This is all good news. But while switching supplier may be something that is relatively easy to implement and see the savings, there is another side to reducing energy costs that can provide savings of a similar order.
According to the Carbon Trust, typically, 20% of a business’ annual energy costs are due the use of energy inefficient equipment. A British Gas survey of 6000 smart meters showed 46% of SME total electricity use is out of hours between 6pm and 8am. There are claims that many industrial installations are seeing a 50% reduction in efficiency from heat loss due to poor or missing pipe lagging, and up to 60% of an offices heat is lost through the fabric of the building.
Apart from the obvious financial savings to be made by reducing or resolving these losses, there is The Carbon Cost Reduction Commitment Scheme charging levies on all businesses in an attempt to reduce the UK’s carbon footprint, and of course the general desire in us all to reduce emissions and lessen our impact on the environment.