The Forum of Private Business (FPB) has also backed comments by the regulator's chief executive Alistair Buchanan that business electricity customers should not stop switching deals to find the best value.
In a statement, one of the body's partners, Utility Options, added that energy users should also not delay in their efforts to reduce their gas and electricity costs.
Colin Beake, the firm's managing director, said as energy is "always on tap", many businesses claim they are too busy to tackle the issue and "push the action needed to the bottom of the pile".
The FPB's support for Ofgem's investigation has come after five of the UK's six biggest energy providers have all recently increased their prices.
Scottish and Southern Energy is the only one not to, although it has announced that it is planning to review its tariffs at the start of British Summer Time.
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