Whether you own a chain of restaurants with a load of electric ovens, or a hair salon with a few electric hair dryers, you’ll know that getting a good price for your electricity can make a difference to your operating costs.
This simple guide will outline everything you need to know to compare electricity suppliers for business and switch to a better deal.
Business electricity prices are calculated differently to domestic electricity prices – so, even if you’re used to switching energy suppliers at home, you might still find the business energy switching process a little confusing.
To make things a little less confusing, consider that commercial electricity accounts work a little bit like a smartphone contract - you set up a contract for an agreed amount of time (energy deals usually run for between one and five years) and then pay an amount each month until that contract ends.
One charge will be the standing charge, a set amount you pay no matter how much electricity you use - think of this like the monthly charge for the smartphone itself. The other charge is the unit cost, which is the price you pay for the electricity you use. This will vary depending upon the amount you use each month – think of this like your data allowance, the more you use, the more you’re charged.
In order to work out how much you pay each month, your supplier will estimate how much energy you'll need, based upon your business type and the size of its premises.
If you have a large business, you can install meters that update every 30 minutes, instead of every hour, or multiple meters, which more accurately report your energy usage. You’ll need multiple meters if you run a business across more than one site, and it may save time and money to consolidate all of your energy supply into a single, multi-site package, with one supplier and one renewal date.
It’s easy to pay over the odds for business energy. Even if you run a relatively small operation, paying a higher rate can add considerably to your overheads. Switching to a better deal is a quick and easy way to make savings on your energy bills, and could help to keep things running by keeping costs under control.
It’s not always all about the best price though, and you might want to switch to a supplier that offers a better customer support or a specific type of fixed or flexible tariff. Give our team a call on 0800 158 5296 to discuss exactly what you need from your next energy contract.
Each individual business has a different energy demand, and all commercial electricity contracts are designed to meet these unique demands, so it’s hard to say exactly how much your business could save. How much you pay, and how much you can save by switching, all depends on the size of your company, the size of its premises, the number of employees, and its overall energy efficiency.
Get a business electricity quote with us now to find out exactly how much you could save.
To start the switching process, you’ll need to compare business electricity prices – a quick call to our business energy team is all it takes to answer a few questions on your business and its electricity use, so we can find a deal to suit the needs and budget of your business.
The more accurate your answers, the more accurate our quotes will be, so try to dig out a recent bill and have the following information at your fingertips:
- The name of your current electricity supplier
- The name of your tariff, and its end date
- Your supply type
- How much electricity your business uses
We’ll then show you a selection of tariffs from a range of providers, then all you need to do is pick the most suitable option, and your new supplier will organise the switch with your existing provider.
The switch should take around six weeks, and there will be no disruption to your electricity supply, not even on the day of the switch – your electricity will still enter your workplace via the existing cables, it’s just the company providing it that changes.
For more on switching, check out our Guide to comparing quotes and switching business energy.
Once you’ve made the switch, you’ll need to take a meter reading on the day of the switchover, so your old supplier can issue your final bill.
Switching to a better deal really is that simple, especially with the Confused.com business energy team on hand to take out all the hassle, but there are a few more things you need to know before you compare business electricity providers, such as:
- You can’t compare business electricity prices until your existing energy deal has entered its ‘renewal window’, which is usually between one and six months before its end date. Your supplier will get in touch with the offer of a new deal during this window, and that’s when you should run a comparison to find a better deal.
- Your company is likely to be subject to a credit check.
- You'll have to give notice to your current supplier (if you have one). If you don't, you could be rolled over to a standard contract which is typically more expensive.
- If you're in debt with your current supplier, you could be refused to switch until that debt is cleared.
If you're still a little unsure what is involved with switching and what business electricity is, check out these guides from Ofgem, the energy regulator.
Getting the Confused.com business energy experts on board takes all the hassle out of switching – just give us a few details about your business and its electricity usage and we’ll search the market to find the best deal to suit your needs. We’ll search our electricity providers, including British Gas, E.ON, npower and more. You’ll see all your available tariffs in one place, ranked as they should be – starting with the cheapest.
No matter how much electricity your business uses, we could help you save money - give our team a call now on 0800 158 5296 to see how much you could save.