Energy is an essential service for businesses in the UK with gas and electricity bills accounting for one of the largest single items of regular expenditure. According to Ofgem, businesses, along with charities and public bodies, spent around 25 billion on gas and electricity in 2018.
In the non-domestic sector, businesses are broadly categorised as Industrial & Commercial (I&C), small and medium enterprises (S&M) and microbusinesses. Even though price transparency has improved in recent years, microbusinesses are still paying much more per unit of energy than other businesses, with 26% on default or deemed contracts.
Whatever your business, it is advised to set up a new contract as soon as you move into your premises, or switch business energy supplier for a better rate, making a big difference to your bills.
You may be thinking about powering your business with green energy, after all, it would be a great PR story. If so, here is a list of green energy business suppliers. Remember, some smaller green suppliers may change status quickly in the current market:
Important Note: Bulb, while it did supply renewable energy, is no longer operating.
As sometimes seen in the domestic energy market, smaller, independent energy suppliers might offer competitive energy deals. Finding a business energy broker that compares the entire market is vital to get the best deal for your business energy.
Always Double-Check: The energy market is dynamic, especially for smaller suppliers. Before choosing, always research their current operational status. Here's a starting list:
Price can be the main concern when it comes to choosing a supplier with most businesses focused on reducing expenses. When switching supplier, a price comparison check will be ran to find the cheapest business gas and electricity rates with plenty of commercial energy suppliers to choose from.
However, for some businesses, it's not only about price and finding the cheapest option available. Whilst you'll be able to make a saving on your bills by switching suppliers, checking new providers also gives you the opportunity to find a supplier who is reliable and can meet the needs and demands of your business.
Many suppliers will offer different perks or services based on the specific requirements of your business. Where a smaller business may benefit from shorter contract terms, a larger firm may need half hourly metering installed and a higher service level agreement.
Energy rates are constantly changing and keeping on top of new business tariffs will help you switch to the best deal possible when it's time for renewal.
As all business electricity and gas tariffs are unique, suppliers will provide bespoke quotes based on the needs and budget of your business. This can be time consuming if manually undertaken.
When comparing with us, it's a quick and easy process. We'll ask you a few questions to understand your needs and requirements before running a comparison comparing suppliers and tariffs to find the best rates, contract lengths and benefits, such as their green credentials, for your business.
Switching business gas and electricity is a straightforward process similar to switching your home supply.
Once you've found the deal that suits you best, the new supplier will take care of organising the changeover and will confirm all costs, payment methods and dates. Always remember to check all details are correct before proceeding. Once all agreed, the switch will happen without any disruption to your supply or need for groundwork.
Dependent on the size of the business, number of employees, contract length, and above all, how efficiently your business is run, the price saving from switching supplier can vary.
Each business is treated uniquely making it difficult to pinpoint how much your business could save. However, if you haven't reviewed your energy tariffs for a few years, or you're moving into a new premises, then there is most certainly savings that can be had.
Once you've entered the switching window with your current supplier (usually between 1-6 months before the end of your agreement) you can start lining up your next energy tariff.
Once you've chosen a provider, the new supplier will get in touch to confirm when the changeover will take place along with agreed costs, payment method and dates. Take care to check all details are correct before proceeding. As most business customers don't have a cooling off period you'll need to be completely happy with your new tariff before agreeing any new contracts.
Remember to leave your current direct debit in place until your old supplier has sent a final bill as they may owe you money or vice versa.
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