Business Electricity Quotes
A guide to comparing business electricity quotes
Electricity is a major cost for every business regardless of its size. Whether you are a large manufacturer using vast amounts of business energy or a small office, electricity can be costly. It is likely that the total cost of your energy bills will be a substantial proportion of your overall monthly outgoings. We help you get the best rates by comparing business electricity deals.
Is your business is looking to switch to cheaper business electricity deals once your current contract ends? If so, our comparison team can search our panel of lenders for the best business electricity quotes for your business. To help you compare these quotes, we have put together this useful guide covering each aspect of your business electricity online quote.
How are business electricity quotes calculated
Unlike domestic electricity, business electricity quotes are bespoke to each business. This can make comparing prices and business electricity deals difficult. The first step in being able to compare business electricity quotes is to understand the various factors which determine the cost of the electricity.
In most situations the business electricity deals and tariffs available to you will vary depending on the business size and type. The exact business electricity rate you are charged is broken down into two main charges. The unit cost and the standing charge, although other smaller costs such as the Climate Change Levy and VAT are also included.
How are business electricity costs measured?
The unit cost is measured in kWh and relates to how much you are charged per unit for electricity. The standing charge is a daily fee which the supplier charges to provide your services. These charges are the first thing which you should compare within your business electricity quotes. A lower price will indicate competitive business electricity deals, however, there are other considerations.
There are a variety of factors which will influence how much you are charged. If your business consumes vast amounts of electricity, it is likely that the unit cost will be lower. However, the standing charge may be higher when compared to a business which does not require a large supply.
This also means that in general large businesses tend to be able to secure the lowest prices for their business electricity deals. However, the location of the business will impact how much your electricity costs. Urbanised areas tend to be charged less than remote locations. The cheapest prices are found in the east Midlands and the north of Scotland. So, even if you run a small business with a low supply requirement you may benefit from low cost business electricity deals in these areas.
The other main factor which determines prices is the length of the contract you want to take out. If you take out a fixed rate contract for a period of 5 years, this is likely to cost more than a short-term tariff
What is the difference between the available business electricity tariffs?
The next aspect to compare within your business electricity quotes is the tariff, as this determines the pricing structure of your contract. There are several electricity tariffs available, although the majority of businesses will opt for either fixed or flexible rate tariffs. These tend to ensure businesses secure the most competitive business electricity deals.
A fixed rate tariff will mean that the price you pay for your electricity supply will be fixed for the duration of the contract. This provides your business with protection from unexpected price increases. It also means that you can budget easily once you know how much each unit of electricity will cost. The opposite of a fixed rate tariff is a flexible tariff, which will mean that the price you pay for electricity will fluctuate. So, if wholesale prices rise suddenly your bills will increase, but if the market falls your business could benefit from lower bills.
If your business is looking to reduce its carbon footprint you might be looking for a green tariff. These are designed to provide businesses with an eco-friendly electricity supply. The electricity supply will be generated from renewable sources and the actual contract could be designed with a fixed or flexible rate.
What to consider when deciding on your tariff
When you are trying to decide between the tariffs, you should consider which of the business electricity deals will provide the best option. For example, if you are planning to move to new premises soon, there is no point signing a fixed rate contract for 3 years. This is because there will be high fees to pay when you move. In this situation, a flexible rate contract over a shorter term would be a better option. The main aspects which you should consider are whether you want to benefit from the potential drop in prices and how much electricity you require.
Which electricity supplier will offer the best business electricity deals?
When you are comparing suppliers ideally you should aim to compare like-for-like business electricity quotes. This will ensure that you are able to compare the unit rates, standing charge and the type of tariff and its terms. In addition, you should consider how your business could benefit from the types of services which each supplier offers to their customers. For example, what type of customer support do they offer? Is it easy to manage your account online and are there any high charges for ending the contract early?
Find the best business electricity deals with BusinessComparison
Instead of spending unnecessary hours contacting various suppliers for business electricity quotes, the energy team at BusinessComparison can help. Our service is completely free of charge and there is no-obligation to switch to one of the business electricity deals available. If your renewal window is approaching, it is the ideal time to start comparing quotes. This will mean that you can find the best electricity deals to replace your current contract. If you are unsure when your current contract ends, the date will be easy to find on your latest bill.
We work with a panel of electricity suppliers which you know and trust, comprising the ‘Big Six’ and a hand-picked selection of smaller providers. Our panel have been selected based on their ability to provide competitive prices through business electricity deals and their commitment to providing an excellent service.
Through our website you will be asked to provide information such as your current supplier, the rate and the date your contract ends. This will provide us with an insight into your usage and help us to negotiate the best business electricity deals on your behalf. By removing the complicated aspect of searching for business electricity quotes, we make it quick and easy to compare the available tariffs.
Switch business electricity and save money!
If you do decide to switch the whole process is very simple, as the new supplier will handle the whole switching process. There will be no interruption to your electricity supply, all you need to do is pay the final bill.
Whether you are looking for the best electricity deals for small businesses or large organisations, our team are ready to help. To find out more about our business comparison service or to start comparing business gas and electricity quotes, please contact our team today.