The announcement that the energy watchdog Ofgem is to launch an investigation into price hikes by utility firms has been welcomed by the Forum of Private Business (FPB).
According to the FPB, many SMEs feel they are being overcharged by utility companies and also receive a poor level of service.
However, regardless of the result of Ofgem's investigation, the FBP believes firms can still save money by switching their providers.
Colin Beake, managing director of Utility Options, said: "Electricity and gas supplies are always on tap, so most businesses make the excuse that they are too busy to get to grips with the problem, and push the action needed to the bottom of the pile."
The FPB recently announced a partnership with Utility Options which is aimed at helping SMEs cut their fuel costs.
Figures released by the firm reveal that FPB members could be paying more than £1.5 million more than they need to for their energy supplies.
The big six energy companies, which dominate the UK energy market, have all announced price rises since the start of the year.
