Electricity Price Comparison for Business Users
Luckily for business owners the retail market for electricity is extremely competitive. PowerExperts EnergyMax™ can quickly negotiate competitive prices for your business and which could provide substantial savings on your current renewal letter.
Get an online electricity quote for your premises
Through our extensive relationships with the utility companies we have access to exclusive market leading deals. Our brokers have negotiated long term tariff reductions which we are able to pass onto you.
1) Obtain Today's Latest Prices
Current pricing information can be obtained at any time during your contract. However, you can only switch once you have terminated your current agreement (information here).
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.
2) Fixed Your Rates for One to Three Years
All contracts function on a fixed rate and duration. SMEs can choose between one, two and three year fixed rate deals with a 6% premium for each additional year.
Extending your contract to a three year term protects you against future increases in wholesale prices over the entire duration of your agreement.
Many companies and individuals complain their bills are inaccurate because of estimated readings. All premises on half hourly meters are exempt from these issues as their meter is automatically read every 30 minutes. Invoice validation software also ensures consumption from the meter is reflected in your invoices. For everyone else there are steps to ensure your bills are accurate.
Check Your Bills
Standard electricity bills are fairly simple to understand. The consumption in kWh is taken between two dates and the difference is charged. The example below shows a previous meter reading of 40,288 and current reading of 45,081 providing consumption of 4,793kWh.
This is multiplied by the unit rate (in this case 11.49p) to provide the charge. How many kilowatt hours are used is based upon the appliances and electrical devices you have at your premises. Light bulbs use about 81kWh per year with a computer using 504 kWh per year.
Provide Meter Readings in Your Account
All invoices are driven from accurate meter readings. Although a physical reading may be undertaken from a qualified representative of the energy provider these are less common. It's vital you read your own meters and enter the data into your online account as shown below.
Your online account will shown previous readings to help manage your consumption. Direct debits will be automatically adjusted based on your consumption data.
How Can I Check the Whole Market?
Sometimes it's not all about getting the cheapest prices. You may require management software, UK customer services, online account management, itemised billing and 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.
To compare prices for your business either complete the online quote form or call our team on 08444 721567.
What Steps are Required to Switch Contracts?
Switching to a new supplier, or even just to a new contract, is easy. Once you have chosen your tariff your selected provider will complete all the paperwork for you. During this process there is no loss in your supply. Once switched, your new contract will be reflected in your new bill.
Do Prices Differ During The Year?
The wholesale market for UK electricity fluctuates on a daily basis depending on demand on the National Grid. A quote today may not be the same as a price next week. We have access to live market pricing information and can advise on the most favourable timing to ensure you obtain the lowest tariff prices for the next year.
Our advisors can also manage your switch. We provide a free, no-obligation service to UK businesses online and on 08444 721567, Monday to Friday, 8am to 6pm.
What are Typical Prices in the Market?
You may be offered very low rates by some brokers but the cheapest tariffs are generally reserved for larger users. 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 type meters with an average consumption of 15,000 kWh per year we have achieved the following recent prices:
- Unit price of 8.68p/kWh with a standing charge of 23.70p/ day
- 9.07p and 24.23p
- 9.25p and 23.64p
- 9.03p and 23.61p
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.