New Energy Bill Proposal – What it Means for Business Energy
As you may have heard, there’s a new Energy Bill that’s currently making it’s way through the parliamentary processes (you can find out more about it here), and it’s expected to be rolled out during 2016. While there are many propositions included within the bill, some of the biggest changes are directly related to business energy, and to businesses both large and small. It’s time to be prepared.
The good news is that the current proposals made by the new UK energy policy that relate to business energy are, on the whole, aimed to benefit businesses, not hinder them. At a time when business energy rates have been rising almost uncontrollably in the UK, this is a bit of light at the end of the tunnel. However, it’s not all sunshine and roses – some businesses may need to rethink their energy usage.
Here are just some of the ways that the business energy world could change within the next few years:
- Improved Service – Only, recently the business energy world was described as a ‘customer service lottery’ following reports that some UK providers were seeing 944 complaints per 100,000 customers. Under new legislation, Ofgem, who regulate the gas and electricity markets in the UK, would be given greater power to step in and address issues with customer service.
- Push to ‘Green’ Energy – In a shock move, the bill proposes that subsidies to onshore wind farms be stopped a full year before it was anticipated in an attempt to push more businesses into ‘green’ energy. While onshore wind farms do produce emission-free power, there are emissions involved in the manufacture, and noise pollution is cited as a major factor in the decision.
- Taxation – Fortunately, smaller businesses such as SMEs may not be affected by changes in energy taxes, although this is something that larger businesses will need to be prepared for. The bill proposes that energy taxes are consumption-based, which is expected to push more businesses into taking measures to lower their business energy use and become more efficient.
Regardless of whether you are a small business or a large business, should the new energy bill be passed the way in which you use and pay for business energy will undoubtedly change. While these changes will occur automatically – meaning there’s nothing your business needs to do officially – it’s advised that you prepare for the changes. You can do this by ensuring you’re receiving the best rates from the best providers to minimise cost and service implications. Check out compareyourbusinesscosts.com for great deals.