Finding a better business energy deal isn't as straightforward as getting a new contract for your house.
With a business energy deal, there is no dual fuel option, menaing that you will need a separate contract for your gas and electrcity. Finding a commercial electricity deal that works for your business can be tricky, however, knowing what to do and where to look when comparing can already put you ahead of many other businesses.
Why is it important to compare business electricity rates?
By comparing different energy suppliers and prices your business will save itself a lot of money, in fact by comparing some businesses have found that they saved up to 45% on their annual savings, as opposed to just renewing with their current supplier.
What can contribute to the cost of business electricity?
- Industry - The type of industry your business operates in can majorly affect how much you pay for your electricity. For example, energy-intensive businesses such as manufacturing, or construction businesses are going to have much higher electricity costs.
- Business size - Whether you are a small business, or a large business is going to affect how much you pay for electricity. Comparing business electricity will be very different for businesses based on size as well. Larger businesses with a half-hourly meter could be offered lower bespoke rates due to the amount of energy they use.
- Location - Where your business is located can play a massive part in how much your energy costs. Your energy rates are going to be based on the area you are in and how far your electricity has to be sent to reach you. Before moving business premises it's always good to research whether the location will be more cost-effective.
- Energy market - The wholesale energy market will affect how much businesses pay for energy. Many business customers ensure that switch when prices are lower. It is important when switching business electricity to know when prices going to fluctuate so you can plan when it comes to renewing your contract.
Will electricity prices get cheaper?
As a business owner, you may find it difficult to stay on top of energy market movements or price fluctuations, however, this is vital to know when the cheapest time for renewing is.
As the energy market is very volatile and can be affected by many factors it is difficult to pinpoint when prices are going to rise and fall in the future. Many energy experts can advise when the best time is to sign your next contract.
How much do businesses pay for electricity?
The amount businesses can pay can vary, however, businesses that are similar in size and have similar usages to your business will likely pay similar prices.
Micro business
Based on a 10,000 kWh usage Micro Businesses can pay anywhere between £2000 to £3,200 per year for their electricity.
Small business
Based on a 23,000 kWh usage small businesses can pay anywhere between £4000 to £6,900 per year for their electricity.
Medium business
Based on a 50,000 kWh usage medium businesses could pay anywhere from £10,000 to £13,700 for their electricity.
Large businesses
Based on a 55,000+ kWh large businesses could pay anything above £16,000 for their electricity.
These rates above are just to give you an idea of what your business could be paying, this could be more or less depending on the time you switch and what type of contract you go with. By working with Resolve Energy we could even get you prices under the average prices shown.
The different rates businesses will pay
Unit rate
The unit rate is the rate you charge for the amount of electricity or gas that you use. You can either fix or vary this throughout your contract depending on your contract type.
- fixed rate - A fixed rate contract will mean the amount that you pay for your energy will remain the same throughout your contract.
- variable rate - A variable rate tariff will mean that the price you pay for your energy will vary depending on the wholesale market.
Standing charge
The standing charge is a fee that you are charged no matter how much electricity or gas you use. This covers the cost of running the energy network and distributing energy to your property.
Getting the best business energy contract?
Getting the best electricity rates for your business can seem like a lot of work if you don't know where to start. There are a few things you need to look into when getting a new business electricity tariff.
Why should I switch suppliers?
Switching suppliers can help your business save money. Suppliers work on a very competitive pricing basis to try and get as many new customers as possible, therefore by comparing and shopping around, other suppliers may offer you much more competitive rates than your current supplier is.
Resolve Energy has a strong relationship with the UK's biggest commercial energy suppliers. When you switch with us we will use our relationship with suppliers to offer you even cheaper prices that you might not be able to get on your own.
How to compare business electricity prices?
To find the best contract for your electricity supply, you need to look at prices, the future energy market and which suppliers are the best to work with. Without careful consideration of your choices, you could end up stuck with contract rates.
However, trying to run your business can be difficult and finding the best energy prices could be too much to juggle. To ensure this process is done properly you are best working with an energy consultant, like ourselves at Resolve Energy.
Our team of energy experts cannot only use their expert market insight to find your business the best energy contract possible but also manage any issues you may have for the duration of your energy contract.
If you're looking to save money on your energy bills then why not get in touch today? The relationships Resolve Energy has developed with over 24 of the UK’s biggest business energy suppliers allows our energy experts to source the best business energy rates available for your company right when you need them. Request a free quote today and start saving money on your energy.
