High energy bills could force businesses to shut

Rising energy costs could force people out of business, according to an energy comparison site. This follows a 58% rise in business energy prices since 2010. The Business Energy Barometer report, […]

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By Priyanka Shrestha

Rising energy costs could force people out of business, according to an energy comparison site. This follows a 58% rise in business energy prices since 2010.

The Business Energy Barometer report, published by Business Juice, states that in a survey of 500 businesses, one in twelve people said if energy costs kept rising by 25% every year, it would have a serious impact on businesses.

It also showed 56% of businesses plan to switch their energy supplier within the next year and most said they already have or would consider boosting their energy-saving policies.

James Constant, Managing Director of Business Juice said: “This inaugural survey clearly shows the deep concern being felt by businesses across the UK about rising energy prices. The number of businesses planning to change supplier compared to those who have historically changed is very high. With so many stating that rising energy prices will have a serious if not catastrophic impact on their business, it is imperative that all businesses pay close attention to their energy bills and consider what efforts they can take to manage their energy risks.”

Business Juice has launched an online community to raise awareness around business energy.