Prices to Double for Business Electricity Users

According to recent reports, energy costs for business electricity customers in the UK will likely double in order to make construction of new nuclear reactors affordable. It is estimated that energy suppliers will need to raise prices to meet the required £100 for each megawatt hour used. This is more than twice the price that UK businesses are paying now. This cost increase is deemed necessary in order to pay for plants.

This could cause quite a financial strain on businesses that are already struggling under the weight of the economy. Officials report that the nuclear power stations are needed in order to ensure that the UK has a secure energy supply and a low-carbon one in the future years. The cost of building the nuclear power stations has increased from the original cost estimate. An additional £3 billion has been seen as a direct result of the earthquake that hit Japan last year.

Warnings have already been seen alerting businesses that their energy costs may rise substantially in 2012 in order to pay for upgrades needed to electricity and gas networks. As costs continue to rise, many businesses are beginning to wonder how they will be able to afford to keep their electricity flowing.

There are a number of things that businesses can do to lower their overall energy costs even while official costs are going up. Taking the time to make your business more energy efficient could help to offset this rise in the future. If you do not have energy efficient appliances and electronics, now is the time to get them. You can check your current equipment for energy efficiency and replace those items that are using more energy than they should. While this would warrant spending, the end result will be lower energy usage which ultimately will give you a lower energy bill.

Other things that business owners can do include turning off equipment when not in use and doing a bit of comparison shopping to ensure that they are receiving the lowest possible rate. Spend some time comparing rates from different electricity suppliers and ensure that you are getting the best rate for your business energy. Taking the time to ensure that you are doing what you can to save energy will help to offset these rises in cost.

This article was written by Business Electric. Learn more about cutting your company’s energy costs by visiting our website.