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Energy: Gas and electricity bills: 7 money-saving tips

Reading time: 3 mins

Even if you’re already taking steps to reduce your business gas and electricity bills, chances are that you could do more. Below is a handful of tips that could help you cut your energy expenses, which is all the more important in a time of rising gas and electricity prices.

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How to reduce your gas and electricity bills?

Too many of us accept the gas and electricity bills we are sent and pay without question. But there are many things that can be done to reduce them. Not only will you see instant savings on your home or business bills, but the changes you make now will help save you money for many years to come. Can you afford not to?

1. Switching providers or current deal. It is crucial that you take an active interest in your utility expenditure, especially for businesses that use a large amount of energy. Comparing business utility providers and investigating new tariffs, such as Dual fuel and Economy 7 deals, could generate instant savings.

2. Switching deals at the right time and not during price hikes.

3. Online billing. Many gas and electricity companies offer generous discounts for customers who sign up to online billing because it cuts supplier’s administration expenses.

4. Paying by direct debit often carries bonus discounts.

5. Pre-paid meters can help reduce business utility bills in certain circumstances, especially rented or low-occupancy properties, as you only pay for what you use.

6. Reducing the amount of energy you consume. This is by far the best way to reduce your gas and electricity billing for good and there are so many things you can do. Ensure that wastage is kept to a minimum by insulating and draught proofing doors, windows, lofts and floors, (there are many current schemes available to help you do this for free or with significant reductions). You can also look into investing in energy efficient appliances and remember to turn anything that’s not essential off when not in use.

7. Turning the temperature down by just 1°C may take off as much as 10% from your office utility bills.

The Energy Saving Trust is an excellent place to start for advice on cutting your gas and electricity bills and keeping up to date with current government subsidies and financial assistance.

Advice for business customers

Because businesses consume far more energy than your average residential customer, the stakes are higher and the money-saving potential is far greater.

Make sure that staff are educated on the importance of saving energy and put in place procedures to guarantee electricity and heating are not used needlessly. Switching to more sustainable energy will also help reduce gas and electricity bills in the future and there are a number of grants available to help support the costs businesses may incur whilst doing this. The Carbon Trust and Department for Energy and Climate Change are excellent places to research opportunities.

Many power suppliers will also have dedicated business accounts, and taking advantage of the special deals these offer could really help to reduce your gas and electricity bills. For example, you may be able to benefit from fixed pricing plans for up to three years, which don’t fluctuate with the market price.