Where are the nation’s canniest businesses when it comes to buying business energy?
The results might surprise you
Propensity to switch
East Anglia is the UK’s region with the highest propensity for business switching. With 11% of the UK’s businesses based in the region according to the latest government business census data (the third highest concentration in the UK) East Anglia provided nearly 14% of the business energy switchers in 2014.
Only 3 other UK regions other than East Anglia out performed their business population share with their number of switchers. These were the East and West Midlands and the North East.
The North East however, home of just 3% of the nation’s businesses, contributed over 5% of switchers in 2014, a propensity second only to East Anglia and delivering the businesses in the region an average saving of £950.
Of the remaining regions of the 10 surveyed, Scotland, Yorkshire & The Humber, the North West, the South West, Greater London and the South East, it was actually the latter two areas, both with demonstrably the largest business populations in the UK who had the lowest propensity in the country to engage in the business energy market.
Indeed with 18% and 17% of the nation’s businesses respectively, Greater London and the South East contributed just 18% of switchers between them in 2014, the same as East Anglia and the North East combined who have less than half the number of businesses in their regions at 14% vs. 36%.
Savings made
Way out in the lead of businesses making the greatest savings from engaging in the energy market in 2014 was the North West whose businesses on average saved £3,100, yet the North West contributed less switchers than their respective business population illustrating the opportunity that their constituents are missing.
The second highest level of average savings amongst the UK regions was the East Midlands whose businesses saved £2,275 in the year, closely followed by Greater London, who despite the apparent disconnect between business population and energy switching managed on average to save £2,250 per switch. Well worth the bother.
The remainder of the UK regions all saved per business, per fuel on average between £950 and £2,000 in 2014.
The canniest
Overall then the canniest region housed 7% of the UK’s businesses but 8% of its switchers and delivered savings of £2,275 per switch.
The canniest UK region for business energy? Step forward the East Midlands…
Clearly inspired by local boy Robin Hood, the East Midlands, still taking from the rich (energy suppliers) and giving to the (relatively) poor (SMEs) after all these centuries.