Energy Costs Are a Top Priority for UK SMEs
New data from SEFE Energy reveals that reducing energy costs is a top priority for 52% of UK SMEs surveyed but less than a third (32%) have all the knowledge and information they need to find the best energy contract for their business.
The survey of 500 UK energy decision-makers, including 300 SMEs (companies with up to 250 employees), underscores a challenging economic climate for the segment with cost a core consideration throughout the responses. Reducing energy costs is the most cited energy goal for SMEs surveyed, selected by 52% of respondents, with rising energy costs also identified as the most concerning external factor for their business by 47% of SMEs surveyed.
Knowledge Gaps Are Holding SMEs Back from Better Energy Deals
Despite this, most SMEs struggle to find the best energy contract for them, with only 32% of SMEs surveyed feeling they have all the knowledge and information that they need. 71% of SMEs surveyed also agree they would benefit from more external guidance on improving energy efficiency, often a key factor in managing energy costs.
Expert Guidance and Efficiency Support Can Unlock Savings
SEFE Energy supplies gas, electricity and low carbon energy products to nearly 30,000 UK organisations, including over 11,000 SMEs. Sally Davis, Head of SME UK, SEFE Energy, said: “Managing energy costs is vital for organisations of every size, but especially for SMEs who are already navigating a complex landscape of regulatory and financial pressures.”
“While it’s clear that costs are top of mind for UK SMEs and will continue to be a challenge, many businesses are struggling to get the guidance they need. Working with accredited consultants to access tailored advice alongside obtaining quotes directly from energy providers, can help SMEs identify the right option for their needs and remain focused on growing their business.”
“It’s also encouraging that so many of the respondents see the benefit of additional external counsel on boosting their energy efficiency. As we enter the more energy-intensive winter period, identifying inefficiencies can be particularly critical for SMEs and it’s an area where energy suppliers and consultants can really add value.”
Other key findings include:
Energy comparison sites a key source of counsel
- When asked where they look for guidance on energy products, nearly half of SMEs surveyed (46%) said energy comparison sites, the most popular source. 28% of SMEs surveyed use an energy broker or consultant while nearly one in five (19%) use AI-powered assistants.
Strong Appetite for AI-Powered Energy Management
- The survey points to an interest in the use of AI in energy management, as nearly a third of SMEs surveyed (31%) want to improve their understanding of energy consumption through data analytics, while the majority (59%) say they want to adopt AI-powered energy solutions this year.
For more information about SEFE Energy, please visit: www.sefe-energy.co.uk/
