Discover whether you could be saving on what you pay for your bank’s gas and electricity. See the best deals from UK suppliers with Business Energy Comparison.
Reviewing costs is essential for all businesses, and banks are no different. The running costs of banks will vary between branches and offices.
Understanding the needs and costs of banking utilities and energy will help to identify the best suppliers. It will also identify opportunities where savings can be made.
Keep reading to find out how financial institutions can quickly and easily compare energy and utility suppliers.
Following the Global Financial Crisis of 2007/2008, the landscape of banking in the UK has shifted dramatically.
Many banks have undergone significant cost-cutting changes, including branch closures. This has helped major banks save significant amounts of money.
This was only possible due to the proliferation of online banking facilities. However, bank branches are still required, and offices are needed for many banking services.
UK banks have implemented a number of changes to minimise branch costs. This includes encouraging customers to explore online banking. There are also machines that can help with a number of services including business banking and deposits.
Another way that banks can reduce utility bills is by exploring the best energy and utilities companies on the market.
This is made easy here at Business Energy Comparison. We help many types of industries, including the banking sector, explore the best solution for energy and utilities.
It is possible for any business to make substantial savings by comparing business gas, electricity, and water costs.
Business utilities are required for small and large banks. Not only is it essential to power the equipment required to serve customers, but it is also important to make the premises comfortable.
Keeping a bank branch or office warm in the winter and cool in the summer will help to keep customers happy. It will also improve morale and productivity.
Water is required for kitchens and toilets for banking staff and customers too.
Exploring every single business utilities supplier in the UK would be an enormous task. It would take a significant amount of time to provide each supplier with the information required to provide a quote. You would then have to analyse all the quotes as and when they came in.
To devote such energy and resources to trying to save money would be counterproductive.
That is why Business Energy Comparison does all the hard work for you. We work with more than 27 of the best business energy and utilities suppliers in the UK to provide you with a range of quotes to suit your needs.
In a time when the total value of banking utilities is consistently increasing, finding the right supplier is essential. As well as business electricity and gas savings, we can also help you understand water bills and compare business water suppliers.
It can take days to collate all of these quotes individually. Our process uses state-of-the-art technology and a team of experts to get your utility quotes to you in minutes!
Our service will help you find a utility supplier to reduce bill prices. This is a great way to make savings, but there are also other ways to complement this and reduce payments even more.
Now more than ever, businesses are trying to be more efficient in their day-to-day running.
This improves the green credentials of businesses and helps to reduce their carbon footprint. This is important as governments are implementing regulations to minimise the harm businesses do to the environment.
It is also important for many customers that want to do business with conscientious companies.
Another great benefit to being more efficient is the money it will help to save. Here are our top tips for banks to become more energy efficient:
Leaving essential IT equipment on standby when not in use may be convenient, but it also wastes energy and money.
The Energy Savings Trust estimates that appliances left in standby mode use between 9% and 16% of the energy they would use when operational.
Modern banking requires the use of computers throughout the day. Ensuring they are switched off at night can make a big difference.
Other machines that aren’t used as much, like copiers, could be switched off during the day as well.
Lighting any business is essential, especially in branches. However, there will be areas of the bank that are not as busy as others. These can include staff rooms, security rooms, and secure vaults.
Installing motion sensor lighting will ensure lights aren’t left on for too long if a room is empty.
Tap aerators can be a good way to reduce water wastage. Aerators restrict the flow of water and mix it with air to ensure people still get good water pressure without wastage.
Installing these in public and staff toilets and kitchens can reduce the water bill and help to save money.
Insulated buildings will minimise heat loss during the winter. Checking the roof, wall spaces, and windows can make a significant difference.
Installing double glazing will help to retain heat. In some cases, banks are located in historic buildings that may have regulations on alterations. If this is the case speaking with local planning departments can provide solutions.
Having a door that opens right into the building means the heat will regularly be lost through it. In a busy setting like a bank, it can pose a real problem. Having a vestibule where there is a space after the first door before a door opens into the premises can help.
As well as minimising heat loss and draughts, a vestibule is also a great security feature. Criminals would have to pass through two doors and a chamber to enter or exit. This can be a deterrent and provide an extra barrier.
Taking the time to carry out an energy audit can be beneficial for all businesses. An energy audit will look at all the ways utilities are used in a bank or office and explore ways to minimise waste.
This will typically take in all the tips advised above, as well as explore other ways energy could be conserved.
Energy audits can be completed by staff who will be able to identify obvious issues. Alternatively, investing in a professional audit may be beneficial. This is because experienced professionals from the energy sector will conduct them.
The last thing that can be carried out daily is a sweep of the premises to ensure no lights or machines are left on that don’t need to be.
Banks have strict opening and closing procedures for security reasons. Implementing these checks into already existing procedures shouldn’t take a lot of time or energy.
The average electricity use of banks will vary between offices and different branch types.
This is because each different setting has different needs. This is why an energy audit can be beneficial to finding unique savings for each branch.
Banking premises use the most energy, and this can be as high as 90% of a bank’s energy use. Because branches make up the majority of the cost base but can also vary in style and size, it is a challenge to find an average cost of energy and utilities for UK banks.
Individual bank branches might have the needs of a small to medium-sized business.
The overall size of banks can allow them to negotiate better deals across the board. If energy is managed on a branch level, the manager might benefit from our comparison tool.
During 2022, the average unit rate for small businesses was approximately 20.57p per kWh. With average energy usage of around 20,000 kWh, this would put an annual electricity bill at around £4,114.
This will be subject to change based on the branch size, type, and agreed rate. Average-sized businesses are more likely to use around 40,000 kWh. They will have a slightly more favourable average rate of 18.06p per kWh. This would result in an annual electricity bill of £7,224.
Finding the average gas consumption for bank branches in the UK is similar to electricity usage. This is because bank branches can vary in size and building type. The number of employees will also determine the energy use of each branch.
Gas prices varied on average between 3.64p and 4.22p per kWh. This was between small and medium-sized businesses in 2022. The average annual gas use for small businesses is somewhere between 15,00 kWh to 30,000 kWh. For medium-sized businesses, this goes up from 30,000 kWh to 65,000 kWh.
Bank branches will be able to look at previous bills to get an annual average. Using our comparison service can save you as much as 45%. Following our great energy-saving tips could help you save even more!
No good business will pay more for energy and utilities than they have to. However, not everyone has the time to engage with every energy supplier on the market. They may even have limited knowledge of the utility sector to explore lower costs.
Lowering the price of utilities for banking customers is highly relevant to improving profitability and efficiency.
This is where Business Energy Comparison comes in. We are able to help our customers in the banking industry to reduce the cost of utilities.
We have access to some of the UK’s top energy suppliers and can get quotes in minutes. Our no-obligation, free quotes are completely risk-free. We will then help you every step of the way should you wish to start an account with a new supplier.
You can phone or message us at any time with any concerns you may have, and you will remain in complete control of the deal you enter into with your supplier.
Using our service is easy. We explore the energy and bank utilities sector to help financial institutions make great savings.
We save you the time and hassle of having to contact every energy supplier in the UK. Instead, we gather a collection of the best offers on the market from a range of top suppliers.
We also offer a number of green alternatives for businesses. This helps them avoid the use of fossil fuels and enjoy renewable energy options instead.
All you need to do is enter the business address, and we will use industry data to gather energy usage information. We can then provide you with a free, no-obligation quote that will have a positive impact on your banking utility bills.
We will then guide you through switching energy and utility suppliers every step of the way. Our customer support is second to none, making it easy for commercial customers to switch energy suppliers hassle-free.
Business Energy Comparison is the perfect way to save money on gas and electricity bills. We can even help to reduce your utility bill. If you are in the banking sector, get in touch today to find out how much we can do for you!
