Britain’s beleaguered businesses face their gas bills doubling overnight, as a result of the ongoing energy crisis, the nation’s favourite energy retailer has warned.
The unprecedented rise – which could send thousands of firms to the wall – has sparked a record surge in demand for Love Energy Savings’ independent, impartial advice, with enquiries up 34% in November.
UK firms are particularly vulnerable to increases in wholesale prices as they are not protected by the Ofgem price cap that limits how much consumer bills can go up by.
For business customers the cost of a unit of energy has soared from around 15p when their previous contracts were signed to almost 30p today.
This means those firms who are coming to the end of their current contract could face their bills increasing by 100 per cent.
Love Energy Savings CEO Phil Foster (pictured) says: “Britain’s businesses are in for an energy bill shock like no other.
“The current crisis has sent costs spiralling, and without the safety net provided by the price cap, many firms are facing the biggest increase to their energy bills in their lifetime.
“Therefore it’s never been more important for businesses to be able to access support and clear, independent, impartial advice on the energy deals that are the best fit for them and benefit from an independent market comparison.
“At Love Energy Savings we take immense pride in having been providing vital support to small businesses up and down the country since 2007.
“During this time we’ve saved firms a landmark £100million by giving our customers an unrivalled choice of suppliers and tariffs.
“It’s why record numbers of firms have turned to us for advice during this crisis.”
