Business Electricity Comparison
Compare Business Electricity Prices, Suppliers & kWh Rates
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How To Compare Business Electricity Rates
Comparing business electricity rates goes beyond looking for the cheapest deal. It involves knowing your annual electricity consumption, your current supply type, and which commercial electricity contract you’re currently on. Armed with this knowledge, you’re better equipped to compare electricity tariffs from various energy suppliers.
Whether you’re a micro business or a large enterprise in the UK, Utility Saving Expert can help you find the best deal by comparing prices from various reputable energy suppliers within minutes.
And with the high cost of electricity, cutting costs can substantially increase business profitability.
Switching suppliers can potentially reduce your electricity bill by 45%.
Before you start comparing, here’s what you need to do first:
- Annual electricity usage: Check your past energy bills for yearly electricity consumption, usually represented in kilowatt-hours (kWh).
- Annual electricity spend: Know your annual spend on commercial electricity and the current price per kWh rate (p/kWh) you’re charged.
- Know your supply type: This could be standard, Economy 7, or Economy 10, for example.
- Contract status: Are you tied into a contract with your current business electricity supplier? If so, will you incur exit fees?
- Contract end date: Knowing when your current business electricity contract ends helps you plan for making the switch.
Understanding these key factors will help you with your business electricity comparison.
What Makes Our Comparison Tool Stand Out?
Our comparison platform does more than just list potential suppliers; it gives a detailed breakdown of each offer.
This includes:
- Tariff type – such as fixed-rate, variable rate, or green tariffs.
- Duration of the contract.
- Extra perks or features.
With this comprehensive information, you’re able to choose an option that aligns perfectly with your company’s energy usage, financial plan, and sustainability goals.
Plus, we understand the volatility of the energy market and that prices can change due to a variety of factors. Our online comparison tool provides real-time commercial energy data, ensuring you’re presented with the latest and most competitive prices on the market.
So, why wait? Start comparing business energy deals with Utility Saving Expert today and discover how much your business could save.
Business Electricity Suppliers We Work With
British Gas
As the UK’s largest energy provider, British Gas supplies more than 350,000 businesses. Zero-carbon electricity is standard, and 100% renewable electricity tariffs are available.
EDF Energy
EDF is one of the largest business electricity providers for SMEs. EDF offers online account management, smart metering, and EV charging services.
SSE
Business electricity tariffs with both fixed-price plans and fully flexible contracts are available. SSE generates 100% renewable electricity from their own wind and hydro assets.
Valda Energy
Valda offers 24/7 account management with flexible business electricity payments.
Crown Gas & Power
Crown Gas & Power is known for its competitive pricing and has been serving the UK for over two decades.
Scottish Power
Scottish Power, part of the Iberdrola Group, offers competitive renewable electricity prices to the domestic and non-domestic sectors.
We’ve partnered with a mix of established and up-and-coming UK business electricity suppliers to help you find the ideal fit for your operational needs.
These established players offer competitive rates and have well-developed customer infrastructure in place.
Emerging energy suppliers
- BG Lite
- Opus Energy
- Total Gas & Power
- British Gas Plus
- Smartest Energy
Smaller, forward-thinking firms offer distinctive plans and competitive rates, with a keen emphasis on ensuring customer satisfaction.
Additional energy suppliers
- Corona Energy
- Haven Power
- Npower
- ON
- Advanti Gas
- Squeaky
These business energy suppliers often endorse renewable energy sources, offering green business tariffs that align with the UK’s net zero goal.
See our full list of reputable business energy suppliers here.
Compare 2024 Business Electricity kWh Rates
4 Simple Steps To Switch Business Electricity Suppliers
Enter your business postcode details on our form. If you need help, call our energy experts on 01242 32 31 31.
We’ll provide you with a list of business energy quotes and tariffs that fit your needs.
Compare the different business energy contracts and choose the one you like. Your new supplier will handle the switch on your behalf.
Your switch will be complete within 4 to 6 weeks; sit back and enjoy the savings on your next energy bill.
Are Business Electricity Prices Falling?
Commercial electricity prices have dropped 62% since October 2022 and industry experts from Cornwall Insight predict prices to remain constant for the foreseeable future. Armed with these insights, business owners are eager to lock in the best electricity tariffs to capitalise on price stability in the energy market.
This graph represents a commercial electricity price comparison between 2022/3 vs. 2023/4.
All prices are per kWh. Updated October 2024.
This remarkable decline translates to substantial business electricity savings.
Business Electricity Prices by Business Size 2024
Several factors can impact the cost of business electricity, such as your geographical location, energy consumption, and the scale of your business.
To assist with your decision when switching, we’ve outlined the average electricity rates based on business size. These figures reflect a 2-year fixed tariff.
| Business Size | Annual Usage | Unit Price per kWh | Daily Standing Charge | Annual Cost | Compare Live Deals |
|---|---|---|---|---|---|
| Micro Business | up to 5,000kWh | 25.2p | 63.4p | £860.50 | Compare Tariffs |
| Small Business | 5,000-15,000kWh | 24.7p | 76.7p | £2,747.52 | Compare Tariffs |
| Medium Business | 15,000-25,000kWh | 24.6p | 79.5p | £5,216.76 | Compare Tariffs |
| Large Business | 25,000-50,000kWh | 25p | 88.5p | £9,716.50 | Compare Tariffs |
| Very Large | > 50,000kWh | 24.6p | 105.7p | £18,852.90 | Compare Tariffs |
Note: Data accurate as of October 2024.
Annual costs are calculated based on a 2-year contract and typical kWh usage for each business size category. These rates represent current market conditions and may vary over time.
Cheapest Business Electricity Rates by Supplier
| Supplier | Unit Price (per kWh) | Standing Charge (per day) | Annual Cost | Compare Live Deals |
|---|---|---|---|---|
| British Gas | 25.7p | 62p | £6,659.69 | Compare Suppliers |
| British Gas Lite | 25.7p | 42p | £6,571.87 | Compare Suppliers |
| EDF Energy | 26.9p | 50p | £6,918.21 | Compare Suppliers |
| Scottish Power | 23.4p | 125p | £6,315.91 | Compare Suppliers |
| Smartest Energy | 25p | 62.3p | £6,466.18 | Compare Suppliers |
Based upon a business using 25,000 kWh of electricity annually, we’ve provided an example using a 2-year fixed-rate deal.
The table was last updated in October 2024.
How to find the cheapest business electricity rates
Our online platform is designed to compare business electricity tariffs from various suppliers. Once you’ve whittled down your list to a few preferred electricity providers, ask each supplier to provide you with a hardcopy quotation – then use these in negotiating electricity prices with other providers.
Alternatively, you can use energy brokers to assist you.
Compare Business Electricity Rates & Prices
Overview of business electricity tariffs
Let’s take a deep dive into the various business electricity tariffs available:
Fixed-Rate Business Tariffs
Fixed rates lock in electricity prices for the entire duration of your business electricity contract. It is the most popular choice for businesses because it offers price stability and peace of mind.
This means that if wholesale prices rise, your unit price remains constant – allowing for better budgeting and financial planning.
However, fixed-rate business energy contracts are typically longer (up to five years) than domestic contracts (one to three years).
Green Electricity Tariffs
Green – or renewable electricity – tariffs are when your electricity supplier matches the electricity you buy with renewable energy sources. If sustainability is what you’re after, opt for green tariffs to reduce your carbon footprint and potentially save money on your energy bills.
Pass-Through Tariffs
Pass-through rates are charges on a business’s energy bill for costs that are beyond the control of the energy supplier, such as transmission, distribution, and government levies.
For instance, fixed-rate contracts lock in the price per unit of electricity, but other charges like network fees and green levies may fluctuate, leading to some variation in your monthly bill. Pass-through rates show this transparency so you can see exactly what each cost is.
Variable kWh Rate
This plan adjusts your unit price monthly based on the wholesale market. It’s flexible and can save money when prices drop, but budgeting can be tricky as costs fluctuate.
Out-of-Contract Business Rates
If you don’t switch plans before your contract ends, you automatically go onto much higher “out-of-contract” rates when no contract is in place.
Businesses may find themselves on out-of-contract rates if they fail to negotiate a new deal before their current fixed-rate contract expires or if they move to a new location and don’t immediately set up an energy contract.
Rollover Tariffs
Rollover tariffs are essentially a penalty for inaction.
Businesses may find themselves with rollover tariffs when they “forget” to renew or renegotiate new contract terms with their current supplier.
Rollover tariffs automatically renew if the business doesn’t switch suppliers or negotiate a new deal before the current deal ends. These are significantly more expensive than the original contract rates.
Rollover tariffs may look similar to out-of-contract deals but differ ever so slightly. Rollover rates are applied when the supplier automatically “rolls over” your tariffs to a new contract whereas out-of-contract tariffs apply when you don’t have a contract in place.
Business Smart Meters
Smart meters track your exact energy usage and send the readings automatically. This means no more estimated bills or manual meter readings – you only pay for the electricity you use.
Deemed Business Rates
Deemed business rates are applied when businesses move into new premises without having set up an electricity contract with a new supplier. They have one of the highest electricity rates!
These rates differ from out-of-contract deals as they occur when no previous contract was put into place. Out-of-contract tariffs are when businesses have/had an existing contract but didn’t negotiate new terms before the contract expired.
Commercial Electricity Comparison, Made Simple
How to optimise your business electricity bills
There are several ways to optimise your business electricity bills, such as:
Energy conservation
The most cost-effective way to reduce your electricity bill is simply to use less energy.
Implement practices like switching off lights (or opting for LED bulbs) and electronics during non-use hours, switching to A-grade energy-efficient appliances, and optimising heating and cooling systems.
Useful Insight: LED bulbs can save up to 80% on lighting costs, while lowering heating temperatures by just 1°C can reduce electricity/fuel consumption by 8%!
Invest in high-quality insulation
Ensuring your commercial property is well-insulated with double-glazed windows and ceiling insulation can reduce energy consumption by up to 10%.
Business relocation
If your lease is expiring, consider relocating to a building with better energy efficiency features. Look for properties with modern insulation, efficient lighting systems, and possible on-site renewable energy sources like solar panels.
Top tip: Energy contracts are tied to the business premises, not the business owner. So, if you’re relocating, you can exit your commercial contract early without penalties.
Secure a multi-site deal
Negotiate a multi-site deal with your supplier if you have multiple business locations. Bundling your energy needs and potentially securing a better bulk discount can lead to significant cost savings.
Timing your tariff switch
Don’t wait until your current contract expires before you make the switch.
Monitor wholesale electricity market trends and consider switching to a new plan with a better rate before your contract automatically rolls over to a potentially more expensive option.
Utility Saving Expert’s comparison tool can help you track market changes and identify the best deals.
Top tip: Energy prices peak during winter months. Consider switching energy providers towards the end of summer for the best electricity deals.
Optimise energy usage with commercial smart meters
Upgrade to a commercial smart meter. These intelligent meters provide real-time data on your energy consumption, allowing you to identify peak usage periods and implement targeted energy-saving strategies. By understanding your consumption patterns, you can make informed decisions about optimising energy usage and reducing costs.
Why choose Utility Saving Expert for your business electricity switch?
Fast online price comparison
Compare business gas and electricity prices and switch your provider within minutes.
Transparent, unbiased advice
We pride ourselves on being open and transparent.
We offer impartial, unbiased comparisons of the commercial energy market, ensuring you get the best rates based on your specific needs.
Wide range of reliable suppliers
We’ve partnered with a wide range of energy suppliers, such as British Gas, Npower, EDF Energy, and Octopus Energy, ensuring you get both excellent rates and dependable service within minutes.
Hassle-free switching process
Every year, thousands of UK businesses rely on us for our innovative technology and expert team to simplify the process of switching suppliers. Whether you’re thinking about moving to a new supplier or discussing terms with your existing one, we’re committed to getting you the most favourable deal possible.
Guaranteed best electricity prices
Our cutting-edge system uses the latest pricing to find you the most competitive deals, every time.
Socially-conscious business comparison
We donate 10% of our profits to charities that combat fuel poverty, extending our positive influence beyond just your business.
Compare business electricity prices, suppliers & kWh rates
Utility Saving Expert can help you get cheaper Business Electricity by comparing quotes from top UK providers. Use our handy online comparison tool to compare quotes based on your specific needs and what you want from your business electricity.
Compare quotes with Utility Saving Expert today.
Written by Chris Richards
Page last reviewed on 12th October 2024 by Chris Richards
Frequently Asked Questions (FAQs)
Should I fix my business electricity rates?
It’s beneficial for businesses to fix their electricity rates (i.e. fixed-rate tariffs) as this allows for better budgeting and financial planning.
Is business electricity cheaper than residential?
Business electricity has cheaper tariffs when compared to domestic electricity due to higher consumption volumes. However, additional charges like 20% VAT (only 5% for domestic) and the Climate Change Levy can make business energy bills seem more expensive overall.
Will my business electricity meter need to be replaced if I switch supplier?
Standard meters usually don’t need to be replaced, but smart meters may need replacing if they are incompatible with your new energy supplier.
Who are the Big Six energy suppliers in the UK?
The “Big Six” are dominant energy providers in the UK who hold the largest market share, namely:
- British Gas
- EDF Energy
- E.ON
- Npower (now a subsidiary of E.ON Energy)
- Scottish Power
- SSE Energy
Is the Energy Bills Discount Scheme still available for high-consuming businesses?
No, the Energy Bills Discount Scheme (EBDS) ran for 12 months from 1 April 2023 until 31 March 2024, replacing the Energy Bill Relief Scheme (EBRS) from the previous year.
How much electricity should my business be using and what is the cost?
Electricity consumption varies widely depending on the size of your business, location, current tariffs, and the amount of electricity you use.
For instance, microbusinesses – using up to 5,000 kWh of electricity – can expect to pay around £1,506.21 for annual electricity bills. Larger businesses – using 25,000 – 50,000 kWh of electricity – can pay up to £13,348.26 for annual bills.