Business Electricity Rates Per kWh and Standing Charges
Electricity is essential to most companies and used in lots of different ways. If you’re running a business, you know how important it is to keep on top of your monthly costs. Finding the best deal on your business electricity is an easy way to cut your costs and save money.
To find your price, use a broker or do it yourself. You must not let your energy contract rollover when you receive your renewal letter. If you do, you’ll get a 20-30% rate rise. You may then forget to update your records and then just have those prices for years.
How much are business electricity prices per kWh?
It may not matter how much you pay if you only use a little energy each year. But, if your bill is over £1,500 per year, then you could save £500 by switching your electric contract to something cheaper. You pay a price for each unit of electricity used. The units are in kilowatt hours or kWh. This structure is standard across all suppliers.
For example, the average electricity price per kWh paid in the UK is 12.4p for all types of business. These prices range from 9.88p/ kWh for the largest to 15.48p /kWh for the smallest. Data source: BEIS. These rates do not include VAT. They also exclude government taxes such as the Climate Change Levy.
The data shows that a low volume user pays the most with high volume users the most. This difference happens in most industries. The larger companies also have access to variable prices.
What tariffs have no standing charges?
Most tariffs also include a fixed amount payable each day. Some suppliers charge per month, quarter or per year. You get this charge even if you don’t use any power. Low volume users should find a tariff that has zero standing charge. There are two companies that offer tariffs with no daily charges.
How to get the cheapest business electricity rates
Wholesale electric rates are always changing, so it can be challenging to find the best tariffs for your business. That’s where our team of energy experts come in. They have the time and the know-how to find the deal that’ll give you the best value for your company.
Not only will our dedicated team find you the best energy deal, but they’ll also complete the switching process for you. The team will help cancel your existing contract. They’ll also offer solutions to any potentially prickly objections that could arise as a result.
We don’t just look for the best price either! We also look for other features that make life that little bit easier. For example, online billing and top-notch customer service could make a difference. We’ll present you all options so you can be confident you’re getting the complete package.
And we won’t charge your business a penny, as our service is completely free of charge, but 100% impartial!
Why not start now? Let us know a few details, either by entering your details at the top of the page or by giving our experts a call on 0800 140 4672, and we’ll do the rest.
Who are the cheapest suppliers?
When you’re looking for the lowest-priced business energy supplier, you need to get separate quotes from each energy provider. This process means that your tariff will suit the specific needs of your business. But, it can make it difficult to know whether you’re on the best-priced tariff available.
Make a quick call to the energy experts at BusinessElectricity. You can instantly compare quotes from a range of suppliers to ensure you’re getting the right energy deal, at the right price.
What’s the best electricity deal for your business?
Each business has different needs. The suppliers have different types of tariffs to try and meet these demands. In general, there are five types of main contract available for businesses. These are:
Fixed-term contract – You pay a fixed cost per unit (kWh) of energy throughout your contract period. It doesn’t mean that you receive a fixed monthly bill – this can fluctuate according to how much electricity you use each month.
Variable-rate contract – Your unit rates link to market activity, meaning they can increase and decrease throughout your contract. There’s an element of risk with this tariff as prices can fall and rise during the contract window.
Deemed rate contract – This is also commonly known as an out-of-contract tariff. It’s a rolling contract with expensive rates that suppliers arrange for customers with no formally agreed contract. This type of agreement is never a good deal.
28-day contract – A contract for businesses who haven’t switched since the energy market deregulation came into effect.
Rollover contract – A rollover contract gets used when you let your existing agreement continue past your current contract’s end date. You will automatically continue for another year, and rates are usually among the supplier’s most expensive. This scenario is a place you don’t want to be due to excessive prices.
When comparing cheap electricity deals, it’s vital to find the right type of contract for your business. However, there’s no one-size-fits-all approach. While some companies are better suited to fixed-rate contracts, others prefer variable rate deals.
To find out which deal is the best fit for your business, give our energy team a call on 0800 140 4672.