Recession-hit SMEs across the Fylde coast are overpaying for their energy because many are failing to keep track of basic information, it has been claimed.
Not keeping track of details such as such as their contract renewal date could be costing companies across the North West up to £580million a year, according to figures released by analysts at Inenco Direct.
The analysts, who said many other businesses fail to shop around for the best deals, have based the figures on a survey of their 1,390 clients in the region, which have a combined annual consumption of 180million kWh.
They include 61 in Blackpool. Inenco Direct said 70 per cent of Britain’s five million small and medium-sized businesses were affected by the problem.
It said figures revealed that one in four small businesses have had their energy contracts ‘rolled over’ onto higher rates, which can be up to 200 per cent higher, without their knowledge.
And it has welcomed new Ofgem proposals aimed at ensuring energy firms put contract end dates on all invoices – so SMEs can then shop around for the best deal.
“Keeping energy bills in check is crucial to small businesses that are feeling the effects of a near triple-dip recession and very challenging economic conditions,” said Karen Trepte, managing director of Inenco Direct.