You can find out who currently supplies gas and electricity to your business by looking at a recent energy bill. The contact details of your supplier will be printed on the document.
If you have just moved to new premises or don’t have this to hand then you can contact the Meter Point Administration service to get details of your gas supplier and your local electricity distribution company.
If you move into new premises then a deemed contract will normally be in place for gas, electricity or both even if you have not agreed a contract with a supplier. If an existing contract has come to an end but the customer continues to consume energy then a deemed contract may also exist. Costs of deemed energy contracts are on average 80% more than rates charged in a negotiated contract. Around 10% of micro-businesses are on deemed contracts.
This is when a supplier of gas or electricity rolls you over onto a new contract. This may be the case if you have failed to tell your supplier of your intention to end a contract before the notice period
If you are moving into or out of commercial premises then it is referred to as a Change of Tenancy by business energy providers.
As a new tenant, you must agree a new contract either with the existing energy supplier or a new supplier of your choice. You may decide to use a price comparison site to help you search for a deal or seek a more competitive tariff with the existing company provider. If you are the tenant moving out then you must keep your supplier fully informed of your situation.
Yes. If you decide to switch your energy provider then you must inform your existing supplier either directly or, if you are using a comparison company or third-party intermediary (TPI) by signing and supplying a Letter of Authority (LoA).
An MPAN (Meter Point Administration Number) is the number that identifies your electricity supply. It’s sometimes referred to as a ‘Supply Number’ or ‘S Number’. This unique meter code helps energy companies locate your home and is found on your old statements. If you don’t have an electricity bill to refer to then your energy supplier or local distributor will be able to tell you what it is.
MPRNs (Meter Point Reference Number) are the equivalent reference for gas and will also be found on your gas bills. They have 6 to 8 digits and are sometimes also referred to as an ‘M Number’. An energy supplier or local distributor will be able to tell you what your MPRN is if you are unable to find it.
Commercial meters supply data about how much energy your business uses. This can help put an end to inaccurate bills as suppliers will no longer need to rely on estimated costs.
If your business is large and operates from different locations, then you may require a multi-site meter. This can help you to manage the energy that you are using more efficiently.
Switching to get the best price for your business energy can become time consuming and complicated if you are using different suppliers for different sites. This is especially the case when tariffs are due for renewal at different times. A multi-site meter means you are on one tariff with one bill across your sites. We can help you to compare suppliers and switch to get the most competitive deal possible for your multi-site meter.
Because every business energy contract is for a fixed amount of time, you’re tied into the agreement until it expires and can’t cancel or change it. The time frame will depend on your agreement with 12 months being the minimum. Smaller businesses receive reminders about when their contract is due to expire. This is the point at which you can search for a cheaper business energy deal. If you find a deal that you prefer with a different supplier then you can accept it and inform your existing supplier that you want to close your account. Once your contract expires, you will be sent a final bill to pay and may be asked to send a final meter reading.
The average annual utility bill (gas and electricity) for a small business ranges from £2,700 to £4,300. For a micro business, this is £950 per year to £2,500 and for a medium business the average is £4,800 to £7,000+.
There are certainly more commercial savings to be made with business energy rather than domestic or residential tariffs. Business contracts can last anything from 28 days to 5 years and businesses are locked in to the fixed term meaning that, with suppliers chasing your business, there are opportunities to access cheap deals and make larger savings.
Significant financial savings can be made for small business owners that compare deals on gas and electricity and make a switch that benefits their needs. Using a price comparison site can make this process even quicker and easier.
At BusinessComparison we offer a free energy comparison service. Why not compare over 150 business energy tariffs with us today?