The UK business energy market remains “stuck in the dark ages” – with just five percent of SMEs buying their energy online – according to analysis by Love Energy Savings.
The energy retailer’s findings* show as many as 95-97% of firms still shop for a new deal over the phone, rather than through a digital platform, at a time when domestic consumers regularly go online to secure the best value.
Phil Foster, CEO of Love Energy Savings, based in Bolton, Greater Manchester, says the market is “ripe for disruption”.
“With the rate of technological change in recent years, it’s astonishing that so many small businesses still buy their energy over the phone,” he says. “It’s like being stuck in the dark ages.”
Businesses face significant obstacles in shopping for an energy deal online – with most retailers not providing that facility – obliging them to ring up a call centre during working hours.
But Love Energy Savings’ self-service retail engine allows small businesses to switch suppliers with confidence at a time that suits them. They are unique in the sector by being completely transparent about price. Visitors to their website can compare all available tariffs and get a new deal in as little as four clicks of the mouse – freeing up precious time.
Phil says: “Energy providers don’t tend to operate outside nine-to-five, making it harder for businesses to buy or switch when convenient.
“And many don’t have the technological capabilities to enable customers to switch providers online outside those hours.
“In most other sectors, 24/7 online purchasing has become an expected part of the customer service experience. With demand for services that fit around the customer increasing, the business energy market can’t operate like this for much longer.”
Since 2007 Love Energy Savings has been dedicated to transforming the B2B energy market – providing crucial support to small businesses up and down the country by driving down bills – by an average of £1,067. During this time it has provided a landmark £100million in savings to UK businesses.
And by being completely transparent about price businesses can see at a glance all tariffs available to them, allowing them to make an entirely informed decision about their energy supply.
Phil adds: “The industry suffers from a real lack of price disclosure as many energy providers won’t attach prices to deals online because better deals are usually reserved for new customers or those that haggle,” he says.
“We’re an energy retailer so we display all the prices online and the customer can choose exactly the deal they’re getting, just like any other online shop.
“We’re also open twenty four hours a day – meaning that businesses can secure a new energy deal at a time that suits them – rather than between nine to five – when their efforts are best spent focussing on customers.”
Yet for those businesses who still prefer to discuss their requirements over the phone, Love Energy Savings also offers that option.
Phil adds: “If a company owner or managing director needs help in sorting out their business energy, a member of the customer support team is always available to offer support and guidance.”
