15 Jul
Are Yours the Cheapest Business Electricity Prices?
Posted on Jul 15, 2019 by D-ENERGi
It may appear to be a confusing question, but is your firm enjoying the cheapest business electricity prices currently available?
If you haven’t switched providers in recent years, then the answer is likely to be ‘No’.
That’s because your supplier will have moved you to an out of contract tariff, known as deemed rates, which can be up to 20% or 30% more expensive than prices being paid by new clients.
And as all business owners will appreciate, controlling electricity costs is important to help boost profitability for a sustainable business.
Finding the cheapest business electricity rates UK
However, most energy providers will not publish a list of tariffs, so finding the cheapest business electricity rates UK can become complicated.
Also, the prices available will vary depending on the industry you work in, how many employees you have and also where you are located.
This means comparing tariffs between providers becomes more difficult but it’s not impossible.
You could contact suppliers directly and then compare their deals which will need to be bespoke for meeting your needs to find the best offering.
It’s always worthwhile calculating what a potential new deal will cost you over the course of a year to ensure you are getting a cheaper deal – you should also check for any hidden fees.
Finding the cheapest business electricity supplier
One of the issues in finding the cheapest business electricity supplier is the confusion used over some terminology.
You will need to understand that the unit rate you pay is for the amount of electricity your firm consumes, while the standing charge is the amount levied for paying the National Grid to deliver energy.
A busy business owner, you may believe you are accessing a cheap deal because the unit charge is much lower than what you currently pay without realising that the standing charge is more expensive. This means there are no savings.
It may be that your firm also wants to source a supplier who generates renewable energy to help boost your business ethos and these providers are also available.
For many firms, an effective way of sourcing the cheapest business electricity prices is to search the entire marketplace and utilise the experience and expertise of the D-Energi team to do this on their behalf and they will source the best deal available for meeting your needs.
Making one of your employees an energy champion can be a very effective way of controlling energy costs and the Carbon Trust has published a number of tips for how to make the best of such a role.
They include: Reporting energy waste they notice, such as equipment left on unnecessarily.
Ensuring equipment and machinery are well-maintained and working efficiently.
Contributing and gathering ideas for improving the way things are done.
Testing and implementing new processes.
Communicating good practice and being an ambassador for change.
It’s also vital that your energy champion has the visible support of top management and all the necessary resources they need to be effective.
According to the Carbon Trust approach, the energy champion should: Be the eyes and ears for energy wastage.
Be responsible for reading meters and checking fuel bills.
Develop a weekly or monthly checklist of duties.
Consider forming an action team to report on progress and encourage further action. A good way of identifying waste initially is to stage an energy walkabout. Because your energy usage patterns will vary throughout the day, the walkabout times should be varied to match, for example, when the cleaners are in, at lunch, and at night or over weekends.
From these walks, your energy champion can identify where energy is being wasted and the possible reasons. Is it a lack understanding, are procedures being overlooked, is repair or necessary to reduce energy costs, or there is a need for capital investment.
We’re proud business energy suppliers with a passion for supporting companies of various sizes, whether with competitive gas tariffs, electricity or 100% UK wind power. Contact our team today to learn more.
We’re proud business energy suppliers with a passion for supporting companies of various sizes, whether with competitive gas tariffs, electricity or 100% UK wind power.
Contact our team today to learn more.
Read Article Finding Cheap Business Electricity
Finding cheap business electricity can be challenging when every supplier offers such competitive rates. This is why you should make the effort to shop around and receive as many quotes as you possibly can. Although this may be a chore, it is regarding one of the main factors within your business – money.
Ofgem Recommendations
The leading regulatory body, Ofgem recommend that you shop around for electricity rates, at least every three years to ensure you are being delivered the best tariff for your business electricity needs. When we say shop around, we mean the whole market. Do your research, look into energy suppliers that you may never have heard of previously, and try to look further into suppliers that don’t fall under The Big Six.
We are only a phone call away…
If you are looking to seek consultancy with regard to your electricity, D-ENERGi can review your electricity and advise you on what is best for you and your business when it comes to electricity. Please don’t hesitate to give us a call at 0800 871 7626 to speak with one of our experienced Account Managers in-house to help you understand your electricity as opposed to developing knowledge in generic electricity rates. Every business’s electricity needs are highly unique and you should not feel as though there is only one route you can take.
Hidden costs in electricity
Something that isn’t outlined by every supplier is the fact that there are several other charges that relate to electricity supply. We like you to be involved and we want you to have a 100% understanding on just where your electricity budget money is heading.
Some electricity quotes can be referred to as a mine field quote which can be presented in many different manners and can prove to show hidden costs. We can give you a cost analysis penny-to-penny of what and where you are spending your money on your business electricity.
P272
P272 is a new regulation given by Ofgem which affects around 167,000 businesses. P272 is mandatory and affects the way all electricity suppliers settle electricity consumption for businesses within a specified energy use. This will result in sites being migrated from non-half-hourly meters (NHH) to half-hourly meters (HH), and enable suppliers to produce more accurate bills.
More information and an infographic regarding P272 can be found here. If you would like to read our blog on P272 this can also be found here.
Get competitive rates today with a free quote
If you wish to seek electricity or any energy consultancy we are here until 5.00 pm every day ready to answer any questions you may have. Please call 0800 781 7626 for further information.
You can receive a free, no-obligation quote here and start to compare electricity rates today!
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