Businesses across the UK rely on electricity to power everything from office lighting to heavy duty machinery. It is important to every business that they benefit from a low price and brilliant service from their provider. If your current supplier is not providing a service which you are satisfied with, it is possible to switch business electricity supplier.
However, many businesses struggle to change business electricity supplier, because it can take time to obtain a range of quotes. Here at BusinessComparison, we specialise in assisting businesses with the comparison process, so that you can easily switch. We are committed to helping businesses across the UK access the best business electricity tariffs, quickly and easily.
If you have never switched electricity supplier, you could be signed up to a tariff which is not the cheapest available. In addition, if you have let your old contract lapse, you may even be paying the high-cost charges of a deemed rate tariff.
The wholesale price of electricity changes on a daily basis, which means that business electricity rates also fluctuate. If you have been with the same supplier for many years, you may not be benefitting from the cheapest rates. When you switch electricity provider you could save money and also find a supplier which provides the service your business requires.
Without a professional team to help you switch business electricity supplier, it can be difficult to compare and switch. It is time-consuming to navigate suppliers and tariffs, so it is not unusual for businesses to remain with uncompetitive suppliers.
The network of electricity providers we work with are handpicked for their ability to provide excellent prices, contracts and customer service. Our panel includes the major UK ‘Big Six’ suppliers; British Gas, EDF Energy, E.ON, Npower, Scottish Power and SSE. Although, we also work with a range on independent providers.
By partnering with an array of suppliers, we can provide you with quotes which closely match your individual requirements. Whether you are looking for a supplier with UK based call centres, or a provider who will improve your business energy efficiency. Whatever your business requires our panel will include a range of ideal suppliers, who are committed to meeting your needs.
It is important to remember that you will only be able to switch business electricity provider when your current contract ends. This means the ideal time to search the available tariffs is when your switching window opens. This can be anywhere between 1 and 6 months before the official contract end date. The majority of suppliers will send a renewal quote, with details of the new contract and prices which they will charge you. This will give you a basis for comparing quotes, so that you can decide whether to switch business electricity provider.
Your contract will be able to tell you these dates, but if you are unsure you should contact your supplier. Although, if you run a small business, your supplier will be required to provide you with notice when the expiry date is approaching. If you are being charged a very high electricity rate, it may be worth paying expensive early contract cancellation fees, as it may be possible to save money in the long run. This is because the supplier may offer a much better rate when you switch business electricity contracts.
When it comes to electricity prices, there is no one size fits all pricing structure for businesses. In general, the overall price of the electricity will be divided into two separate charges. These are the unit rate which is measured in kWh and the standing charge. The overall price of the electricity is influenced by a range of factors, such as its size, location and consumption.
For example, a large urban business with an excellent credit rating is likely to pay a low rate. Especially when compared to a small business in a rural area with a history of late payments.
In general, the businesses which represent a lower risk to the provider will benefit from the lowest prices. If your business is low risk and you are not benefitting from cheap prices, it may be worth switching electricity provider.
In addition to these factors, there are two common types of agreements which can impact the overall price. These are the two most popular form of contracts, fixed term tariffs and variable rate tariffs. A fixed rate will mean that the unit price of the electricity supply is fixed for the duration of the contract.
This will usually be between 1 and 3 years, although some suppliers offer 5-year contracts. This is a popular option for many businesses, as it helps to improve budgeting thanks to the protection against price rises.
If your business is looking for a short-term contract, a variable rate tariff is probably a more suitable option. Although, there will be no protection against price increases, so if the wholesale electricity prices increase your business will pay more. However, variable rate contracts tend to cost less per unit than a fixed rate contract, as there is a lower risk.
Our team of energy experts will remove the hassle from the comparison process by approaching our panel on your behalf. To ensure the quotes we receive are accurate, we will require you to provide a few key details. The majority of these can be found on your most recent bill or contract. Including; the name of your supplier, the date your contract ends, the amount you use, the price you pay and your MPAN number.
This information will be used by the array of potential suppliers to calculate an accurate quote. This means the quotes you receive will be based on the exact requirements of your business. We will present you with the available tariffs, so that you can pick the ideal supplier for your business. We know that when you switch business electricity supplier it isn’t always just about the price. Our excellent knowledge of the commercial electricity market means we can offer advice about the various energy options for your business.
Once you have picked the ideal tariff, we will liaise with the new supplier to manage the switch. The new supplier will send you a changeover date, when you will switch business electricity supply. On this day you should take a final meter reading and send it to your supplier. They will then send you a final electricity bill. There is no disruption to the business electricity supply and the whole process will be complete in roughly 4-6 weeks. The length of time it will take will depend on when contract ends and whether the supplier has the required details.
We specialise in helping every type of organisation to switch business electricity. Our dedicated team are always available to discuss every aspect of the switching process. To find out more about how much your business could save, please contact our experienced team today.