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Unit prices of business electricity may be cheaper than those paid by domestic users because of the amount of energy used. However, most domestic customers pay a lower rate of VAT on electricity than businesses.
Pricing is based on your business size and electricity consumption. It may be calculated on a fixed or a variable rate tariff.
A fixed business electricity price plan offers set unit prices for a defined period of time. The contract length is usually between one and three years.
A flexible or variable rate price plan means your unit rate and standing charge could go up or down, depending on the energy wholesale market.
Shopping around for business electricity could really improve your bottom line, while finding the right plan can also help with budgets and planning.
Get a quote online or speak to one of our advisers. Then compare the business electricity contract we can offer to your current deal.
To help with your comparison, it's useful to have up-to-date meter readings and to be aware of how long your current contract has left to run.
If you want to take your business electricity comparison further, get quotes from other providers then make a table that will help you consider things such as:
Online comparison sites can be a good starting point in your search for the right deal. However, an online business electricity comparison service isn't quite as straightforward as a domestic one. This is because:
An online comparison service can be helpful, but you might find that speaking to someone is easier and gets you access to a wider choice of deals.
For these reasons and others, many businesses choose to speak to a supplier or broker when arranging an electricity contract. For more information on business electricity comparison, try these independent guides from Ofgem, the government’s energy regulator.
Switching is easy, it should be completed within three weeks and your new supplier should do most of the leg work.
Find out more about how to switch business electricity on our dedicated page.
Read your terms and conditions with care, but it’s possible that you may not be able to switch contracts for a set period of time.
A contract may also impose financial penalties if you want to get out of it before a certain time, so check whether any potential savings would be cancelled out by such costs.
If you’re tied into a deal, make a note of when the lock-in period is about to come to an end and shop around for quotes at that time.
If your business spends more than £100,000 a year on electricity and gas then it’s classed as a large business.
We offer services to help with the unique needs of large businesses.
P272 is an industry term that refers to changes that are being made to certain types of electricity meters.
The changes will allow business electricity suppliers to record energy use more accurately, based on half-hourly consumption data.