Staff costs (84 per cent), suppliers (41 per cent) and equipment (37 per cent), are all more manageable, according to a 201-strong study by British Gas Business.

Large numbers of FDs are planning to save money in the coming year through improving staff productivity (71 per cent) and cutting headcount and salaries (33 per cent), rather than prioritising savings available from effective energy management (23 per cent).

Some 68 per cent admit that energy efficiency is discussed in board meetings very occasionally or hardly ever.

Kanat Emiroglu, managing director of British Gas Business, says: “Our findings demonstrate the untapped opportunity to use energy management as a tool to control costs.’

See also: Business energy costs – how can you slash your gas and electricity bill?