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FPB hails investigation into business energy costs

Feb 25 2008

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The Forum of Private Businesses (FPB) is welcoming a probe into the high energy costs putting a strain on small businesses.

Energy watchdog Ofgem has launched an investigation into why energy costs need to rise while energy companies' profits have increased.

British Gas's profits jumped six-fold from £95 million in 2006 to £571 million last year.

Ofgem and the FPB are advising businesses to switch suppliers regularly to find the best deals.

Colin Beake, managing director of price comparison service Utilities Options, says it is easy for businesses to resent price rises without actually doing anything about it.

'Electricity and gas supplies are always on tap, so most businesses make the excuse that they are too busy to get to grips with the problem and push the action needed to the bottom of the pile,' he adds.

In a survey of 2,400 small businesses released last year by watchdog Energywatch, suppliers were found to be lacking in many aspects of service such as meter reading, billing, contract renewal, switching services and complaint handling. Not one of the "big six" energy suppliers reached a "satisfactory" rating from its customers.

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