Apertus Group reacts to business energy spending increases
Business energy spending has risen by 12.6% over Q2 2024, according to figures from energy software provider POWWR.
After the energy price crisis of 2022, energy costs for businesses and households had fallen for consecutive quarters but never fell to pre-crisis levels. This latest spike in spending is driven by a small per-unit price increase due to ‘concerning weather patterns’ as well as an industry-wide increase in standing charges.
Business energy spending changes
While business spending has risen this quarter, it is still not as high as this time last year, and far below the prices seen at the peak of the energy crisis in 2022. Overall, per-unit prices have continued to fall.
Jon Newsham, Head of Energy Services at Apertus Group, commented on the increased spending: “This increase in standing charges is likely a market correction and shouldn’t be repeated over successive quarters, so we’re not looking at another crisis on the scale that was experienced in 2022 and 2023.
“Despite this, businesses should look at their usage and consider whether a deal with higher per unit cost and no standing charge may work better for their energy needs. This is especially true if there are facilities that require a lot of energy that are not used frequently, as their presence can be used to vastly increase standing charges.”
Insights from POWWR’s report
Other insights from POWWR’s report include the average annual energy usage per business is falling in the UK, primarily driven by larger businesses. Small and medium enterprises (SMEs) slightly increased their average usage in the same period, but not enough to offset the reduction by larger businesses.
Contact Apertus Group to find out how our energy consultancy team can help you with your energy strategy. Call 01604 212 828 or email info@apertusgroup.co.uk today to find out more.