Compare Electricity Prices For Your Business

By comparing business electricity rates, you'll find you could make substantial savings from renewal quotes offered by your current energy supplier.

The electricity wholesale market mainly drives prices, but that only accounts for 50% of your tariff. All commercial organisations can procure their contract either directly from their current provider, use comparison services or a specialist energy broker.

Contracts for businesses are different from households because of the terms, government levies, VAT and consumption.

Use this guide to see how the commercial gas and electricity market differs from domestic equivalents and find a deal that's right for your circumstances. The links above go straight to each section, or continue reading below.

How To Switch Business Electricity Contracts

Business electricity rates graphic

The main reason people should consider switching their energy supplier is to save costs.

Most commercially-based contracts consist of a daily standing charge plus a unit cost per kWh that get invoiced monthly.

All providers have fixed-term contracts that last from one year up to five years in length. Only larger organisations benefit from flexible rates based on the current wholesale price.

Tariffs depend on your regional location within the UK, your annual consumption, your meter types and length of contract. Businesses also pay various green taxes plus VAT at 20% on the total bill.

To find out how much you could save, you need to get a comparison of the latest costs by supplier. Use either an online comparison service or a business energy broker.

Top 3 Online Quoting Services

Use one of the following impartial comparison services to get electricity quotes for your business:

Top 3 Energy Brokers

Using a broker could find you cheaper rates for your office or buildings. These accredited consultants also assist with multi-site quotes, half hourly meters and energy management software to manage usage and expenditure on fuels you consume.

Contact Your Supplier

You may find that by contacting your existing supplier could reduce your costs. Going direct means you may find cheaper prices, but it's a time-consuming process that not all companies can manage.

Whatever your decision on the method of switching contracts, so long as you complete the process your new electricity tariff will be lower than your renewal quotes.

The Key Business Energy Suppliers

The following companies make up the so-called "Big Six" energy suppliers with nPower and SSE announcing a merger once passed by the Competition and Markets Authority (CMA).

1. British Gas Business

Website: https://www.britishgas.co.uk/business

2. nPower/ SSE

Website: http://www.npower.com/business/

3. EON

Website: https://eonenergy.com/for-your-business

4: Scottishpower

Website: https://www.scottishpower.co.uk/small-business/

5. EDF

Website: https://www.edfenergy.com/sme-business

Green and Renewable Energy Providers

Many of the major suppliers and new entrants into the marketplace now offer the ability to choose green business electricity. The main suppliers the renewables market are Good Energy, Ecotricity, Green Energy UK, ScottishPower and SWALEC.

Although this may sometimes cost a little more than standard contracts, there's one company that matches the main six suppliers, and this is Ecotricity.

Ecotricity

Ecotricity is a green energy company that invests in wind turbine technology and guarantees to match the Big Six companies on traditional "brown" electric contracts.

Website: https://www.ecotricity.co.uk

Good Energy

A relatively new entrant to the market is Good Energy. They enable you to purchase electricity from local generators.

Website: https://www.goodenergy.co.uk/business/

Tips To Securing Your Perfect Deal

All commercial contracts for smaller businesses have fixed end dates for at least one year at fixed prices per kWh used. The market is extremely competitive for small and medium-sized enterprises (SME), so it's worth shopping around and comparing all available prices.

If you've not switched in the past 12 months, then you should be able to negotiate a lower deal than your renewal notice.

A similar pricing practice applies for business gas supplies where all providers offer competitive pricing. Utilising the services of an energy broker could save you time and money by using their specialised services. They'll find you the lowest prices in the market or direct from the wholesale market for larger corporations.