Thursday, 11 August 2011

SMEs missing best energy deals

Many small businesses are paying over the odds for energy due to complex tariffs and a lack of competition in the energy sector.

This is according to uSwitchforbusiness, who found the majority of small businesses responding to its survey think switching energy supplier is more complicated than switching bank account, broadband or phone provider.

Of the 1000+ businesses surveyed, 90 percent did not switch provider in 2010 with a further third saying they had never switched.

And 24 percent said the energy market was not competitive enough, with one in five saying they had concerns that a handful of corporate giants dominate the business market.

Two-fifths say that the business energy market is more confusing than the household market, and fewer than 15 percent believe Ofgem – the energy regulator – has done enough to ensure the energy market is competitive and efficient enough for SMEs.

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