Small and medium sized businesses have overspent on energy supplies to the tune of £7bn in the last year, according to research by energyhelpline.com.

The research, published on Wednesday 7 September explained that organisations that did not “shop around” were overpaying, on average, by £532/ year.

Nevena Mulyachka, executive at energyhelpline.com, said: “Businesses are increasingly suffering due to their passive approach to energy contracts. In a competitive market place, companies cannot afford to spend more on utilities than is necessary […]. With the winter months just around the corner and energy price rises expected, now is the time to switch onto a more affordable alternative.”