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Business Electricity Price Comparison

Electricity pricing options for business usersLuckily for business owners, the retail market for electricity is extremely competitive.

PowerExperts EnergyMax™ can quickly negotiate competitive prices for your business that could provide substantial savings on your current renewal letter.

Through our extensive relationships with the utility companies, we have access to exclusive market leading deals that no other energy broker can offer.

Our brokers have negotiated long-term tariff reductions that we pass on to you. Lock in the security of a long-term tariff of up to five years that guarantees your rates for the duration of your tariff.

To assist your short journey, we've put together this extensive guide to help you switch to cheaper electricity prices.

Use the links above to go straight to a specific section, or browse the page below.

To start right now, call our UK based customer services team on 0844 472 1567 who'll find you the lowest rates from the best UK suppliers in a matter of minutes.

Choosing the right business electricity tariff

Use our expert EnergyMax™ technologies to find the lowest electricity prices for your business.

Obtaining business electricity quotes

Existing customers can obtain pricing quotes at any time during their contract. However, you can only switch once you've terminated your current agreement.

Once termination occurs, you can switch providers and avoid costly rollover contracts. Ensure you switch in time otherwise you'll incur expensive "out of contract" rates.

For the majority of small businesses, choosing the cheapest price is the most favoured route. It's unlikely you'll receive any additional benefits from a more expensive contract. Larger businesses could benefit from additional services, such as energy efficiency, management software, and flexible procurement options. For those companies, choosing the correct supplier is vital to manage your cost base effectively.

Fix your rates for one to three years

All contracts operate on fixed rates for a fixed duration. SMEs can choose between one, two and three-year deals with a 6% premium for each additional year. Some energy companies now provide market prices to fix your contract for up to five years.

Extending your contract to a three-year term protects you against future increases in wholesale prices over the entire duration of your agreement. You save even more when paying by Direct Debit. Most energy companies reduce your bill by 4% with British Gas discounting it by 6%.

How can you ensure your invoice is accurate?

Many companies and individuals complain their bills are inaccurate because of estimated meter readings. All buildings with half hourly meters are exempt from these issues as their meter is automatically read every 30 minutes and billed directly. Investing in invoice validation software can automatically check your invoices are accurate from both a consumption and contract viewpoint.

For the majority who don't have half hourly electricity, there are steps you can take to ensure bills are always accurate.

Check your bills

Standard electricity bills are fairly straightforward to understand. Your invoice reflects your consumption of energy in kilowatt-hours (kWh) and is read directly from your meters between two dates. The example below shows a previous meter reading of 40,288 and the current reading of 45,081 providing consumption of 4,793 kWh.

Meter readings for electric consumption

The consumption is multiplied by the unit rate (in this case 11.49p) to calculate the total charge. How many kilowatt-hours used is based on the appliances and electrical devices you have at your premises. Light bulbs use about 81 kWh per year while a computer uses 504 kWh per year.

Example of an electricity invoice

Provide meter readings in your account

Accurate meter readings and account management provide the most accurate invoices. High consumption buildings have their meters automatically read. The majority of companies have physical readings undertaken by a qualified representative of the energy provider. It's vital you read your own meters and enter the data into your online account as shown below.

Entering meter readings online

Your online account shows historical readings to help manage your consumption over time. Direct Debit payments are automatically adjusted based on your consumption data.

How to compare electricity prices and reduce your bills

How can I check the whole market?

Sometimes it's not all about getting the lowest prices. You may require management software, UK customer services, online account management, itemised billing, or accurate invoices. All suppliers we deal with have UK based customer services and allow you to enter meter readings online. They also provide excellent energy efficiency information to help cut usage and consumption.

Business electricity quote screen

Enter your details into our quoting system for the latest electricity prices.

What steps are required to switch contracts?

Switching to a new supplier, or even just to a new contract, is easy. Once you've chosen your new tariff, your selected provider completes all the paperwork for you. During this process, there is no loss or interruption of the supply of your energy. Once switched, your new contract terms take effect from your next invoice.

  • Step 1: Find your recent invoices to confirm your spend and consumption data.
  • Step 2: Know when your current contract expires to have adequate time to terminate the agreement.
  • Step 3: Use a comparison service or broker to locate the current deals matched to your meter.
  • Step 4: Select your new supplier and contract terms.
  • Step 5: Switch to your new electricity supplier when your existing deal expires.

Download this handy spreadsheet to manage your electricity switch yourself to ensure you obtain the best deal for your business.

The energy companies handle the electricity switching process from one supplier to another. You just need to inform both of your intentions to move and sign any contracts to formalise the process.

Do prices differ during the year?

The wholesale market for UK electricity fluctuates on a daily basis depending on the demand of the National Grid. A quote today may not be at the same price next week. Seasonal demand also increases or reduces supply and rates. By using our specialist knowledge, you can gain access to live market pricing data and the optimum time to bid for your contracts.

What are typical prices in the market?

You may be offered very low rates by some brokers, although larger users usually receive the cheapest tariffs. For SMEs, unit prices are, on average, 9.5p/kWh with a standing charge of 25p/day. All businesses pay VAT at 20% on their energy bills (against residential customers who pay 5% VAT).

For SMEs with 03 or 04 type meters, we have achieved the following recent prices. For comparative purposes, we've also shown prices for larger companies.

Profile Usage Unit Price Standing Charge
Micro business 3,000 kWh 15.5p/kWh 28.2p/day
Small business 8,000 kWh 13.76p/kWh 27.6p/day
Medium business 16,500 kWh 12.20p/kWh 25.6p/day
Large business 30,600 kWh 11.50p/kWh 24p/day

For our last 20 customer quotes the average unit price was 9.39p per kWh with a daily standing charge of 22.59p. The average annual bill is £1,476 plus VAT. A recent customer on a 04 type meter with an annual consumption of 25,000 kWh per year got 6.74p/kWh with a daily standing charge of 23.34p which is one of the lowest contract rates we've seen this year. All calculations exclude VAT and Climate Change Levy.