Regardless of the volume of energy your business uses, you must seek out the best prices available to you. Many elements affect your pricing, including the length of your contract and the location of your business.
To help you make the best choice, we recommend using a commercial energy price comparison site such as ours. Such sites quickly conduct a thorough market review and identify the very best deals that match your specific needs.
Comparing rates per kWh and standing charges
In most cases, an energy contract consists of two parts. A price per unit in kilowatt hours (kWh) and a standing charge. The average kWh price is 14.0p and the daily standing charge 30p. No matter how much energy you use, you still pay the daily charge. That means before you start, you pay £110 per year plus VAT.
If you use a low amount of electric power, you need a contract with zero standing charges. There are at least two companies that provide such contracts. But be aware the price per kWh may be higher. If your usage increases, you should probably switch to another type of contract.
The wholesale price rises and falls in line with the demand for energy. In the winter, rates rise quite sharply while in the summer they fall. As well as waiting for the right time to strike a deal, you could ask for a contract extension. This way, you can take advantage of lower prices when they occur.
Compare business electricity
If you are looking to compare electricity tariffs, the easiest way is to use a specialist price comparison site. If you’ve never moved energy supplier or have a standard-rate contract, then you’re likely to be on an expensive rollover contract.
Comparing electricity rates enables you to see whether you’re paying too much. It also helps calculate how much your business could save if you switched suppliers.
One of the most significant factors behind how much you pay for your energy is how large your business is and its consumption. Therefore, because most companies have different energy patterns, it’s important you get a plan that fits your specific needs. Such factors include how many sites you have and total electric usage.
In the past, it was difficult to measure your energy consumption accurately. Not only did this make it impracticable to forecast costs, but it also caused problems when looking for ways to reduce energy use. This issue arose because it was almost impossible to measure how much energy a particular location was using. Half-hourly meters enable you to measure your energy use accurately. Therefore, making them ideal for businesses that use a lot of energy.
One of the most significant advantages of half-hourly meters is that they send your supplier updates every 30-minutes. Installing these meters means you receive accurate bills. For that reason, you don’t need to play a guessing game when it comes to your monthly invoices. With business electric rates becoming more expensive, such money-saving schemes can make a big difference.
Lowering your business electricity bills
There are ways you can reduce your electricity bills. These methods include changing energy suppliers to installing meters that provide accurate readings. However, the most reliable way to reduce your energy bills is to reduce your use.
Smart Meters are an effective method of achieving this goal. Not only do they accurately measure how much energy you’re using, but also give you a breakdown of your usage habits. Smart Meters, therefore, enable you to see where your energy is going. You can then make changes to your energy usage habits. Projects could include introducing energy-efficient light bulbs and power-saving office equipment.
Further energy-saving tips include ensuring staff always switch lights off at night or at the weekend. Another tip is to make sure all non-essential equipment gets switched off when not in use.
Our business energy experts can help you find the best deal for your business at the best price. Please give us a call now on 0800 140 4672.