touch with Business Save’s team of highly experienced energy experts who can advise you on the best way to reduce your energy bills this winter.

 

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How to Save Energy when Using Industrial Motors

By : Chris Tipping |October 13, 2017 |Energy, Energy Blog |0 Comment

A significant amount of many businesses’ energy consumption comes from the electricity needed to power the variety of electrical motors which conduct many of the operational processes. It is often an overlooked area of energy consumption because of how important the motors are to the everyday operations of the company.

Because of the crucial need to power these motors, the energy used by their operations is often just chalked off as necessary. But there are ways to reduce the energy needed to power motors, or even just identify a tariff that benefits the type of electricity usage a particular business needs. (more…)

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Why Renewable Energy is Important for British Businesses 

By : Chris Tipping |October 06, 2017 |Energy, Energy Blog |0 Comment

It is often assumed that investing in renewable energy technology is an expensive venture, but it is actually more cost effective than many people think. Solar panel systems and wind farms are already being utilised to feed energy into electricity grids all over the world, and the same is happening more and more in the UK.

There is still a long way to go, but with emerging technology making it less and less expensive, the energy providers who extract a significant portion of their energy from renewable sources will soon be able to consistently offer lower and lower rates.

Renewable Energy is an Environmental Necessity

There is a finite amount of fossil fuels that can be used to fuel our industries, and one day in the not too distant future they will run out. There will also be something of a domino effect once one of them runs out, as running out of one of the three main fossil fuels will then accelerate the depletion of the others as the shortfall of one is compensated with increased extraction of the others.

Once the local supplies are exhausted, Britain and its businesses will be forced to pay a premium to import the likes of gas and oil from other countries who still have supplies, unless they have already adopted alternative energy sources. (more…)

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Six reasons businesses should compare the energy market to find the best deal

By : Chris Tipping |October 02, 2017 |Energy, Energy Blog |0 Comment

There are many businesses in the UK that are not maximising their energy usage by switching to a supplier that offers a more favourable tariff. There are many good reasons why comparing the market is a good idea, so here are six of the best.

Reduce Bills

Different types of businesses will have very different energy costs due to the variety of factors that affect them. Some will consume a lot of energy in the natural operations of the business, while others may have a larger amount of staff who use a lot of energy between them. For this reason, it’s difficult to say exactly how much can be saved by each business type, so comparing the variety of tariffs on offer from the different energy companies can potentially reveal an opportunity to massively reduce a company’s energy expenditure.

Easier than Ever

Most people running businesses are likely rushed off their feet for most of the week, if not all of it, so finding time to sit down and search through all the different energy tariffs and calculate which one suits their company’s needs the best can be difficult. However, the many energy comparison calculators that are available online these days, such as Business Save’s own easy to use energy comparison tool, make it a much simpler task that won’t take up too much valuable time.

No Hassle

The switch itself from one energy supplier to another can take a few weeks to be completed, but it is the new energy supplier that will take care of all the necessary arrangements, leaving the business owner free to continue running the business, while looking forward to greatly reduced energy bills.

Smart Energy Use

One of the options businesses will come across when comparing energy deals is the option of installing a smart meter. These will inform the business of exactly how much energy is being used in real time, transmitting the data to the energy company so that the business is only ever charged for the exact amount of energy it consumes. This means the business can make decisions regarding energy usage which can directly affect how much they end up paying on their bills.

The British government is actually hoping to have the majority of businesses and homes in the UK using smart meters by 2020, so making an energy supplier switch is the perfect time to get involved in this nationwide energy-saving movement.

Identify the Ideal Tariff

It’s also very possible that a business doesn’t actually need to switch energy suppliers, but simply change to a different tariff that is more beneficial to the way the business operates. For example there are tariffs which charge a higher rate for morning and afternoon energy consumption, but a much lower rate for evenings and weekends. Such a tariff is obviously very beneficial to a bar or restaurant business who primarily operate during evenings and the weekends.

Green Energy

Many businesses will benefit from being able to demonstrate to their clients and customers that they use as much renewable ‘green’ energy as possible. If a company can identify an energy supplier that is committed to supplying a significant percentage of its energy via renewable means, then switching to this supplier can give a business a boost in these modern times when environmental awareness is stronger than ever.

If you want to learn more about the benefits of comparing the energy market, get in touch with Business Save’s dedicated team of highly experienced energy experts.

 

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Save your business money this winter with these energy-saving techniques

By : Chris Tipping |September 29, 2017 |Energy, Energy Blog |0 Comment

Winter is definitely on its way! As poor as the weather is during the winter months, it’s usually the extra expenditure on energy bills that stings the most. This is especially true for a business whose running costs can go through the roof.

There’s the extra heating required to keep the staff and customers comfortable for starters, plus the additional lighting that is needed as the natural light available diminishes. The good news is that there are plenty of ways a business can save money with some energy saving techniques which keep the additional winter bill costs to a minimum. (more…)

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How Brexit Will Effect Britain’s Renewable Energy Strategy

By : Chris Tipping |September 22, 2017 |Energy, Energy Blog |0 Comment

Much if the UK’s environmental policies have been set in place according to the EU’s own directives covering all of its member states, so where does this leave Britain’s renewable energy strategy once Brexit has been completed?

Below we discuss the three main environmental policies affected by Brexit and what effect they might have on British businesses. (more…)

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