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16 Aug

3 Things to Keep in Mind When Doing A Business Energy Comparison

by Simon Thompson
 

Business owners across the UK are becoming more aware of how easy and quick it is to switch business energy suppliers. However, here are three things to keep in mind when you are doing a business energy comparison:

There are lots of energy supplier switches going on all over the UK on a daily basis.

A recent report by Energy UK, for example, revealed that in the month of April 2021 over 650,000 customers switched their energy supplier, and around 100,000 of these were business customers.

These numbers show that more and more people are becoming aware of the cost-savings benefit of switching business energy supplier, and how easy it is to do with the help of the D-ENERGi team. The variety of deals and offers you can access by completing a business electricity comparison, for example, are really enticing people to make a change.

Are you thinking of completing a business energy comparison, to see if you could save? Then, keep these three things in mind:

#1 The market and changing energy prices

It is definitely worth paying attention to the price of electricity and gas when you are shopping around for a new business energy contract. Gas and oil prices are spiralling at the moment, and this is forcing energy suppliers to pay more, which means you then have to pay more.

You should also take into account the fuel mixes your business energy supplier uses as well, as fluctuations in government regulations and the market favouring certain energy resources will have implications on the price of your energy.

#2 Price per unit and standing charges

Sometimes people can fall into the trap of thinking that they only have to pay for the energy that they use and fail to take into account the standing charge as well.

The variable unit price per KWh on your bill is the price you pay for the energy you use, whereas the standing charge is the fixed fee that you pay to be connected to the energy grid. Both of these prices can vary from region to region throughout the UK.

#3 Know your business energy tariffs

The type of business energy tariff you choose will affect the type of business energy contract you sign with your new supplier. Fixed-rate tariffs tend to be the cheapest, for example, and they last for a fixed period of time meaning regardless of any price hikes in the market, your tariff price will stay the same.

Variable tariffs, on the other hand, change according to the market demand. This means if the market price is low, your tariff is low – however, if the market price soars, so do your tariff.

Think carefully about what type of tariff will be best for your business, and then get in touch with the team at D-ENERGi to walk you through the business electricity and business gas comparison process.