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What options do you have when it comes to the provision of your commercial energy in the UK? The traditional big six still account for approximately 90% of the current market with the remainder made up by smaller independents.
Learn more about the top 10 suppliers with reviews and guidance on product offerings.
Market Data Summary
Below is the latest market supply numbers for the Big Six providers.
Business Accounts by Supplier
The Big Six Suppliers
What Should I Consider When Choosing My Supplier?
When deciding who to choose, you should consider the following:
1. The Services You Require
If you just want to save money and have no loyalty to any company, then only select the cheapest tariff on our comparison tables from your business electricity quotes. However, if you need additional services such as a Smart Meter, help with reducing consumption, or have advanced invoicing requirements, then your selection diminishes.
2. How Long You Want To Fix Rates
A standard commercial electricity contract is for one year, but you can fix prices for up to five years. In the outlying years the price differential between providers increases, so it’s wise to compare more companies if you want a longer-term contract. Some suppliers offer variable-priced contracts for larger consumers of energy with half hourly meters.
3. If You Have More Than One Site
As your usage increases, your unit price reduces. The same should occur if you want a multi-site quote by grouping all your sites together so you can leverage your buying power and negotiate a packaged deal. It’s likely that only the larger suppliers can offer multi-site discounts.
Tips For Getting The Cheapest Tariff
As soon as you receive your renewal offer letter, you can start comparing new quotes from the market.
Use these tips to get the lowest price for your business:
- Tip 1: You could save money by changing your meter from one that uses one tariff at all times to a meter that charges differently during the night or at weekends.
- Tip 2: Never accept a renewal offer because there will always be a cheaper alternative.
- Tip 3: Use a comparison site or a business energy broker that can compare all suppliers so that you can choose from the whole market.
- Tip 4: The smaller independent energy providers often have lower rates than the “Big Six”, and it’s wise to include them in your search.
- Tip 5: A Smart Meter is unlikely to save you money, but installing one ensures your bills are always accurate and you never have to take meter readings.
The majority of new contracts for small businesses include a unit price plus a daily standing charge. You’ll typically pay a daily rate of 22p plus a unit price of between 13p and 18p depending on your location and the supplier you use.
Gas and Electricity Supplier FAQ
Should I Switch My Supplier?
If you’re happy with the service your energy company provides to you, then there’s no need to change your supplier. Either call them to negotiate an improved deal or ask your broker for new prices. You will still need to switch your gas or electricity contract even if you stay with your current energy company.
What Happens If I Do Nothing?
If you don’t act once you receive your renewal letter, then your prices could move to “out of contract” rates depending on the terms of your current contract. You could see a three-fold increase in your tariff until you renew your agreement.
Should I Get A Dual Fuel Tariff?
You could save money by combining gas and electricity contract together, but it varies depending on your location. It’s best to get quotes for both single fuels and a combined tariff.
How Do I Find Out Who My Supplier Is?
A recent bill should provide the answer. If you can’t find this, then contact your local electricity distribution company.
What Are My Meter Numbers?
A recent bill should show all meters associated with your company. You can also find these on the physical meter. Alternatively, a broker can match your address and postcode and find them.
Suppliers for Large Businesses
Only a handful of energy companies supply business electricity for those businesses spending over £100,000 per year or consuming over 750,000 kWh. The majority of the new entrants and independent providers concentrate on services for SMEs and micro businesses.
The tender process of getting prices is also more time consuming as each supplier produces unique and bespoke quotes for each site. It can take a week to ten days to get your proposed tariff back. Unless you have a dedicated energy consultant working for your firm, we recommend using a broker to reduce your workload.