Why businesses in this sector are struggling with energy bills
The energy crisis has already hit the hospitality sector hard, and the reduction in energy support at the beginning of April has added another layer of difficulty for businesses in this industry. From restaurants and cafes to hotels and bars, many have found themselves struggling to keep up with their energy bills.
This sector is particularly dependent on energy bills as they spend on average over £1 billion a year on energy. Not only are high energy costs affecting the hospitality sector, but also issues with energy suppliers that is causing a strain on these businesses. Last year many smaller businesses within the hospitality sector were locked into higher prices when the cost of energy was at its peak. These businesses are now stuck in fixed-rate contracts with extortionate exit fees.
Although Ofgem has assured us that they are looking into this issue, it is still best that businesses within this sector are proactive when it comes to their energy bills.
How has this affected these types of businesses?
The hospitality sector’s rising energy bills has caused many businesses to struggle to stay afloat. With the cost of energy skyrocketing, organisations have been forced to make difficult decisions, such as reducing their opening hours and services. This has not only led to these businesses losing money but also long-standing customers.
Find out more here about how this industry has struggled with high energy prices.
What can hospitality businesses do to help with energy bills?
The cost of energy can be a major expense for businesses, and those operating in the hospitality sector are finding themselves, particularly hard hit. However, the good news is that there are options available for those looking to reduce their energy bills.
From simple changes like installing energy-efficient lighting and appliances to more significant investments in solar or wind power, there is a range of solutions to suit different budgets and requirements.
Not only can these changes help to save money, but they can also have a positive impact on the environment – making it a win-win situation for all involved. So, if you're looking for ways to cut costs and reduce your environmental impact, explore the different options available to you and take action today.
Make sure you are on the right contract.
Managing energy costs can be a daunting task, especially for hospitality businesses that require round-the-clock heating, cooling, and lighting. However, one way to tackle this challenge is by choosing the right energy tariff. With the plethora of options available in the market, it's important to do your research and find a plan that best suits your business needs.
If your business consumes a lot of energy all day and night, for example, hotels finding the right tariff can be especially hard. However, there are options for cheaper night rates that could bring down your costs a lot.
Compare and save today!
With our price comparison tool, you can save a huge amount of money on your energy bills. Online Energy has made it easy for businesses of all sizes to compare and choose the right energy supplier. With its uncomplicated cost comparison tool, you can quickly search through multiple energy suppliers and find the one that fits your needs and budget. Say goodbye to the hassle and frustration of sifting through confusing energy plans and high bills. Make the smart decision to switch to Online Energy and start saving today.
Energy savings practices are a great way to save money. Small changes can make a big impact, such as turning off lights in unoccupied rooms or adjusting the thermostat when no one is in the building. Implementing energy-efficient technology, like LED light bulbs or programmable thermostats, can also make a significant difference in lowering energy bills. By incorporating these practices into your business, you not only save money but also contribute to a more sustainable future for our planet. See more here on how energy-efficient practices could impact your business.