Power of reasons for SMEs to consider switch
Electricity Authority is launching a tool that helps businesses see if they’re getting the best power deal, writes Carl Hansen.
Q: Why have SMEs been less aggressive about changing power supplier than households, 370,000 of which have switched?
Research done in 2011 into SMEs’ awareness and behaviour about switching revealed that only 4 per cent are actively looking for a cheaper retailer compared with 5 per cent of residential customers. Meanwhile, only 22 per cent of SMEs have switched electricity provider in the past two years and 80 per cent of those who have switched say they found it easy.
The main reasons for small and medium sized businesses not switching included perceptions that there weren’t any real gains to be made and that it seemed too much of a hassle. Other main barriers to switching were a lack of trust towards electricity retailers.
A lack of information was also cited as a key reason for not shopping around for electricity. The online business tool allows businesses to find out this information in five easy steps.
Q: Explain the Electricity Authority’s SME campaign.
Following the What’s My Number residential campaign, the Electricity Authority has extended the opportunity to make significant savings to the SME
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