British businesses are missing out on falling electricity rates because energy suppliers are rolling over their contracts, a survey has found.
Statistics published by the Energy Forecaster showed company owners could be missing out on 61% of energy savings by not renegotiating their energy rates at the end of their contracts.
Energy Forecaster is owned by uSwitch-owned business energy comparison arm Business Juice.
Ashton Berkhauer, director at uSwitchforBusiness.com, told the Huffington Post UK that electricity rates had dropped by an average of 4% since October 2011, but the saving wasn't being passed on to customers who rollover into a new contract.
"The average annual energy bill for a typical business energy contract negotiated in September 2012 is £2,600, whereas the average annual bill for a customer rolled over by their supplier in September 2012 is £4,200," he said.
“Businesses need to start actively engaging in the business energy market. By simply taking note of their contract end they can ensure they’re not stung by a costly rollover.