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Save your business money by comparing and switching your commercial electricity deal.
There’s no sense in wasting money that could be invested back into your business. It’s important for every organisation to keep a close eye on their bottom line and make sensible decisions about how they spend their cash.
Powering a business creates a significant cost, particularly with the increasing dependence on technology that requires many businesses to use electricity constantly. To complicate matters, business electricity tariff rates fluctuate on a regular basis. Between 2018 and 2019, commercial electricity prices rose 2.7 per cent excluding the climate change levy, or 5.4 per cent including it.
Electricity prices have increased by more than 25% in the past five years, and understandably, price will be a major factor impacting whether you choose to switch energy supplier for your business.
The good news is that switching supplier is often the best way to cut your electricity bills, and it’s simpler for businesses than it is for domestic consumers. Commercial energy suppliers can’t lock your business into an automatic rollover contract or apply exit fees if you switch when moving premises, making it even easier to secure the best deals.
Utility Saving Expert has made the process of compare business electricity prices and switching tariff or supplier easier than ever.
Energy costs are a significant cost for most organisations. With your electricity bill affecting your outgoings, it makes good business sense to review your options and switch to a better electricity tariff or supplier when you find one.
The amount your company can expect to save on electricity will depend on a number of factors such as the size of your premises, where you’re located, the number of staff employed and your average energy consumption, as well as the contract you’re on.
Find a new electricity contract that suits your business needs by comparing the most competitive deals on the market with Utility Saving Expert.
Business electricity plans work slightly differently to domestic plans you’d have for our home, such as the way the price is calculated.
Unit prices are usually cheaper for businesses than they are for households. This is because businesses use more energy and suppliers reward them with better deals. It’s worth noting that most business customers will also pay more VAT.
How much any organisation pays for power will depend on the size of the business and how much electricity they use. Just like households, businesses can choose from different types of tariffs, including fixed-rate and variable.
Most businesses will use fixed-rate tariffs, meaning wholesale price rises will not affect what they pay for electricity. There may be a possibility to opt for longer-term contracts with some of the bigger energy suppliers to lock-in lower prices.
Every business will be able to find a contract and supplier that suits them, whether that relates to their finances, preferred method, company ethos or customer service expectations.
Switching tip: Businesses save £1,150 on average when they switch business electricity deals using Utility Saving Expert. Compare now and start saving money.
You’ll pay a guaranteed price for each unit of electricity you use over a set period of time. Often the cheapest and the most popular option, the cost of your business electricity will stay the same throughout your contract.
What you pay can vary and unit prices may rise or fall depending on the market. Sometimes you can pay for the energy you think you’ll use upfront, but prices may drop after you buy. These business electricity tariffs are often pricier than fixed rates. Contracts can usually be cancelled with a notice period of 30 days.
For the most accuracy, half-hourly meters will record your energy usage and send them to your supplier, who may offer tailored pricing based on how and when your business uses electricity. On this tariff, you’ll only pay for the electricity you use.
You can choose for your business electricity to come exclusively from renewable sources, helping ensure your business balances its impact on the environment. A popular choice for organisations making sustainable choices, advances in technology are making green energy tariffs an increasingly affordable option.
If your contract expires and you have not negotiated a new deal, your business may be switched to a default charge. This is likely to be the most expensive option, so it’s a good idea to compare and switch business electricity tariff as soon as possible.
If you have recently moved into new premises, you may be without an active contract and supplied by the past tenant or owner’s business electricity supplier. Deemed tariff rates will apply until a new contract is put in place, and they can be pricey.
Energy industry regulator Ofgem identified that deemed contracts cost around 80% more in comparison to standard fixed-rate or variable contracts. If you are currently on a deemed contract, you could save a tremendous amount of money by comparing business electricity prices and switching to a cheaper business electricity tariff.
The UK’s leading socially-conscious business electricity comparison site, Utility Saving Expert compares trusted energy providers and tailors results to suit your needs.
We’ll guide you through the entire comparison and switching process to ensure you find the best possible electricity deals to power your business. You can choose from the most competitive electricity tariffs and make the switch in less time than it takes to complete the coffee round.
You’re guaranteed to find the best prices using our comparison tool, and it’s at no cost to you whatsoever. When you switch to a cheaper business electricity deal, you’ll keep all of your savings and you can invest your extra cash back into your business.
All you need to compare deals is your postcode and some information about your electricity usage and current supplier. After that, we’ll generate bespoke results based on your needs within seconds, showing you clearly how much you could save for each result.
We partner with a huge range of highly reliable energy suppliers with a great track record. From the large, well-known brands that make up the Big Six to smaller, newer energy companies shaking up the industry, there’s something for everyone.
After you confirm you’d like to switch to a better deal, there’s not much else you need to do. Leave it to us to liaise with your new supplier. The whole process will be managed for you, including notifying your current supplier about the switch.
You won’t find better prices elsewhere, even on suppliers’ websites. We’re 100% independent and impartial and will always show the best deals, even if they’re with a supplier we don’t partner with. You’re guaranteed to find to the most competitive business electricity tariff.
There’s no cost for your business to use Utility Saving Expert, but there are plenty of advantages, including relating to corporate social responsibility. We donate 10% of profits to charities fighting fuel poverty, so just by using our business electricity price comparison engine, your business has a positive impact on society.
"Easy to use, great savings to be had on both business electricity and gas."
Dan, Utility Saving Expert customer
Comparing and switching business electricity supplier can be done in minutes. The process is straightforward:
The search results will show you a list of what business electricity deals are available and estimates of annual and monthly costs for 1- to 5-year contracts, along with important information about each provider to help you choose.
The price your business pays for electricity will depend on a variety of factors, including:
The easiest way to find the best business electricity deals is to compare business electricity prices from top suppliers using Utility Saving Expert’s online comparison tool. The results we generate will be tailored to your business, giving you an estimate of your bills for each deal and telling you how much you could save.
To switch your commercial electricity provider, you’ll need the following details.
For the most accurate results, it’s best to refer to details from a recent electricity bill. If you don’t have a paper copy, check to see if your supplier has online billing or contact them to ask for the information.
If you can’t access the information right now, don’t worry. You can still search and compare commercial suppliers, but you won’t be able to verify the exact amount you could save.
If you’re unsure, call us today on 01242 32 31 31 to speak to one of our energy experts.
Your bills will typically include references to:
The unit price is what you pay for each unit of energy, measured in kilowatt hours (kWh). If you’re on a fixed-rate tariff, the price you pay for each unit of electricity will remain the same, but your bill will change depending on how much electricity you’re using.
The standing charge is the fee you pay your energy provider for the service of supplying your business with power. It’s a fixed daily cost that won’t change, no matter how much electricity your business uses.
Switching business electricity is similar to switching your domestic tariff. Once you confirm you want to switch, your new business electricity supplier will manage the switch from start to finish.
All you need to provide is a few necessary details like your billing information. You can leave the rest to your new supplier, who will manage the whole process for you, including contacting the company that previously supplied your electricity.
Before you switch, make sure you’re happy with all the terms and conditions because, unlike with household switches, you will not be given a 14-day cooling off period when switching your commercial electricity supplier.
The switch should be complete within 21 working days, and throughout the process you won’t experience any downtime. Your power supply will continue as normal, meaning you have no need to worry about losing power in any of your business premises.
If you choose to end your existing contract early, you will probably be charged an exit fee. It’s worth weighing up the benefits and drawbacks of switching early to see what will be best for your business financially. If you’re in debt with your current supplier, you may not be able to switch.
Energy contracts are attached to premises, rather than account holders. This means that if your business wishes to cancel your contract when moving premises, there are no exit fees or financial penalties.
Even if you don’t want to cancel your current contract, you can compare business electricity contracts regularly to keep an eye on the best deals on offer. You might just find an incredible deal for when your contract ends.
Most contracts will last between 1-3 years, but there are shorter or longer duration contracts that could last anywhere between 3 months and 5 years.
If you’re trying to work out what contract length would be best, consider how much flexibility your business needs, compared with stability. You should also consider how likely it is that you’ll want to switch tariff early, and what factors may change, such as whether your business is likely to grow, re-locate, or occupy more premises in the near future.
Depending on your circumstances, short-term electricity contracts could offer you a reasonably-priced deal with the right amount of flexibility, making them a good choice for some businesses.
However, with shorter contracts, you’ll need to shop around more regularly. It’s important to compare and switch your commercial electricity supplier when your contract is up to avoid being switched on to an expensive default tariff.
Long-term contracts can be useful for businesses looking to lock in rates for a longer duration. If you find a good deal whilst electricity prices are low, you could end up securing a bargain.
Some suppliers will negotiate good deals for long-term contracts, but it’s worth being aware that the prices offered in longer-term plans will largely depend on electricity supply and demand forecasts.
You’re probably familiar with the well-known energy suppliers known as the Big Six: British Gas, EDF, EON, Npower, Southern Electric and Scottish Power.
These suppliers control the majority of the market and some have been around for centuries, but these recognisable brands aren’t the only option.
In recent years, smaller electricity providers have been shaking up the market by offering cheaper electricity prices, and many of these newer brands are the highest-rated by consumers.
We include quotes from a wide range of reliable suppliers so that you can easily select the best option for your business.
|Energy Supplier||Price per kWh||Standing Charge||Annual Cost|
|British Gas Lite||12.40p||23.28p||£3,184.97|
From prices correct as of 10/01/2020, based on 03 profile electricity meter and annual usage of 25,000 kWh
Green business electricity can be sourced naturally from geothermal heat, plants, rain, sunlight, and wind. If you choose an electricity company that sources a large amount of its energy from a renewable source, this can be a great way for your business to make a positive impact on the environment.
Our comparison tool will show you which companies offer renewable energy options. Many offer plans that exclusively source electricity sustainably, including some of the highest-rated suppliers.
If you have solar panels and produce your own energy for your business, you may be entitled to some financial benefits. The feed-in tariff (FIT) initiative means businesses that produce their own electricity are eligible for their money back.
On top of that, you can sell excess electricity to the national grid, diversifying your business profits by adding an additional revenue stream.
Lots of businesses use smart meters, or half-hourly meters, to track how much electricity they are using. This allows organisations to gain deeper insights into their energy usage, such as when and how they use electricity, and how much their power costs them.
Using smart meters allows businesses to make adjustments where necessary to save money and use less energy. Smart meters have the added benefit of improved bill accuracy and clarity; you only pay for what has been used and you’ll see exactly how your business is spending money.
Hundreds of thousands of organisations in the UK use half-hourly electricity meters, and with such detailed reporting, potential providers may offer bespoke quotes based on specific business needs.
One of the most obvious ways businesses can save money on energy bills is by using less. As you might expect, cutting back on your electricity consumption will reduce costs.
The modern reliance on technology, and therefore power, for almost all businesses makes this more complex, but there are lots of ways that any organisation can produce quick results.
According to The Carbon Trust, simple changes could translate to 20% savings on your energy bills, which represents the same bottom line benefit as a 5% increase in sales for many businesses.
Switching tariff is one of the best ways to reduce electricity costs, but not if you’re locked into a contract. However, you can exit your contract early and without penalties if you re-locate.
Your energy contract is connected to the business address, not the business owner. The bill payer won’t be charged an exit fee for ending an electricity contract early when a business moves location.
On top of this, suppliers may set different price-points for different regions. If you’re thinking of moving business premise, it’s worth weighing up whether there will be financial advantages to setting up shop in a different region.
Businesses operating on multiple sites across different locations can benefit from multi-site meters to monitor and reduce their electricity costs.
Comparing multi-site quotes becomes slightly more complex, so we recommend you call one of our expert advisors on 01242 32 31 31 to talk through your options and find the best possible deals.
Wholesale electricity prices reflect demand, and normally rise during winter months that are dark and cold, peaking in January and February.
You are more likely to find cheaper deals at the end of summer, when there is less need for lighting or heating homes using electricity.
You could save thousands of pounds when you compare and switch business electricity using Utility Saving Expert. We guarantee to beat your renewal quote, or we’ll give you £1,000.
Even at the end of your contract, suppliers usually need at least 30 days' notice that you’re going to leave. It’s important that you check your contact, because some suppliers insist on more than 90 days' notice.
Unlike with household electricity contracts, you won’t get the benefit of a 14-day cooling-off period with your new business electricity supplier. Make sure you’re happy with the terms and conditions of the contract before you finalise the deal.
You can expect to pay anywhere between 12-25p per kWh in addition to your standing charge if you run a small business that consumes an average amount of electricity. Larger businesses may benefit from their size and increased electricity consumption, paying even less per unit.
Whilst the definition of a small business varies, it usually depends on the number of staff employed by your business, your annual turnover and energy usage
Micro-businesses have 10 or fewer employees, turn over less than €2 million per year and use less than 100,000 kWh of electricity per year. Suppliers provide extra support to micro-businesses with additional clarity, important dates and consumption data on their bills.
You can continue to run your electricity through your household contract if you work from home and have a low energy usage, and this will likely be the cheapest option. However, if your work involves higher electricity usage that covers multiple areas of your home, it’s a good idea to compare business electricity options to find the best deal.
According to the UK Goverment, here are the average rates in p/kWh for different sizes of businesses in the UK (excluding CCL) in Q3 of 2019:
Taking into account the figures above, if you are paying more than 13.95 p/kWh for your electricity contract you are paying more than avereage
It was also reported by the governement that “the average price of electricity, including CCL, has risen by 8.0% in real terms over the past five years and by 4.6% on the previous year."