As energy costs continue to pose a significant challenge for businesses across Northern Ireland, a new survey has revealed that 42% of local businesses have never switched electricity providers.
The study, conducted by Red C Research on behalf of Budget Energy, highlights key barriers preventing businesses from changing suppliers. Among the top concerns are the perceived time (42%) and effort (46%) involved in switching, as well as potential fees and penalties (40%). Additionally, nearly a quarter of respondents noted concerns about operational disruptions as a reason for staying with their current provider.
Despite these hesitations, the survey also found that 45% of businesses that have never switched would consider doing so in the near future. Of these, 90% identified pricing plans as a primary incentive for making the move.
Businesses Encouraged to Consider Switching for Better Tariffs
Sean O’Loughlin, Managing Director of Budget Energy, emphasised the benefits of switching providers to secure a tariff that better suits business needs.
“We know energy prices are a big concern for businesses across Northern Ireland, so it was surprising to learn that almost half of firms have never switched provider,” said O’Loughlin. “Electricity providers need to be competitive on price, and excellent customer service is key to retaining customers beyond their initial supply period.”
He also noted that while businesses may perceive switching as time-consuming or complex, the reality is often much simpler than expected.
Overcoming the Fear of Switching
To support SMEs in making informed energy choices, Budget Energy backs initiatives like the Northern Ireland Utility Regulator’s Small Business Energy Charter. Launched in October, the charter encourages small businesses to engage with the energy market and access the necessary support to secure the best deals.
As for whether switching saves, we here at Power to Switch are more than confident that it does. In fact, it can be one of the most effective ways for businesses to cut costs and ensure they are on the best possible tariff. With energy prices fluctuating and suppliers offering competitive deals, staying with the same provider might mean missing out on potential savings.
At Power to Switch, we encourage businesses to review their energy contracts regularly and take advantage of market competition. Comparing deals and making a switch can lead to significant financial savings and a service that better fits a company’s operational needs.
You can get a free, no obligation quote for your business energy with Power to Switch here.
