POWWR reveals UK businesses are spending more for their energy

[Manchester, 17th October 2024] – POWWR, a respected energy software provider, today reveals that what the average UK business is spending annually on electricity has increased by 5.5% from £5160 to £5446. There is regional diversity, however, with businesses in North Wales paying 36% more for their energy than those in London (£6293 versus £4626). 

POWWR’s forth Quarterly Energy Barometer Report also highlights the differences businesses are paying for their energy when they renew as opposed to if they switch supplier. It is found that businesses would typically save 6% by switching energy suppliers.

The report is based on almost 400,000 data points, and covers a variety of businesses, from boutique start-ups to large industrial and commercial organisations. As such, it provides unprecedented insight into how much energy UK businesses are consuming, and what they are paying for it.

The report shows that despite increased environmental awareness, energy use has actually increased this quarter by 4.1%. “This is surprising,” comments Matt Tormollen, CEO at POWWR. “We usually expect to see businesses decrease their energy usage during the summer months due to a mixture of holidays and better weather.”

The average UK business now consumes almost 24 MwH of energy a year. Business in Southern England are using the most energy (26562 KwH), and London the least (20808 KwH).

The average contract length for UK businesses remains stable at 25 months, with only minor variances throughout the regions. Yet, the report finds that business are locking in future contracts up to two years ahead of start date. This is particularly true of smaller companies.

“The latest POWWR Energy Barometer Report shows that whilst energy cost has increased, it has been in line with energy use. Yet, for those looking to temper their costs, there may be deals to be had by switching energy suppliers,” adds Tormollen. “Whilst this is not something that is taken up by many, it will be interesting to see if this changes in the next quarter as businesses continue to look for ways to tighten their belt.”

Summary of key findings

• UK business’ average spend on electricity has increased this quarter from £5160 to £5446
• Companies in London pay the least (£4626) for their energy, those in North Wales pay the most (£6293)
• Businesses could save 6% on average by switching energy suppliers
• Businesses are using 4.1% more energy than they were last quarter
• Business in Southern England use the most energy (26562 KwH), and London the least (20808 KwH)
• The average energy contract length remains at 25 months

To access the full POWWR Quarterly Energy Barometer Report please click here.

About POWWR

POWWR is a cloud-based software provider for the energy and utilities sector. Its advanced platforms and simple solutions help over 45 energy suppliers and more than 1,100 brokers across the United States and the United Kingdom win more deals, manage risk, and grow their businesses. The company was previously known as UD Group in the United Kingdom. For more information on POWWR, please visit https://www.powwr.com/ or contact Jo Forsdike at jo.forsdike@powwr.com.