Companies in Warwickshire are being urged to defy rising utility prices with the help of a money-saving service.

Coventry city centre pub the Escape Bar has cut £2,000 from its costs over the past year by finding cheaper electricity, gas, water, fuel and telecommunications.

The bar enlisted the help of Chamber Utilities – a service provided by Utility Auditing through the Coventry and Warwickshire Chamber of Commerce. It provided a free audit which led to the massive saving.

Andy Gabriel, co-owner of the Escape Bar, said: “We became a member of the Chamber about a year ago and since then have saved a significant amount on our utilities.

“It was at a Chamber event that we were told about the Utilities scheme and the potential money we could save by using it.

“As a member of the Chamber, we decided to take full advantage of the service. All we had to do was give them our utility bills, and they did the rest.

“After a free contract review, they found that we were being charged too much and our behalf, negotiated a new contract, saving us £2,000.

“As fuel prices are rising to a record amount, so are utility bills. As we manage our own business, we feel first-hand the pinch that businesses all over the country are feeling, as a result of these rising costs.”

Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, has urged Ofgem – the energy regulator – to ensure that its current probe into the energy industry addresses a number of serious flaws in the way energy companies deal with businesses.

She said: “With the economy slowing and energy bills on the rise, it is totally unacceptable that hard pressed businesses are left so open to exploitation by energy suppliers.

“Ofgem’s investigation into the industry must hold the suppliers to account over the very apparent lack of transparency and fairness in their dealings with business.

“Energywatch is currently providing a crucial service to thousands of businesses who are confused and frustrated by energy suppliers. If a ‘super consumer group’ is to be established, as the Government plans, there is little doubt in my mind that this service will be all but lost, leaving companies at the mercy of the suppliers.

“An obvious solution would be establishing a separate watchdog, dedicated to assisting businesses.”