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Energy companies ‘hold millions’ from East Anglia business’

29 Nov Energy companies ‘hold millions’ from East Anglia business’

Energy companies are holding more than £33 million belonging to Britain’s East Anglia businesses – seriously impacting vital cashflow. That’s according to an independent study commissioned this year by leading challenger brand, Utilita Energy.

In 2017, there were a reported 5.7 million private businesses across the UK, and 271,000 in East Anglia, Utilita’s second annual Powering the UK High Street report revealed that almost half those surveyed (49 per cent) have paid at least £250 just to secure their energy supply.

However, with the survey findings also showing the average deposit in region is £580, the true cost to East Anglia could be far more severe.

Some have even had to fork out over £2,000 – that’s before being charged for any energy usage.

The national study looking into the treatment of small businesses by energy companies also found that almost a third (31 per cent) of businesses in East Anglia studied have seen the cost of their energy supply rise between £250 and £500 per year.

Over a third (38% per cent) of East Anglia businesses surveyed believe they get an unfair deal on energy.

It’s the finding that some energy companies are charging an upfront fee, which is causing outrage amongst businesses who are already facing tough economic trading conditions.

Utilita Energy – which does NOT ask for a deposit – said SMEs need all the help they can get.