Government support for business energy bills reduced from the first …

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By Sponsored Feature, Friday Mar 31, 2023 Businesses around Bristol have suffered from the impact of the energy crisis, and from the first
of April, the government support on energy bills will largely be withdrawn. This article explores what happens next for business energy prices and what businesses can do to reduce their bills. Wholesale energy prices
The conflict in Ukraine in early 2022 triggered an unprecedented energy crisis.

At its peak, the wholesale cost of electricity and gas was 500% more expensive than its historical norm. Happily, the start of this year has seen a significant easing in energy prices, with rates predicted to fall back to normality by the end of the summer. Government support on business energy bills
The government stepped in to protect businesses from the worst of the Energy Crisis with a scheme to automatically discount bills from business energy suppliers. From Saturday, 1 April, the current scheme (known as the Energy Bill Relief Scheme) ends and will be replaced by a much less generous discount scheme.
With the falling wholesale energy prices, most businesses will not receive any further support from the government. Business utility experts AquaSwitch, provide two bits of advice to managing energy costs going forward:

Becoming more energy efficient
Using energy efficiently is beneficial because it reduces energy consumption, directly saving money on utility bills, and reduces your business’s carbon footprint. Here are three quick tips that will immediately lower energy bills:
– Eco-mode: Many modern appliances, like dishwashers and washing machines, have eco modes that use less electricity, although they may take a little longer to run.
– Smart timers: Commercial printers and other devices use power even when on standby. You can save energy by configuring their settings to turn off after hours.
– Use natural light: With the days getting longer, it’s the perfect time to take advantage of natural light. Make sure windows aren’t blocked to reduce the need for electrical lighting!

Compare the market for business energy suppliers
Now that government support is being withdrawn, it’s now important to ensure your business is on a competitive energy tariff. In the commercial energy market, many different suppliers are competing to offer the best rates.
If your business is currently out-of-contract, you can make huge savings by signing up for a cheaper fixed-rate energy deal. Use a business electricity comparison or business gas comparison website to quickly find the
best deals available for your business. In commercial energy, there isn’t a price cap to protect companies from expensive, standard variable rates.

We recommend acting now to secure cheaper rates for your business.