Best Business Electricity
How to secure the best business electricity provider
Business electricity can feel like a bit of a minefield, with rates and tariffs varying between suppliers. The good news is that a cheaper deal is most likely available! However, it can be difficult to compare the tariffs available, to secure the best business electricity rates UK wide. We will guide you through the steps involved in securing the best electricity supplier for small business and large organisations.
How are business electricity tariffs calculated?
The rate you pay for your electricity can have a significant impact on your monthly business outgoings. It's important to ensure you are aware of your contract renewal date. The best electricity deals can be obtained by comparing tariffs and suppliers online. By securing the right deal, you will reduce your electricity costs, whilst benefitting from the service offered by a great supplier.
How is my business electricity charged?
In general, the standing charge and unit charge rates which will determine the overall cost of your electricity supply. This means these will be the first aspects to consider when comparing quotes for the best business electricity. Although, the best business electricity prices UK wide are not always determined by these prices.
The standing charge is a set amount charged per day, which is used to maintain the supply to your premises. This amount will vary between suppliers and is impacted by a variety of factors, such as the location of your business. A supplier may offer a low unit rate but if the standing charge is high, it could be more expensive overall.
The second factor which you will need to decide upon is the type of tariff which your business requires. The most common tariffs are fixed and variable rates, some businesses will automatically be signed up to a deemed rate. A deemed rate contact will apply to businesses which have not agreed a formal contract with a supplier. They are usually much more expensive than fixed and variable rate contracts.
What factors affect the price of business electricity
When searching for the best business electricity, a variety of factors will impact the overall cost of your business electricity. For example, if you run a large business it is likely that the price you pay for electricity will be lower. This is because each of the suppliers will purchase their electricity supply in advance, which they then focus on selling. A large business is likely to purchase more of this supply, so represents a lower risk to the supplier.
Contract length & tariff selection
The length of the contract you sign will also impact the cost of the electricity supply. The wholesale price of electricity fluctuates on a daily basis, which means the price the supplier pays is not predictable. If your contract offers a fixed rate for 3 years, it is likely that you will be paying more per unit. This is compared to the unit prices offered within a variable rate contract. However, a fixed rate tariff gives you reassurance that your electricity rate will not fluctuate.
Your business location
Businesses in urban areas, typically have improved infrastructure, which will lower the connection costs compared to a remote location. The cheapest areas within the UK for electricity are the West Midlands and Scotland, with Wales the most expensive.
When you use your electricity
The usage pattern of your business could impact the overall cost, especially if you are not with the correct tariff. For example, there are some suppliers which will provide cheaper rates during the night or for off-peak hours. If your business uses the bulk of its electricity during these times, you could benefit from switching to a tariff designed for this.
Business credit rating
Another important factor which the supplier will consider when calculating the cost of your electricity supply is your businesses credit rating. An excellent credit rating and a history of paying bills on time will indicate that you will pay your electricity bills. If your business is struggling with a poor credit history, the price of your electricity supply may be higher. This is because there is a higher risk involved, based on your credit history.
Who are the best business electricity suppliers?
It is likely you have heard of the larger electricity suppliers, as they supply around 80% of energy across the UK. These suppliers are known as the ‘Big Six’ and include British Gas, E.ON, EDF, Scottish Power, Npower and SSE. The remaining suppliers are smaller independent energy providers which often specialise in specific types of supplies. For example, some offer supplies such as renewable energy or small business energy.
We work with a large panel of suppliers including each of the ‘Big Six’ and also a selection of the independent suppliers. This means we can assist you in your search for the best business electricity, through our simple business electricity comparison service.
The best business electricity supplier for you is not necessarily going to be one of the ‘Big Six’. The best electricity supplier is one that offers you the most competitive rate, saves your business money and offers exceptional service.
A quick and simple business electricity comparison service
With so many business electricity suppliers available, it can be very time-consuming to contact each one for a business electricity quote. Instead, by answering a few simple questions our dedicated energy team will build a picture of your business requirements. They will then compare each supplier on our vast panel to find you the best deal. This service is completely free of charge and there is no-obligation to switch supplier. If you do decide to take out a contract, we will work with the supplier to handle the whole switching process.
Taking the next step to saving on business electricity
To secure the best business electricity, the first step is to provide us with some information about your electricity usage. We have a simple to use online form, or you can contact our electricity comparison tool. The majority of the information we require can be found on your most recent bill. Including, the name of your current supplier, the current price you pay per unit and the amount of electricity you use. In addition, we will need to know your current contracts end date and the date which your switching window opens. This will be between 1 and 6 months before the end of the contract.
As soon as we have the necessary information our energy team will start to compare quotes from our panel. We will then provide you with best tariffs provide you with so that you can compare the available options. Once you decide which supplier offers the best business electricity tariff, we will begin to set you up with your new supplier. They will then contact you to confirm the changeover, switch date and the payment method which you would like to use.
The new supplier will also contact your old supplier to switch across the supply. The old supplier will then contact you to request a final meter reading on the day of the changeover. They will then send you a final bill, which will close your account with them. The whole process is very simple and there is no disruption to your supply, as the same connection equipment is used.
Get the best business electricity deals today!
To find out more about how our energy team can negotiate the best business electricity prices on your behalf, please contact our team. Alternatively, you can complete our online business electricity comparison form to provide us with an insight into your requirements.