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Businesses hit by a 250% increase in gas bills

SMEs face an imminent risk of paying bills at out-of-contract rates for a period of time, according to new report

Small and Medium sized Enterprise face a rise in average gas bills of more than 250% year-on-year.

That’s according to new research by Cornwall Insight which suggests the delivered prices range for an annual demand of 25MWh was from 10.35 to 15.42/kWh in the first quarter of this year.

That compares to the price range of 2.99 to 6.01p/kWh recorded in the same period in 2021.

The consultancy also stresses that the unstable energy landscape means in some cases it is harder for businesses to secure the contracts they need as energy suppliers withdraw tariff plans at short notice.

Craig Lowrey a Senior Consultant at Cornwall Insight, said: “Volatile wholesale pricing means finding a new contract as a business customer is even more difficult."

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