We’re pleased to announce the launch of our latest Energy Health Check tool- designed especially for UK businesses.
2020 has seen British businesses go through unprecedented economic uncertainty. In the midst of the pandemic, we are seeing owners faced with difficult financial decisions. From redundancies to closures, there is a great sense of urgency for businesses to save money and reduce costs.
The oversight of energy costs
But within that urgency has been some oversight. One area of money saving that gets surprisingly overlooked is energy usage.
In a recent Yü Energy survey of 500 businesses, we found the most common saving methods for businesses to be:
- Reducing staff (36%)
- Reviewing expenses (35%)
- Cutting back on marketing (30%)
Why is the nation not reviewing their energy usage?
Our figures have shown that UK business owners are not always the savviest when it comes to their tariffs and suppliers. In fact:
- 21% have confessed to not knowing who their energy supplier is
- 25% disclosed that they are unaware what energy tariff they’re on
- 26% have no idea when their current contract is up for renewal
We also found that 1 in 5 businesses have nothing in place to measure or reduce their daily energy use. A further two- fifths of businesses are unaware of their Energy Performance Certificate or EPC rating. Those with a better EPC rating (A-C)save an average of 38% or more on their electric and 32% on their gas bill compared to those with a lower rating.
Being unaware of your energy costs could be costing your business a lot more than you think.
What it could be costing your business
Businesses overpaying for their energy bills often comes down to a lack of awareness of just how much they could be saving.
How much does a typical business overpay?
Our survey has further shown that the typical business could be overpaying on their electricity bill by a massive 44% and their gas by a staggering 65%, by being on a deemed tariff or out-of-contract rates. Despite the potential for such savings, 40% of business owners admit to not having changed their energy provider in the last three years.
Imagine how much money could be saved by simply taking the time out to compare your bills.
How the Energy Health Check tool works
Our Energy Health Check tool has been designed to give businesses a visual guide of their daily, weekly, monthly or annual energy usage. They are then able to compare it to other businesses of a similar size and sector, to see if they could potentially be saving.
What we have done
We have analysed thousands of energy records across a range of different sectors. We are then able to calculate whether a business is using excessive amounts of energy for its size and type, in just a few short clicks.
Here’s how simple it is to check out your usage:
- Tell us what you’d like to compare and how much you use
- Pick your business and sector size
- Give us a few more details about your business
- Get your results
Final energy-saving steps
After viewing their results, businesses will be able to contact the Yü Energy team to discuss their quote. Using the tool aids businesses in identifying how they can save through switching suppliers or reviewing their energy polices- across a range of sectors and business sizes.
But don’t just take our word for it- use the Energy Health Check Tool and check the savings for yourself!
You can also check our our Energy saving guides to discover more money saving tips and more ways to save.