POWWR, a respected energy software provider, today reveals that there is a huge disparity between what business in North and South Scotland spend on energy per year. Whilst businesses in North Scotland spend, on average, £3799 a year for energy – the second lowest of any region in the UK – those in South Scotland spend over £1500 more (£5318).
This is based on over 300,000 data points the company analysed for its Quarterly Energy Barometer. The report provides unprecedented insight into how much energy UK businesses are consuming, and what they are paying for it. The Energy Barometer Report shows that the average energy contract is now only 22 months for UK businesses, significantly less than the 29 months it was in 2020 – pointing to continued market uncertainty.
“It has been a tough few years for businesses in Scotland. Already reeling from a global pandemic, double digit inflation and increasing geopolitical tensions, rising energy prices directly impact profitability for companies large and small,” comments Matt Tormollen, CEO at POWWR. “Plus, there is a fear that recent increases to the price cap from Ofgem will put even more financial pressure on Scottish businesses at the coldest time of the year.”
The energy sector remains extraordinarily complex, with numerous factors influencing market rates and energy consumption. However, the POWWR Energy Barometer Report proves that there is light on the horizon for UK businesses and that prices are likely to go down due to the increased competition between brokers and suppliers, and partly due to improvements in technology that enable organisations to find better deals.
“Either way, it is important that suppliers continue to help Scottish businesses reduce their energy consumption by providing them with tools, insights, and advice to manage their energy use more efficiently. This will both help the planet, and their bottom line,” added Tormollen.
POWWR will be hosting a webinar on 31st January to go through the full findings in detail, to sign up please click here.