Do you know what the term ‘deemed pricing’ means on your energy bill?
Well you’re not alone, as neither do three quarters of UK businesses, according to a recent survey.
Along with a number of other phrases, the survey found firms couldn’t explain that being on a ‘deemed price’ contract means paying a higher price for energy compared to normal contract rates.
One Poll, which carried out the research commissioned by British Gas, found more than half of businesses in the UK believe energy suppliers use too much jargon.
About 24% of businesses say they also spend too long dealing with their bills and contracts because of the language used by the suppliers.
The survey claims more than a third of businesses want the energy industry to publish guides on managing energy in simple and easy to understand language.
Marie Claire from the Plain English Campaign, which has launched an online guide alongside British Gas to help companies better understand their energy contracts said: “In this tough economic climate, we know that business owners are desperate to fully understand the contracts they have with their suppliers and to feel assured they can get the best deal.”
The research also showed 63% of businesses cannot fully explain the term ‘out of contract’ and 64% cannot explain ‘standing charge’.