Business secretary Hutton warns that cheap energy is no longer available in the UK – E4B’s Graham Paul claims otherwise
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by: Emma Churchill
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This call comes after the second round of price rises by the ‘big 6’ electricity suppliers just this year alone. This means that many households and businesses alike are struggling to pay their bills and many are being plunged into fuel poverty.
However, sales and marketing director, Graham Paul of leading independent electricity supplier to businesses E4B argues that lack of cheaper energy choices is not necessarily the case. ‘This year has witnessed the largest gas and electricity price rises in recent years which has driven both domestic and commercial customers away from the larger suppliers in order to find the most competitive prices – which are still available.’
Mr Paul then went on to outline that for SMEs, shopping around is now considered part of the normal purchasing cycle. As small businesses are already faced with enough economic pressures, the additional strain of the big 6’s price increases have not come at a good time. It is therefore more a case of needing to shop around as a matter of survival.
In the same letter, Hutton also called for more transparency surrounding the reporting of profits made by the major electricity suppliers. This follows several of the big 6 announcing record profits just as more customers fall into fuel poverty and are left at risk of being disconnected.
An example of this was in August when E.ON reported a net income rise of 8% during the first half of 2008, when compared to the same time last year of 8% to £2.3bn. This announcement came just a week before E.ON increased tariff prices by 16% for electricity and 26% for gas(1).
Due to the recent round of price rises by all of the big 6, Mr Hutton specifically recommended that suppliers publish the amount of profits made. So that the public will be able to clearly see how much these suppliers are really making from their rising tariff prices.
So that the public will be able to clearly see how much these suppliers are really making from their rising tariff prices.
(1) - Available at: http://news.bbc.co.uk/1/hi/business/7575264.stm
About the Author
Headquartered in Milton Keynes, Electricty4Business (E4B) is a supplier of cheap business electricity for the small and medium sized business market. E4B is Britain’s no. 1 independent electricity retail company, targeting businesses that traditionally spend less than £10,000 per year with their current energy supplier.
The company’s aim is to cut the cost for British business by offering lower electricity prices. E4B has cut out waste and bureaucracy to provide a better service at a lower price. E4B focuses on providing SMEs with a hassle free and simple service that helps them to more effectively manage their costs, save time and reduce expenditure.
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Emma Churchill
Electricity4Business
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