Autumn is here and the weather is getting colder. Now is a great time to review your energy costs to ensure you’re getting the best value for money.

In the news, the government has announced plans to extend shared parental leave to working grandparents, and there’s research suggesting social media may be not be successful for small businesses.

Top news stories

Working grandparents to share parental leave and pay

The government’s plan, announced by Chancellor George Osborne at the Conservative conference, would extend the current system which allows parents to share leave and statutory parental pay.

Social media failing two thirds of small businesses

61% of small business owners were 'uncertain', 'disagreed' or 'strongly disagreed' that social media marketing had been effective for their business.

Regions attract growing share of venture capital cash

A quarter of all investor finance this year has gone to firms outside London.

Chancellor allows local councils to keep £26 billion raised from business rates

The move will allow councils to decide how to spend the revenue and to lower rates to attract new business.

Key dates for your diary

31 October: Midnight deadline for paper submission of Self Assessment tax returns for tax year ended 5 April 2015.

Are you getting the best value for your energy costs?

As temperatures drop and the winter approaches, the heating is going on in offices across the country. While this is an essential expense, rising costs have a big impact on your bottom line.

Energy prices have nearly doubled in the last six years and businesses are poised for further cost increases. These are likely to have a significant effect. New research by YouGov showed that 40% of companies would review staff costs in a bid to find funds to cover the higher prices, with many looking to make redundancies.

So what can you do to manage your energy costs and keep your spend as low as possible? We share our top tips.

Know your costs

The first step is to understand your energy costs and how they are broken down. Look at where you’re spending money - whether it’s on gas, electricity or other factors like petrol.

According to research by Natwest, over 85% of businesses think energy costs and legislation are an issue but less than 25% carry out regular reviews of their energy spend. Make sure you know where your costs come from.

Negotiate for the best deal

According to research, 40% of companies haven’t switched energy provider in the last five years. If you’re one of them, you may be overpaying.

The bad news is that it’s not simple to compare prices. Unlike domestic supply, business customers negotiate individual deals so you’ll need to call round and haggle for a good price. Look online for a starting cost, then see how much you can lower it. Do make sure you understand the unit costs and standing charges, so you’re comparing like for like.

It’s also a good idea to check your existing contract. Ofgem now requires suppliers to put the end date and notice period on all bills for fixed-term contracts. For contracts which started on or after 30 April 2015, the maximum notice period for terminating a micro business contract is 30 days. If your contract is older than this, you may need to check your specific terms.

Speak to your facilities team if your energy is managed externally

For businesses who have office space in a large building, energy may be managed by a central facilities team. If you’re concerned about rising costs, speak to the team about any deals that may be available or whether you can negotiate lower costs by reducing your energy usage.

Look at green energy options

There are loads of government initiatives aimed to help businesses to become more environmentally friendly, so it’s definitely worth checking to see if any would be right for you. There are a range of options, from biomass boilers to solar power, all of which could reduce your costs and bring in some income by paying you for the energy you produce. Which one is right for you will depend on your business, your energy use and your building.

If you’re concerned about the upfront costs of replacing energy hardware, there are a number of government schemes available that can provide help. Capital allowances are available until January 2016 and there are other government initiatives to help you cover the costs. Find out more on the government website.

Keep an eye on the outcome of the Competition and Markets Authority inquiry

This is looking at the competitiveness of the energy sector and covers small business customers as well as consumers. The investigation is expected to wrap up at the end of the year, so we will hopefully see some improvements as a result.

Reduce where you can

According to government figures, energy inefficiency costs British businesses £6.3 billion a year. By taking some simple steps, you should be able to reduce your spend without making life uncomfortable for you and your employees.

The first step is to make sure you’re not wasting energy. Consider:

• Turning down the thermostat by 1°C. It could save you between 6-10% on your gas bill.
• Changing your frost setting from 5℃ to 0℃. It can mean a 20-30% reduction in out-of-hours energy use.
• Turning off equipment when it’s not in use, rather than leaving it on standby. Effective management of office equipment can reduce energy consumption by 70%

The next step is think about smart metering. By 2020, this will be installed in all commercial premises, but you could get a head-start. Smart meters make it easier for you to see where you use energy and how you could make reductions. They can also help you to budget more effectively.

Finally, you could look at the age and repair of your equipment. You may find that newer models of everything from laptops to boilers provide better energy efficiency, so consider where you could upgrade.