top of page
Keyboard and Mouse

The Energy Bill Discount Scheme Wrap-Up: What’s Next for UK Businesses?

A banner image for a blog post titled 'Navigating Beyond the Energy Bill Discount Scheme'. The upper part of the image showcases a montage of business silhouettes, wind turbines, skyscrapers, and digital graphs symbolising a futuristic energy market. The bottom part highlights a subtitle saying 'EBDS Ending 31/03/2024: What Help Is Available Beyond This?' with the logo of The Smart Energy Company positioned in the bottom left corner

As we approach the 31st of March, the UK's SME sector is at a turning point. The Energy Bills Discount Scheme (EBDS), a financial lifeboat for many during the surge in energy costs, is set to expire. This leaves businesses, particularly small and medium-sized enterprises (SMEs), facing uncertainty regarding their future energy expenditures.


SMEs Under Pressure: A Snapshot of the Energy Crisis

Research conducted by Simply Business reveals that a quarter of SMEs are grappling with significantly increased energy bills, exacerbating the economic headwinds they already face. The absence of a continuation or replacement for the EBDS in the recent Spring Budget has amplified these concerns, stoking fears of continued financial duress amidst relentless energy costs.


Bea Montoya, Chief Operating Officer at Simply Business, articulates the gravity of the situation: “With the EBDS wrapping up, the financial pressure on small businesses is anticipated to intensify. Nearly half of the SME owners we surveyed are feeling the pinch on their supply chains, and over a third have been forced to scale back services or operating hours to manage rising operational costs.”


The Real-World Impact: Voices from the Frontline

Daniele Paduano, the proprietor of Kotch! Pizza Stratford, shares his personal ordeal:

Regarding the bills, I have been through a situation where an energy provider owed me £1,800 after closing the account and I did realise only when, after many months, I accessed my online account, and nobody (of course) took the trouble to get in touch with me to issue a refund. I had to chase it to avoid being in credit with the energy company, especially during these difficult times when every penny counts to pay employees and support them and our families, I deactivate the direct debit and activate it when the credit runs out. That can quickly be done.

Paduano has since adopted a proactive approach to managing his energy bills, regularly monitoring his account balance to avoid unwarranted surpluses that tie up crucial funds needed for staff wages and other operational necessities.


The Market Today: Reasons for Optimism

Despite these challenges, the energy market is showing signs of positive change. The Smart Energy Company has successfully secured far more favourable rates for clients – about 18p/kWh for electricity and 3.5p/kWh for gas – a stark contrast to the high costs witnessed during the peak of the crisis.

graph to show last 36 months wholesale market movements

The accompanying graph outlines the wholesale market fluctuations over the past three years, highlighting the dramatic price surges coinciding with the EBDS eligibility period starting 01/10/2021, and the subsequent decline from early 2023.


Your Next Steps in Energy Management

While the EBDS's closure marks the end of government-led assistance, it opens up new avenues for businesses to reassess and restructure their energy strategies. The Smart Energy Company is dedicated to ensuring SMEs don't just survive but thrive in this new landscape. By offering bespoke energy contract renewals, we’re helping our clients navigate through these tumultuous times.


Taking Action: A Roadmap for SMEs

Our commitment to the SME community is unwavering. If you find yourself nearing the end of an energy contract or simply questioning your current energy expenditure, the present moment offers a critical opportunity for evaluation and action.





Beyond the EBDS – A Path Forward

The imminent end of the Energy Bill Discount Scheme signals a moment of transition. It's a call to action for SMEs to reforge their energy strategies and seek out sustainable cost-saving solutions. The Smart Energy Company stands ready to offer the expertise and support necessary to guide your business into a future where managing energy costs is clear and achievable.


Contact us at 0151 459 3388 or via info@smart-energy.uk for a thorough assessment of your energy needs and take the first step towards a more resilient and efficient energy future.





0151 459 3388 | info@smart-energy.uk

14 views0 comments

תגובות


Keep Up To Date With Market Updates

technological-devices-with-financial-reports.jpg

Securing your next energy contract at the optimum moment is essential for fully realising your savings opportunities. Provide your details below to gain access to weekly market updates, giving you the advantage to make informed purchasing decisions at the right time.

 

Bid farewell to aggressive sales approaches from other brokers and take charge with confidence!

You're Subscribed! Look out for your first report soon!

Have More Questions?

  • Is it possible to change multiple business utilities at the same time?
    Our switching service allows you to switch multiple utilities simultaneously. We have successfully assisted multiple businesses in the UK by helping them save on various services such as energy and water with savings within 2023 already over the £2 Million mark.
  • How much can I save on my business utility bills?
    The amount you can save on your business utility bills will depend on various factors such as your current usage, the rates offered by different providers, and the specific deals available in your location. However, our switching service is designed to help you find the best deals and save as much as possible. By comparing multiple suppliers and negotiating competitive rates, we aim to maximise your potential savings. Get in touch with us to discuss your specific needs and get personalised information on potential cost savings for your business utility bills.
  • How does switching business utilities work?
    Switching business utilities involves a straightforward process. Here's a general overview of how it works: Evaluation: Start by assessing your current utility bills and usage patterns. This will give you an idea of your current costs and help identify areas where savings can be made. Comparison: Use a switching service like ours to compare different utility providers in your area. We provide you with quotes from multiple suppliers, allowing you to compare prices, contract terms, and services offered. Selection: Based on the comparison results, choose the utility provider that best meets your needs and budget. Consider factors such as price, customer reviews, contract terms, and any additional services or benefits offered. Contract Negotiation: Once you've chosen a new provider, our team can help negotiate the contract terms and rates on your behalf. Switching Process: The switching service will coordinate the transition with your current supplier and the new provider. This may involve submitting termination notices, arranging meter readings, and scheduling the activation of new services. Enjoy the Savings: After the switch, you'll start receiving services from your new provider, typically at the agreed-upon rates. You will notice savings on your utility bills, providing you with cost advantages for your business. Remember, the exact process may vary depending on the type of utility you are switching, but our switching service aims to simplify the process and assist you at every step.
  • Who are the cheapest business utility providers?
    As market conditions and prices fluctuate regularly, it's challenging to provide an up-to-date and definitive list of the cheapest business utility providers. The prices we provide you are valid and available on the day of the quote and will provide most current and competitive deals available. Our switching service helps you compare prices and offers from multiple suppliers, ensuring you have the most accurate and relevant information to make an informed decision about your business utility provider.
  • What is energy procurement?
    Energy procurement is the process of sourcing, negotiating, and securing energy contracts to meet the specific needs of a business. It involves analysing energy consumption patterns, understanding market trends, and negotiating with suppliers to obtain the best possible rates and contract terms.
  • Why is energy procurement important for my business?
    Energy procurement ensures that your business secures energy contracts that are both cost-effective and aligned with your operational needs. Proper energy procurement can lead to significant cost savings, budget predictability, and reduced risks associated with volatile energy markets.
  • How does The Smart Energy Company help with energy procurement?
    We specialise in analysing your energy consumption, understanding your specific needs, and leveraging our relationships with over 20 suppliers to negotiate the best possible contracts on your behalf. Our team ensures you get optimal rates, flexible terms, and contracts that align with your business goals.
  • How do you ensure I get the best energy rates?
    Our team continuously monitors the energy market, staying updated with trends, price fluctuations, and supplier offerings. Coupled with our in-depth analysis of your energy needs and consumption patterns, we negotiate with suppliers to secure rates that are both competitive and suited to your business.
  • Are there any hidden fees associated with your energy procurement services?
    Transparency is a core value at The Smart Energy Company. We provide a clear breakdown of any commission we earn as a company when you come to agree any new energy contract. This is typically included as an uplift in your unit rate and paid to us by the supplier you chose to go to. Our primary goal is to secure the best energy deals for you, with no hidden costs.
Business Meeting

Unlock the Potential of
Your Business Energy

At The Smart Energy Company, we're committed to offering tailored solutions that fit your energy needs perfectly. By staying ahead of market trends, we ensure you're always equipped with the most efficient and sustainable energy options. We take pride in our client-driven approach, where your feedback shapes our continuous improvement.

 

Why not schedule a complimentary consultation with one of our energy experts today? Let's find the perfect energy solution tailored to your business.

See What Our Clients Say About Us

1828884.png
1828884.png
1828884.png
1828884.png
1828884.png
56937_edited.png

Very helpful, quick expert advice. We have been using Smart Energy for a while.

56937_edited_edited.png

Ian Hughes

Operation Manager

Group of Bars

bottom of page