Compare Electricity Suppliers Prices for Business Premises
If you run a business no matter what size (micro or small or even larger) then you could save thousands each year by just comparing prices for electricity and gas.
It really is a crazy world in the business electricity market as the price paid per kwh of electric can vary so much. In fact recent data showed that the cheapest contract rates were 7.5p and the most expensive recorded were 32p – for the same energy provided.
With that in mind it therefore pays to either use a broker or comparison site (although unlike domestic energy site you can’t actually do it all yourself online you have to let someone else do the work) but these sites take a few details and find the best contract for your circumstances.
Do what do you need to start comparing suppliers ?
Overall there aren’t actually many business energy companies that you can choose from but they are all competing for your business and your rates can be reduced with some careful planning. One service will compare all prices from the following service providers – British Gas, Shell, Corona energy, Scottish and Southern, Eon energy, Scottish Power, EDF energy, Npower, Opus and CNG. In reality most of the energy you consume comes into your business the same method so unless you are looking at green energy from renewables then it’s just getting the right contract.
Roll over contracts – check yours
The problem with business contracts is if they don’t get renewed then they will operate under what is known as a roll over contract. This simply means that the energy provider you are with will carry the contract over into the next year but they can usually change your rates and there’s nothing you can do about it until the following year. So if you are already on a contract check the terms and conditions first.
As you see from the rates above most businesses can save money on their energy bills up to around 60% or 70% depending on the type of contract they are on. In reality most businesses don’t shop around for new contracts and just let the energy companies charge them what they want so the savings on an annual electricity or gas bill can be huge if this is the first time you have thought about switching.
The actual switching process is very straight forward and can either be undertaken directly with your new supplier if you go direct or by an energy broker who will do all the paperwork for you.
To get a quote you’ll just need a couple of pieces of important information so long as you can terminate your contract from your current provider. You’ll need the postcode of your premises (easy one that) and your meter number. (not the meter reading but the number of your meter which is often called an MPAN and this can either be found on the meter itself or on your latest bill, usually towards the top).
Switching rates are usually the cheapest on offer, then renewal rates and then out of contract rates with the same supplier. No matter which route you go down you could save thousands and with around 90% of businesses being on roll over contracts and paying higher rates it really does make sense to shop around for this high cost utility.
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