Finding cheap business energy quotes can be a challenge. Even once you have found what is seemingly a great deal, things can get quite confusing with unit price, standing charges and confusing industry jargon.
Comparing business energy prices is often the best way to find the best deals on gas and electricity. You can get started now with by filling in a few details in the form above. Our comparison engine will show prices from a variety of business energy suppliers to help you gain more control of your energy bills.
To get the most accurate business energy quotes, you may need a few things to hand; including recent business energy bills so you know what your exact energy consumption levels are.
Below we’ve listed 10 tips that’ll help you get the most out of business energy quotes:
1. Know Your Current Tariff
Many companies are not aware of their current business electricity tariff or even what business gas rates they pay. This is simply because it is often very low on the priority list. However, managing gas and electricity more closely can free up a significant amount of money that can invested back into the business.
Before comparing business energy prices, it is very useful to know who your energy suppliers are and what tariffs you’re on. This will help you accurately compare business energy with no surprise further down the line.
In most cases, you will only get energy quotes every few years and then tend to forget about it. However, without knowing your current rates it will be impossible to compare business energy prices.
Tip #1: You can get started now by comparing prices for business electricity and business gas above.
2. Know When Your Current Contract Is Up
The UK’s business energy suppliers are not the best at informing you when your current contract is up for renewal. They may also make it quite difficult and when you can cancel it and switch suppliers.
Some business energy suppliers require a termination notice in writing up to 90 days before the end of the contract date. This will stop the energy supplier automatically moving the business onto an expensive out of contract tariff.
Tip #2: Once you know this date, and the requirements to switch companies, you’ll be in a much better position to start looking at quotes. You can add a calendar reminder, so you know when to compare business energy prices.
3. Understand contract terms and length
To get the best business energy quote, you’ll also have to decide how long you want your new contract to last. Standard contracts are usually 1-3 years, although some suppliers will go for contracts that last up to 5 years. Deciding the best contract length for your company comes down to current wholesale market prices. If gas and electricity prices are quite high, you may want to select shorter contract business energy tariffs so you can renew at a lower rate.
However, some business energy suppliers may offer better discounts on gas and electricity tariffs that are fixed for a longer period of time. So it is better to compare business energy and review your options before committing to a contract. You should also be aware that there may be fees and penalties if you try to cancel your contract early.
Tip #3: For new businesses, it’s highly advisable that you get shorter term contracts to start as you’ll have a much better idea about your energy usage and how your business is performing financially.
4. Research Suppliers
Business energy suppliers offer varying levels of customer service. It goes without saying you should research a business energy supplier before committing to a long contract.
When getting your business energy quotes, you’ll almost certainly get prices from the Big Six energy suppliers. However, if you limit yourself to just them, you may be preventing yourself from getting the best deal. You should consider some smaller independent energy suppliers as they may offer superior customer service at a better price.
Some independent energy suppliers set themselves apart with green business energy at the same prices as other tariffs offered by the larger suppliers. Choosing a more sustainable energy supplier can be your companies first steps to becoming more environmentally friendly.
The UK now has many smaller business energy suppliers, offering competitive rates, or renewable energy only contracts that may better align with your needs.
Tip #4: By getting a quote using the form above we’ll help compare many of these suppliers. And to get a better idea of all the suppliers out there have a look at our list.
5. Read Supplier Reviews
If after getting a few quotes you find an energy supplier offering cheaper rates, your work is not necessarily done. Before buying business energy it’s always a good idea to read online reviews and know what the customer experience is going to be like.
It can be difficult to determine which reviews are domestic or related to business energy tariffs. However, you can gauge the level of service offered by energy suppliers from looking at the full picture and it may be a good idea to ask around your network to see who other companies are with.
Tip #5: There’s no point going with the cheapest company, if you know you’re going to have a difficult time cancelling or switching your contract when it’s up for renewal. Choose a business energy supplier you’re confident with.
6. Know your business electricity profile class
When getting business electricity quotes it’s important to know your business profile class, which based on your usage and Peak Load Factor. New and renewing customers in profile class 05-08 are now required to use half hourly metering. You may need to acquire more custom quote option for your business energy tariffs.
Tip #6: Knowing your business profile class will ensure you’re on the right tariff for your business type.
7. Know your current consumption pattern and usage
If you want to get the best prices for electricity and gas you need to understand when your energy usage is highest. A small office where people work 9-5 and an after-work pub will each have different consumption profiles.
Tip #7: Past bills are a very useful tool to helping you understand your consumption patterns and when you want the lowest rates.
8. Know your Business Gas & Electricity Supply Numbers
For business gas customers this is referred to as your Meter Point Reference Number (MPR). You can find it on your last gas bill and is a string of up to 10 numbers (and no letters).
For business electricity customers this is referred to as a Metering Point Administration Number (MPAN). It’s the number found inside the 7 boxes next to the big S on your bill (see below).
The reason why both of these are important, is that most business energy suppliers will want to check that these are in good standing and so that they confirm all the details you provide are accurate.
These numbers are crucial in providing an accurate energy comparison. Without them, issues may arise when you switch your business energy due to delays and inaccurate information.
Tip #8: Having these numbers handy will speed up your quote and result in more accurate pricing estimates.
9. Make sure your credit is in good standing
A good credit record allows you to receive the best business energy prices. Understandably, business energy suppliers want to feel confident that your company will fulfil its end of contract and pay its bills in full and on time. Therefore, they may perform a business credit check before offering you their absolute best rates.
Spending time improving your companies credit rating will get you a better deal for your business and give you access to better gas and electricity rates.
Tip #9: Knowing your business credit rating in advance can help you avoid any unexpected surprises.
10. Consider How You’ll Pay
However, even if you don’t have the best credit, you can still save some money depending on how you pay your energy bills. For example, some business energy suppliers will take up to 7% off your bills for paying by direct debit. This method of payment assures business energy suppliers that bills will be paid on time.
Tip #10: When getting a quote be sure to ask about any deals based on how your business pays its bills.
11. Get lots of Quotes
Finally, if you want to be sure of getting the best deal on business electricity and gas, you need to get a lot of quotes. Using a comparison site to compare business energy suppliers is the quickest way to review a large selection of gas and electricity rates.
We work with many of the leading UK suppliers and can help get you started to lower business energy rates. Getting a great deal for your business energy is only a few clicks away.
Tip #11: Fill in the form at the top of this page to start your business energy quote.
Business Energy Quotes FAQs
When is the best time to switch business energy suppliers?
It is often seen as better to switch energy supplier during the warmer months due to cheaper wholesale prices. However, as energy suppliers purchase gas and electricity in advance, there’s no one best time of the year to switch business energy.
If you haven’t switched your business energy supplier for a few years, or if you’ve never switched at all, you are likely to have been ‘rolled over’ to a more expensive tariff.
You should start to compare business energy when your renewal window opens. This can be as early as 12 months before your business energy contract end.
How are business energy quotes calculated?
A business energy supplier will consider several things when calculated your business energy prices. They will consider:
- The current cost of your business energy bills
- Your business location and the size of the premises
- Your current energy supplier
- Your meter type (Half hourly meter, Economy 7 meter etc).
Who is the cheapest business energy supplier?
Business energy prices fluctuate constantly. Energy suppliers are always in competition to offer the most competitive rates. The best way to reduce business energy bills is by regularly conducting an energy comparison search and see which supplier is offering the best energy tariffs. You can then make an informed decision before you switch your business energy.