Despite the upcoming Carbon Reduction Commitment (CRC), figures from energy management firm RSA suggest 60 per cent of firms are yet to consider a move to switch energy practices.
The CRC comes into effect in the UK from next spring and will require businesses to buy allowances to cover the amount of carbon dioxide they emit.
Costs are expected to reach around 11 per cent of firms' current annual energy spend, or an additional £55,000 for businesses with energy bills of £500,000.
However, the majority of companies have not yet begun to pursue cheap energy rates in preparation for the new legislation, while 75 per cent of businesses do not know when the CRC comes into force.
Alex Matthias, energy management leader at RSA, said: "CRC will be an important issue for many years to come and it is vital that organisations take advantage of the potential financial benefits by acting now rather than leaving it to the last minute and risking their company's reputation and bottom line."
Turning off unused electrical equipment and installing energy-saving lighting such as LEDs can help businesses reduce their bills and emissions.
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