Energy is a critical factor in running a successful business. But unfortunately, it is also one of the most significant expenses for most companies in the UK.
Buying energy for your business can be tricky business. Finding the best energy supplier can be daunting, especially if you haven’t done it before.
Types Of Business Energy In The Uk
Business energy is the gas and electricity supply businesses use daily.
This doesn’t just include offices but also warehouses and factories, too.
There are many different types of business energy in the UK, and it can be challenging to know which one is right for you. Here we explain the main options and what they offer.
Business Electricity
This is the most common form of energy used by businesses in the UK. It’s suitable for almost all businesses and can be delivered using various methods.
Business Gas
As well as electricity, some companies also use gas to power their equipment. Business gas comes in two forms: standard gas or premium gas.
Business Combined Heat and Power (CHP)
This system generates electricity and heat from a single fuel source, meaning your business could benefit from lower costs. One example of a CHP is the use of biomass.
Biomass
Biomass is a form of sustainable energy that has become increasingly popular among UK companies thanks to its low-carbon credentials and high flexibility level compared to other renewable sources such as solar power or wind turbines.
How To Get The Best Supplier
Knowing who best suits you and your company is hard in the competitive market.
It’s an essential investment for your company’s bottom line. However, deciding who gives you the best value for money can be challenging, as there isn’t currently any regulation in the energy market. You could even find that you are paying up to £500 per year.
So here are some of the things you can do to get the best deal on business electricity:
Compare suppliers
The first step is to compare suppliers. This will give you an idea of what types of deals are available and which will be most beneficial to your business.
If possible, try and find out their ratings from previous customers and look at any reviews they have received online.
Find out how much each supplier charges.
Once you know what types of deals are available, it’s time to work out how much each supplier charges per unit of energy consumed by your company.
This will help you decide which one is the cheapest in the long run and which one will give you the best value for money in terms of savings on your bills each month.
Choose an all-inclusive package.
One of the best things about selecting an all-inclusive package is that it means there’s no need for you or your employees to worry about switching between suppliers every time one changes its prices or offers new services.
Your chosen provider will automatically take care of everything once you’ve signed up for their all-inclusive package. This will make it much easier for you to manage your business’s energy needs and costs.
You can check Utility Bidder for more information if you need further assistance with switching.
When To Switch
The main reason for switching is that you could save money. If your current supplier charges you more than others, switching to a cheaper option makes sense.
But it would be best to consider other factors such as customer service, contract length, and environmental sustainability before making your final decision.
Here are some of the factors that might lead you to choose one over another:
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Your current deal is coming to an end.
If your contract is due to expire in the next few months, it’s worth shopping around to find out if there are better deals before committing yourself again. You can also use our free comparison tool to see how much you could save by switching.
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You’re unhappy with your current supplier.
If your supplier is not doing what they promised or has failed to deliver on their promises, it might be time to look elsewhere for a better deal. If this happens, remember that it might take up to six weeks for any switch to take effect – so don’t wait until the last minute!
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Your business is growing and needs more electricity or gas.
Determine how much electricity or gas your business will need. This will depend on various factors, including the size of your business, your hours of operation, and the type of business you run.
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Additional Tips
There are some things you need to keep in mind when switching business energy suppliers:
Your current supplier may charge you exit fees
Your current supplier may charge you exit fees if you’re still within your contract period. These can be as much as £50 per fuel, so make sure you factor this into your decision to switch.
It may take a few days or weeks for the switch to happen.
It usually takes around three weeks to go through. You will continue to get energy from your current supplier during this time.
You may need a new energy meter.
If you switch to a new business energy tariff with a different rate structure, you may need to have a new meter installed. This is usually free of charge and should be arranged by your new supplier.
Your energy supply may be interrupted.
When you switch business energy suppliers, there is a slight chance that your energy supply may be interrupted for a short time. This is usually due to technical issues and should only last a few hours.
You may have to pay a deposit.
Some business energy suppliers may require you to pay a deposit when you switch to their service. This is usually refunded after a certain period or if you have a good payment history.
Final Thoughts
Choosing the right business energy supplier is essential for any business.
Make sure you compare the prices of various suppliers and choose the right type of contract for your needs.
Remember to also read and understand the terms and conditions carefully before signing up and consider the customer service offered by each supplier.
If you’re unsatisfied with your current supplier, you can always switch to a new one – make sure you understand the process and any charges that may apply.
