SMEs are wasting £82m annually on surplus energy

Small businesses across the UK are overspending on their energy bills by an incredible £82 million annually, according to new analysis.


The Energy Efficiency Financing scheme looked into energy usage at firms and discovered that a mix of old equipment and inefficient technology is leading to unnecessary expenditure.


The scheme is a joint initiative between Siemens Financial and the Carbon Trust and the study focused on key industries in an effort to get a broad view of the market.


The analysis concluded that energy savings of up to £414m could be achieved annually by the UK’s services sector, with the £82m figure applying to the nation’s SMEs.


Information relating to the use of hot water, lighting, heating, cooling and ventilation systems was all considered, alongside any other aspects that could impact upon a firm’s energy consumption.


The need for firms to invest in more energy-efficient equipment was particularly paramount, as ineffective equipment was one of the main factors causing higher bills.


Firms looking to save in the long term could invest in greener technologies such as solar panels, low energy lighting and low carbon air conditioning.


Although some of these systems can be costly to install, the savings that are possible in the long-term mean many companies could stand to benefit.


The EEF scheme has existed since 2011 and aims to make such technologies more accessible and more affordable.


Opting to make these additions should enable small businesses not only to save money, but also to be more competitive.


It also enables a business to be more environmentally responsible, a factor that is increasingly in the public eye.


Firms are encouraged to keep a watchful eye on their energy spending and to manage their accounts carefully to ensure they do not face financial difficulty.


Alternatively, a restructuring could help to remove unnecessary expenditure and to streamline the business so that it operates as efficiently as possible.


By Phil Smith


If you would like to have a free no obligation chat with one of our advisers please call us on 0207 186 1144.


View all Business Insights