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8 Mar

How to Find Cheap Business Energy Prices

by Simon Thompson
 

It is surprisingly easy to find cheap business energy prices and for organisations they can save thousands of pounds from their costs.

Indeed, businesses both large and small will be able to make substantial savings by simply switching business energy suppliers.

The process to finding a cheaper energy supplier is simple though it may require some haggling to find the best possible deal.

Obviously, the amount of money a business can save depends on its size and energy usage.

The Competition and Markets Authority has carried out a survey and found that 40% of firms have never switched energy suppliers which means they are probably paying more than they need to.

These firms particularly could save huge amounts from their energy bills every year.

Average business energy bill being paid

The average business energy bill being paid by small business is around £4,000 on gas and £5,000 on electricity every year.

However, finding a like-for-like business energy quote is a tad difficult since energy suppliers will offer bespoke prices to a business.

In addition, should the organisation be looking for business energy gas suppliers then they will need to find a separate quote for each fuel type.

That’s because energy suppliers cannot provide dual fuel deals unlike the type we can get for our homes.

So, while there are business energy comparison websites available that will give the organisation a good idea of the potential savings to be made, the prices offered may not be the prices the firm actually gets to enjoy.

Compare cheap business electricity supplier prices

To compare cheap business electricity supplier prices, the firm will need a breakdown of their standing charges and unit rates which will help making a comparison easier.

For smaller businesses, that is those firms employing less the 10 people, they will be provided with prices being offered by competitors to help make the switchover process easier.

The idea is to increase competition within the business energy market so that firms can enjoy lower prices and better deals as a result.

Also, organisations should be wary about moving onto a rollover business energy contract since these will be more expensive, usually, than the tariffs on offer for new customers.

While it may appear to be troublesome and time-consuming to switch suppliers, finding a better business energy deal will reap its own rewards since the savings can be substantial.

This means that overheads will be lowered and profitability will be boosted as a result.

Comparison website for cheap business gas and electricity prices

So, armed with some basic information, an organisation can check a business energy comparison website for cheap business gas and electricity prices to get an idea of benchmarking for the prices available.

Once the organisation has a firm idea of what prices are being charged, they will then need to contact the supplier directly to discuss their bespoke deal.

There also needs to be at this point, however, a word of warning because if they verbally accept an offer then the contract will last for a year and there’s no ‘cooling off’ period for business energy contracts.

During discussions, organisations may also be tempted to fix into a longer-term contract in order to enjoy a fixed energy rate; with the prospect of energy prices increasing, this may be a sound business decision.

It should also be appreciated that firms cannot switch suppliers mid-term and have to wait until there’s a window of opportunity when the contract is due for renewal.

Find great business energy deals

It’s also possible to find great business energy deals by contacting energy brokers who understand the market and can access the most suitable deal for a business.

The other important aspect to remember about business energy contracts is that should the organisation not find a new supplier they may move onto a rollover contract at more expensive prices. It really will pay to put some effort into finding lower prices.

Also, with the growing popularity for people to work from home while starting a business, they may be wanting to know whether they can access lower business energy prices to help reduce their costs as well.

However, there are rules over accessing a business tariff and for those working from home will need to prove that most of their energy is being used for business purposes; ideally, they should be using at least 50% of the energy on business purposes.

If they do not meet the criteria, then for a home-based business it will pay to source lower domestic energy prices instead.

 

For those firms who would like to know how much they can save from their cheap business energy prices for the price of a phone call, then they should contact the team of helpful experts at D-Energi.

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