Businesses to see hike in gas and electricity bills

Between 1 July 2019 and 31 December 2019, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £479 or more.

The government's low-carbon transition plan, which was launched earlier this month, could have a significant impact on businesses' gas and electricity bills, it has been claimed.

The white paper, which focuses on increased investment in renewable energy, could see businesses' energy bills going up by as much as 17 per cent, or even 21 per cent in energy-intensive sectors, reports Business Green.

A spokeswoman from the Department of Energy and Climate Change confirmed to the online news provider that while businesses will be supported by measures such as no-interest loans for energy-saving equipment, households will benefit from a greater number of initiatives, meaning they are less affected by price hikes.

In addition, business customers tend to opt for gas and electricity tariffs which track wholesale prices.

"These two factors combine to mean that the increase in bills in 2020 is about nine per cent for the domestic sector and about 21 per cent for the industrial sector compared to bills without the white paper package in 2020," added the spokeswoman.

Businesses which want to make sure they get the best deal on their gas and electricity can use a price comparison site to check a variety of tariffs.

The government's energy white paper outlined plans to cut the nation's carbon dioxide emissions by 34 per cent from 1990 levels by 2020.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.