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18 Sep

All You Need to Know about Commercial Electricity Rates

by Simon Thompson
 

All businesses should be looking to reduce their energy costs and commercial electricity rates vary so much between suppliers that making real savings is achievable.

Indeed, nearly every company and organisation needs electricity for their everyday needs but it is possible to source a new cheaper electricity supplier easily.

However, it’s important to appreciate that your electric bill consists of two charges; there’s the cost per unit (kWh) and there’s a standing charge.

Both of these items need to be appreciated because a potential new supplier may have a low cost per unit but have a higher standing charge so you effectively don’t make any savings.

Looking for a commercial electricity quote

This is why, if you are looking for a commercial electricity quote, you will need to run a comparison of the potential business energy costs between suppliers.

The one downside to running a comparison is that you are likely to opt for a deal with a cheap unit rate and standing charge – but that’s not always the way to assess potential business energy costs.

You may find that the extras that a potential supplier may offer will be a more attractive package but may not necessarily be the cheapest one.

For instance, it may be easier to manage your account online and they may offer a personal account manager who may help with energy advice for your everyday business activities.

Comparing electric prices

When it comes to comparing electric prices, a new supplier will deliver a business energy quote that has two prices: one is for the unit rate and the other is the standing charge.

It should also be appreciated that suppliers will offer a bespoke quote so it’s difficult to compare them on a like-for-like basis plus no two businesses are going to the same.

That’s why it is important to find out what the market average is and while energy prices fluctuate, the online comparison websites do give a fair indication of what suppliers are charging.

This is also the point to highlight that by switching energy suppliers you will probably save a substantial amount of money and even a micro business will enjoy big savings, potentially hundreds of pounds every year.

Essentially, a lot depends on the size of business, how many employees it has and what their daily activities consist of but a potential supplier will take all of these needs into account.

 

If you would like to know more about how commercial electricity rates are calculated and how your business can benefit by switching energy suppliers, then speak with the experts at D-Energi.

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