Most SMEs expect energy costs to rise, research reveals


The large majority of SMEs are bracing for some significant hikes in terms of energy-related costs, a brand-new market research study has revealed.

According to the survey by price comparison site Make it Cheaper, nine out of ten SME owners (94%) believe that energy prices will go up in the near future, with two thirds (67%) expecting prices to increase by over 10% in the next year.

Furthermore, the same market study has revealed that energy bills are seen as the “most unfairly priced cost” for small businesses (28%) with fuel coming in second (21%).

Despite claims by the energy industry that bigger bills are down to increased taxes, only 11% believed them, with 45% blaming suppliers’ “determination to make a profit come-what-may”. Additionally, nearly a quarter (23%) of people said too much reliance on energy being imported into the UK was the most likely cause of energy price inflation, 11% blamed it on the government’s environmental subsidies included in bills while 10% said it is due to the lack of competition between suppliers in the energy market.

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