Nearly 40 per cent of large businesses and 21 per cent of SMEs are unhappy with their current energy contracts due to high rates, inflexibility, and a lack of options to better control their energy usage, according to a new report. The survey, commissioned by electricity retailer firm Flow Power, reveals that 62 per cent of businesses would be willing to switch over to a new electricity provider if they were given more options.
“Our findings come at a time when renewable energy is becoming more and more available to Australian businesses and yet businesses feel shut out of the market,” Flow Power CEO Matthew van der Linden said. “Our position at Flow Power is to ‘open the doors’ to sustainable power and pricing flexibility, so that organisations can access energy tailored to their needs and when prices are low, thereby reducing their costs. The solutions are already there.
“Flexibility is also hugely important to many businesses, with 46 per cent of survey respondents telling us that they would be prepared to pay an additional two to three per cent above market rate in their electricity contract to enable them to pay a lower rate when the market price dips,” van der Linden added.
The survey of more than 300 business decision-makers across all states and territories noted that only a few organisations manage to find time to track price movements in the energy market – especially SMEs.
“Our experience has shown that businesses want education and advice in their energy management systems, as well as innovative services and products that put the power back in their hands,” van der Linden said.