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Compare Business Gas and Electricity Prices February 2024
Compare Business Utility Prices
Business energy is likely to be a necessity for most UK companies and any of us in the corporate world understand the importance of reducing overhead costs where possible and business energy is a quick and easy way to do this. However so many of us get stuck in the rut of staying with the same provider year after year likely to be costing us thousands. What parts of your business could be that money is put to better use? Follow the links below to see how much you could save
Good To Know
- Your Business is likely to be subject to a credit check
- If you have an existing provider you will need to give them notice, failure to do that usually results in being put on a more expensive tariff
- If there is any debt held with your existing provider it’s unlikely you would be allowed to switch until that debt is cleared
How to Switch Your Business Energy Supplier
‘When it comes to switching, the power is in people’s hands to get a better deal and save’, says Energy and Climate Change Secretary Ed Davey. The good news is it’s a competitive market, which means businesses are in control. SMEs should carefully consider the current deals available to ensure they’re getting the best rates and the best service to meet their growing and evolving needs. Using online comparison tools, it’s easier – and quicker – than ever before to compare business electricity rates. Switching your energy supplier doesn’t need to be complicated or time consuming – complete our form and we will help find the best deal for your business.
Compare Business Electricity Rates
Every business needs electricity for something. Typical use for business electricity can involve the obvious – lights, computers, printers, CCTV but the list can be endless and I’m sure we are all aware of what business electricity does! However, many businesses stay with their current business electricity provider on a rolling contract and end up paying for it. What’s worse is that 8 out of 10 businesses say they either didn’t receive or don’t remember receiving a renewal letter. With approximately 1 in 3 businesses actually being in a position to switch business electricity suppliers at any time, they just don’t know it.
Business electricity is one of the areas you can make quick savings and lower your overheads straight away. The suppliers don’t offer loyalty rewards so why should you offer them loyalty? We couldn’t think of a logical reason either! So we made comparing business electricity rates simple and transparent. This allows you to be put in control of your utility costs. You can reduce your overheads and benefit from saving important cash.
Our simple online form takes about a minute and all you need to enter is:
- Your current supplier details
- Your postcode
- Your current use
- An email address for the quotes to be sent to
Submit the details on the form and you will get a list of the best quotes available, so you or your business doesn’t have to do any research, however, if you want to do this yourself – we have outlined below how to find the best supplier energy supplier for your business.
What Does my Business Need from an Electricity Supplier?
Whether you’re a new start-up, an ever-growing and developing SME, or a large, established organisation, there are many factors you should be looking for in your business electricity contract:
You may have heard long term energy contracts are cheaper for businesses than short term contracts and, with business electricity prices so unpredictable, this is certainly true to an extent. However, for new start-ups, a short term deal could be just what you’re looking for. As a new business, in a new premise, you may not fully anticipate your expected energy usage, which could mean that you end up paying above the odds by entering into the wrong long term contract with the wrong business electricity suppliers. Providers like EDF offer six to nine month terms, a 30 day notice period, and no exit fees, allowing new start-ups to settle in and grow and develop their business before committing to a specific supplier, plan, or rate.
Small and Medium Enterprises
Small and medium enterprises (SMEs) are frequently faced with one main concerns when it comes to business energy – electricity costs. SMEs often need to work to tight budgets, with no room for unexpected outgoings. If budget is a primary concern, it’s recommended that SMEs search for business electricity suppliers who offer fixed rate plans which mean you pay a set rate each month regardless of any significant changes in business electricity prices or business gas prices. As business energy prices can sometimes be unpredictable, experts are claiming that ‘most the best deals on the market remain fixed, meaning cheaper energy and protection against rises’. Of course, business electricity prices may plummet, but fixed rates still remain an attractive option for SMEs.
Do flexible business electricity plans offer the best rates? No – fixed rate plans are much better if business electricity prices are your main concern. However, that’s not to say larger corporations won’t benefit from being on a flexible plan. While prices can go rise and drop in line with market trends, what these plans give you is the ultimate control over how you manage your business energy. Variable plans allow corporations to switch suppliers whenever they like, without being tied into a lengthy contract, meaning they can regularly change provider to ensure they’re getting the best deal. How do you find the best deal? By comparing prices! Price comparison tools are a fast, easy way to see what deals business electricity suppliers are offering to their customers.
New Business Electricity Suppliers Shaking Up the Market
We’ve all heard of the ‘Big 6’ business electricity suppliers – British Gas, EDF Energy, E.ON, npower, Scottish Power, and SSE – but how many other business electricity suppliers can you name? If you’re exclusively focused on the ‘Big 6’, you may not be getting the best deal for your business electricity – or the best service. Many smaller suppliers are beginning to shake up the market by offering improved services and more attractive rates than their larger, more well known counterparts.
In 2015, the Telegraph newspaper reported on the ‘best’ and ‘worst’ business electricity suppliers in terms of customer service, and the results may surprise you. Based on customer satisfaction rates, the ‘Big 6’ where amongst the 7 worst business electricity suppliers. Taking the top 5 places on the leaderboard were the following:
- Good Energy
- Ovo Energy
- Utility Warehouse
How many of those suppliers have you heard of? How many would you consider for your business electricity needs? Research likes this shows us why it’s so important not to get caught up by the big names, and outlines just some ways that small businesses could benefit from looking at alternative business electricity suppliers, and some industry’s latest newcomers.
The good news is many customers are beginning to realise the most well known business electricity suppliers may not always offer the best service, or the best rates. Energy UK reports more than one third of all customers who switch supplier each month move from a large provider to a smaller, independent enterprise in a bid to secure the best deal for them, at the best price.
Compare Business Gas Prices
Business gas is an essential for many businesses throughout the UK but as with many bills you may find that you have kept the same supplier since you moved in. This means you could be paying over the odds for your business gas and that’s where we can help. Reducing your gas costs can have a big impact your bottom line and if you look at reducing gas and electric you may save thousands per year. Business gas can literally be burning a hole in your pocket!
To get an accurate business gas quote there are a few things that are helpful to have to hand:
- Your annual business gas consumption
- Full address and postcode of each commercial property you own or rent
- Your most recent business gas bill
If saving costs wasn’t motivation enough to switch over we have another reason that’s not always considered – the good of the economy, power to the people, the start of a business gas price revolution. OK that may be slightly exaggerated but if more people switch suppliers naturally going for cheaper deals it means the energy companies themselves will have to become more competitive. They would also need to think more about how to keep existing business and become innovative which all means added value for you and other businesses just like you across the UK.
If you are a high level consumer of commercial gas you may find that you can ask the provider for a tailored quote to save even more money. There are a few points that are good to know for high business gas users:
- You may have an authorised supply capacity (the maximum amount of gas your business is permitted to use set by the gas transporter)
- For high business gas use, some premises may be supplied on an interruptible basis (where your gas supply can be interrupted if agreed). It’s worth noting if you have this service already in place and are switching suppliers it is important that you provide your new gas supplier with emergency contact details for these premises, in accordance with the Gas Safety Management Regulations.
- Emergency contact details will also be required for sites consuming over 25K therms. When switching your new provider can give you more information should you have any questions.
Is Your Business Paying Too Much in Gas Prices?
What industry research is telling us is that, despite business gas prices seemingly becoming more affordable on the surface, many of us may still be paying above and beyond for our energy. So what’s the best way to ensure we’re not paying too much? By shopping around for the best deals, and by comparing the best deals. It does pay to compare business energy costs. Here are just some advantages of using an online comparison specialist:
Identify New Suppliers
You may not always get the best prices from the ‘Big 6’. Comparison tools can help you identify smaller suppliers who may offer more attractive rates.
Clear Outline of Service
Comparison tools tell you everything you need to know. You’ll compare different packages from different suppliers online quickly and easily.
Best Prices & Deals
A comparison tool can help you shop around for the best prices. You can compare similar services, and choose the option that will fit into your budget more easily.
Are the ‘Big Six’ About to be Overshadowed?
The Big 6 – British Gas, SSE, EDF Energy, E.On, Scottish Power, and Npower – have continuously dominated the market for as long as we can remember, but it all that about to change? While the Big 6 are continuing to dominate, recent figures suggest they’re slowly but steadily losing market share, and could come under threat from smaller, independent supplier in the near future.
Just 9 years ago, the Big 6 boasted a market share of 99.8 percent, but today only account for 78.4 percent of the market. Independent business energy suppliers, however, are on the up, and figures show there are now three times as many smaller suppliers today than in 2010. SMEs are being urged to consider smaller suppliers due to the many benefits that they could bring to the business. Advantages of switching to an independent supplier include:
On average, smaller business electricity suppliers offer better rates than the Big 6. This is because independent suppliers are not subjected to the same government licensing issues as larger corporations, and can use this saving to their advantage by offering more competitive business gas prices and electricity prices than their Big 6 counterparts.
A common concern regarding smaller suppliers is they may not be trustworthy, and while this can be a legitimate worry, it’s important to realise some smaller suppliers aren’t that small at all. The UK’s largest business electricity supplier currently has more than 550,000 customers – and almost twice as many accounts.
Good Customer Service
The level of customer service you receive can never be guaranteed, but on the whole many are reporting that smaller suppliers are better with their customers than the Big 6. It’s being suggested as smaller suppliers do not need to focus on aspects like generation and distribution, they have more resources for focusing on customers.
The Competition and Markets Authority is reportedly considering breaking up the Big 6, which means numbers of business electricity suppliers businesses have to choose from will grow considerably. For SMEs, it’s never been more important to compare business energy prices online to identify the best suppliers, and the best business electricity rates.
We have all the tools you need to find the best business utility deals. Fill out our form and one of our comparison experts will be more than happy to assist.