SMEs energy bill have risen by up to 500%

Article posted

27th Jun 2023

Read time

1-2 min read


Mollie Pinnington

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Research has recently found that several SMEs have seen their energy bill increase by a huge amount. In the midlands, this has been estimated to be between 167 -500%.

This has been due to rising inflation rates and unprecedented energy bill increases. Although the government have recently introduced schemes to help with energy bills, over 71% of businesses have expressed their concerns over how effective the help is.

This discount rate was lowered significantly in April, find out more about the EBDS here.

The price threshold to even receive support is very high and energy prices have fallen below that this summer, meaning that businesses are not even benefitting from the support at all.

What is SMEs doing to reduce energy costs?

To meditate on energy bills an influx of smaller businesses have started to look towards renewable energy generation technology with 86% of SMEs exploiting the potential for solar and other types of energy generation to use their energy and not have to rely on the grid.

Most small businesses want to introduce determination to reduce energy bills, however, costs are becoming a major barrier for many businesses. Rising energy bills pose increasing threats to businesses across the region.

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