Compare Business Electricity Suppliers
With access to our panel of trusted business electricity suppliers, we can find you a great deal in 30 seconds.
UK Business Electricity Suppliers
Why Compare Business Electricity Suppliers?
Securing better customer service and cheaper prices from business electricity suppliers are the main reasons to switch. What makes us different is that you can compare live prices online, choose a tariff from a panel of trusted UK suppliers and switch. Doing this online means you can secure better deals with suppliers any time of day or night.
We understand that choosing the right business electricity supplier for you can be a challenge. We’ve broken down all the major and challenger UK suppliers to help you make an informed decision when switching.
Table Of Contents
- What Energy Suppliers Work With Business Electricity Prices?
- What Should I Consider Before I Switch Business Electricity Suppliers?
- How Do I Choose The Best Electricity Supplier For My Business?
- What Types Of Contracts Do Business Electricity Suppliers Offer?
- Types of Electricity Suppliers
- Small Business Electricity Suppliers
- Who Are The Best-Rated Business Electricity Suppliers?
What Energy Suppliers Work With Business Electricity Prices?
We work with Love Energy Savings for our business energy comparison, and that gives us access to a panel of commercial electricity and gas suppliers. These offer some of the most competitive business energy rates on the market. Suppliers on our panel include:
- Smartest Energy
- Scottish Power
- EDF
- OPUS
- BGLite
- British Gas
- Valda
What Should I Consider Before I Switch Business Electricity Suppliers?
When you switch business electricity suppliers, you must have all the information you need before you commit to a new tariff. The supplier and tariff type you choose can influence your business’ overheads and savings.
Here, we’ve put together a few tips on what you should consider to help you find the best deals when you switch business electricity supplier.
1. Your Business Needs
If savings are your priority and you have no loyalty to any specific business electricity supplier, then you should simply select the cheapest deal available when you use a business energy comparison engine to compare business electricity suppliers.
However, if you need additional services such as a Smart Meter, help with reducing consumption, or have advanced invoicing requirements, then your selection can become more limited.
You may also want to combine products such as boiler services, so you only have one monthly bill for all services. Check what each supplier can offer you before signing a new contract.
2. How Long You Require Fixed Rates
A standard business electricity contract will usually have fixed prices for one year, but some companies offer products at secure rates 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 business electricity contract. Some suppliers offer variable-priced contracts for larger consumers of energy with half-hourly meters.
3. If You are a Multi-Site Business
As your usage increases, your unit price reduces. The same should occur for multi-site quotes which involve grouping all your sites so that you can leverage your buying power and negotiate a packaged deal. Only the larger suppliers can likely offer multi-site discounts.
How Do I Choose The Best Electricity Supplier For My Business?
Before you make the switch, ask yourself a few questions about the electricity supplier you’re considering switching to, such as:
Does the electricity supplier save you money when considering other charges?
There’s more to a business electricity contract than the headline unit rate. Ask yourself if your contract will save you money over the duration of your contract for the electricity you use.
Does the electricity supplier save you money when considering how your business uses electricity?
Each business has a different usage pattern, so not all tariffs benefit all businesses the same. If your business uses most of its energy at night, it might be worth signing up to a multi-rate tariff. If you trade during daylight hours, a single rate tariff is the best for you. If your business samanages any empty properties, then it’s better to pay attention to finding a low daily standing charge (or a zero standing charge tariff if available) than it is to look at the unit rate. For businesses with multiple meters across multiple locations, then a multi-site tariff is the way to go.
Does the electricity supplier have good reviews and a strong track record?
Finally, you need to be able to sign with a business electricity supplier you can trust, so before switching, take some time and research the supplier’s track record. Look at online reviews to make sure you’re choosing an electricity supplier that will assist you.
If your main concern is saving on your monthly bill, then pick the supplier with the cheapest rate. If you want to be sure that you’ll get great service, then it’s well worth choosing a trusted business electricity supplier.
What Types Of Contracts Do Business Electricity Suppliers Offer?
Some tariffs are suited for different business uses, so it's worth considering which of these will meet your needs best.
If you agree to the wrong tariff type with a supplier, you could end up overpaying for your business electricity. You'll then need to wait for your renewal period to open, or pay a cancellation fee, to move to a better tariff.
Below we go into some more details about the different tariff types that business electricity suppliers will offer customers.
-
Fixed-Rate Tariffs
Fixed-rate tariffs offer a fixed unit rate for a set period of time, usually between one and five years. These offer predictable billing, regardless of wholesale electricity prices.
-
Variable-Rate Tariffs
Variable rate tariffs offer flexibility, in that your unit rate goes up or down according to the wholesale price of electricity or gas and as a result your bill may go up or down too. You can save on your bills when wholesale prices are low, but you risk being charged high prices when wholesale prices rise.
-
Extended Tariffs
Extended tariffs are fixed-rate tariffs a supplier will offer you to renew a contract with them. There may be cheaper deals with other suppliers though, so be sure to compare business electricity prices before agreeing to an extended tariff.
-
Renewable Tariffs
Electricity suppliers offering renewable tariffs offer their customers electricity a low, or zero, carbon footprint for not a lot of difference in unit price. These tariffs are a great fit for business that are keen to reduce their environmental impact.
-
Rollover Tariff
Suppliers will place businesses on a rollover tariff if a new business electricity deal has not been agreed. This is a legal contract for one year and the unit rate can be more expensive than previously paid.
-
Deemed Rate Tariffs
Suppliers place businesses that are new to a premises and have not agreed a deal on a deemed rate. Deemed rates are only used when a property has never had a business electricity contract, and these rates are among the most expensive.
-
Flexible Tariffs
Electricity suppliers that offer flexible tariffs offer these rates to large businesses. Flexible tariffs allow high usage businesses to purchase their electricity in bulk at the beginning of the contract thus taking advantage of cheap wholesale prices.
Our Simple Business Electricity Supplier Comparison Service
We aim to make the process of comparing electricity suppliers as simple as possible. With our 3-step process, you can find the latest deals to keep your bills as low as possible.
Step 1: Compare the latest prices
As soon as you receive your renewal offer letter from your business electricity supplier, you can start to compare new quotes from the energy market. Our energy comparison service gives you access to a wide range of tariffs from our trusted panel of suppliers.
Step 2: Select your business electricity tariff
All that’s left for you to do is select the right business electricity tariff for you. Our expert team can offer advice on the right tariff type for your business and energy usage.
Step 3: We complete your switch
Our expert team will handle the entire switching process on your behalf, including dealing with your new and old suppliers to arrange your changeover date. There will be no interruption to your business electricity supply, and you can continue to use gas and electricity as normal.
Types of Electricity Suppliers
Commercial vs. Domestic Suppliers
Both the rate structure and contract lengths differ for commercial organisations versus domestic users. Businesses all pay VAT at 20%, whereas residential users pay 5%. Companies also pay the Climate Change Levy (CCL).
The majority of contracts are fixed-term plans for between one and five years, although you may be eligible for a flexible or variable-priced plan. Once signed, it’s unlikely you can cancel before the agreement's end date, although in some cases you may terminate your contract with some financial penalties.
Commercial Electricity Suppliers for Large Businesses
Only a handful of providers supply business electricity for those corporations 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. If you have a half-hourly meter or meters categorised under the P272 regulations, then check the contract types available to you.
The tender process of getting prices is also more time-consuming as each business electricity supplier produces unique and bespoke business electricity 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.
Small Business Electricity Suppliers
If you run a small business or micro business, controlling energy costs and reducing your overheads is vital.
Several business electricity and business gas providers only supply SMEs. They cater their services to offer you the best possible prices. For example, British Gas Lite offers a service to SMEs entirely online in an attempt to keep costs down.
It’s worth bearing in mind that the rules surrounding business electricity renewals are slightly different for small businesses. If you run a micro business, your supplier is required to provide you with a renewal letter detailing your current prices, your renewal prices and your current energy consumption.
You will find that the renewal prices offered are often much higher than negotiated rates. Micro businesses that fail to renegotiate their contract or switch suppliers could face rates 50% higher than those on negotiated terms.
Below are the best electricity suppliers that cater to small businesses:
- Good Energy & Shell Energy - Best-rated supplier overall
- EDF Energy - Best-rated ‘Traditional’ supplier
- Opus Energy - Best-rated Business-only supplier
- Valda Energy - Cheapest unit rate
- Valda Energy - Cheapest annual cost
- SmartestEnergy - Cheapest standing charge
- E.ON Next - Best online experience
To find out how much you could save by switching business electricity suppliers, compare the latest energy tariffs.
Who Are The Best Rated Business Electricity Suppliers?
Many are aware of the dominant reign the ‘Big Six’ had in the UK for many years. Whilst the majority of the originally largest electricity suppliers in the UK still hold a large market share; there have been a few new suppliers gaining momentum.
Here are the UK’s largest electricity suppliers:
| Supplier | Trustpilot Rating | Unit Price (p/per kWh) | Great For |
|---|---|---|---|
 |
4.0 (Great) | 28.7p | Large Businesses |
 |
N/A | Compare | Custom tariffs for large businesses |
 |
4.3 (Excellent) | Compare | Renewable electricity & SSE specialises in business electricity |
 |
4.3 (Excellent) | 21.9p | Award-winning mobile app |
 |
4.3 (Excellent) | 25.5p | Smart meters and EV solutions |
 |
4.2 (Great) | Compare |
Renewable tariffs as standard |
 |
3.8 (Great) | 24.6p | Small business specialist & online account management |
 |
2.0 (Poor) | 28.1p | Online-only small business electricity supplier |
 |
4.7 (Excellent) | Compare | Renewable as standard and focused on large businesses |
 |
4.0 (Great) | 24.4p | Renewable as standard and small business specialist |
 |
4.5 (Excellent) | 23p | Great customer reviews and small business specialist |
 |
4.3 (Excellent) | Compare | Tech-led electricity data for large businesses |
 |
4.7 (Excellent) | Compare | Large businesses focused on sustainability |
 |
4.1 (Great) | Compare | Renewable as standard |
 |
4.2 (Great) | Compare |
Renewable fuel mix: Offshore wind (56.89%), Onshore wind (26.33%), Solar (15.46%), Hydro (1.32%) |
Pulling from rates displayed on our business electricity page, we can review the cheapest suppliers for March 2024. It’s important to remember that these prices are an example based on the consumption of an annual 25,000 kWh of electricity. Regional factors and as wholesale prices change regularly, it is better to start your electricity comparison.
Business Electricity Supplier Comparison FAQs
-
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 commercial electricity 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 electricity provider.
-
How Much Could My Business Save By Switching Suppliers?
Savings will depend on factors such as your business’ size, the number of staff, and how efficiently it is run. The more efficient your business is, the more savings you could make.
If you haven’t switched electricity suppliers or renegotiated your contract rates for a while, it is highly likely that you’ll make savings by switching.
-
How Long Could It Take To Switch Suppliers?
Typically, it can take around four to six weeks to complete a business gas or electricity supplier switch. Ensure that you provide your new supplier with all the details they need as failing to do so could cause a delay.
-
Could I Leave My Business Electricity Contract Early?
Fees to terminate an ongoing contract early are usually high, so if you must do this you should ensure that the savings from your prospective new contract compensate for the early exit fees.
-
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 tariffs until you renew your agreement.
-
Should I Get A Dual Fuel Tariff?
You could save money by combining your business gas and electricity contract, but it varies depending on your location. It’s best to get quotes for both single fuels and a combined tariff then compare the total price of both options.
-
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?
Your latest invoices or bills should show all the meters associated with your company locations. You can also find these on the physical meter. Alternatively, a broker can match your address and postcode and locate them.
Switch Business Electricity Suppliers
See the best business electricity deals currently available!