Businesses in Blackpool grapple with rising electricity rates as average price hits 31.3p per kWh

The Current Energy Landscape

According to recent data from Business Energy UK, the average business electricity unit price has reached 31.3 pence per kWh in 2023.

This escalation in energy prices isn't merely a statistical concern. It signifies augmented operational costs for businesses, from the bustling seafront shops to the grand hotels. For many, particularly those operating on slender margins, this could lead to budget reassessments, deferred expansion initiatives, or even potential staff reductions.

Factors Behind the Surge

The catalysts for this surge are diverse. Global energy markets have been unpredictable in recent times, with geopolitical unrest, supply chain interruptions, and ecological issues playing pivotal roles. The UK's commitment to green and renewable energy sources, vital for the planet's future, also brings its set of initial financial challenges.

Tips for Blackpool Businesses to Save on Energy Bills:

1. Energy Audits: Periodically undertake energy audits to pinpoint wastage areas and introduce energy conservation measures.
2. Switch Suppliers: Contemplate switching to a more cost-effective business energy supplier or bargaining for improved rates with your existing one.
3. Invest in Energy-Efficient Equipment: Modernizing to energy-efficient devices and machinery can yield substantial long-term savings.
4. Smart Thermostats: Employ smart thermostats to fine-tune heating and cooling, ensuring energy is used judiciously.
5. LED Lighting: Transition to LED lights, which are more energy-efficient and durable than conventional bulbs.
6. Employee Training: Instruct staff about energy conservation practices, such as powering down equipment when idle.
7. Renewable Energy Sources: Delve into alternatives like solar panels or wind turbines, which can diminish dependence on traditional energy sources and provide lasting financial benefits.

The Resilience of Blackpool's Businesses

Blackpool's businesses are renowned for their tenacity and adaptability. Many are already venturing into the aforementioned solutions, investing in energy-saving equipment, and seeking expert advice to manage and curtail their energy usage. Local business groups are also advocating for more lucid pricing and enhanced governmental support.

Looking Ahead: The Winter Challenge

The immediate worry for many is the impending winter season. Energy consumption typically intensifies during this time, and with the prevailing rates, businesses are gearing up for a costly quarter.

While the predicament is daunting, it also presents an avenue for innovation. Blackpool's entrepreneurs, known for their resourcefulness, might just lead the way in devising new solutions, collaborations, and business strategies that emphasise sustainability and cost-efficiency.