Does my credit score affect business energy prices?
In this article, we explain how your credit score can affect business energy prices.
October 2020
Compare Business Energy Prices
Within just 30 seconds you can compare the latest business energy prices and find the cheapest quote from our panel of trusted suppliers.
We compare prices from the UK's largest business energy providers as well as leading independents. See how much you can save today!
Secure your commercial energy prices
A changing market does not mean it should be difficult to compare business energy prices.
We're here to help your business find peace of mind when it comes to managing your commercial energy supply.
Read on to learn more about:
Energy bill discount scheme
Compare business energy quotes and start saving today
Why should I switch business energy?
Expert switching tips
What business energy tariffs are available?
What are the average UK business energy prices in 2023?
2023 business energy prices by region
Am I eligible for any discounts?
Large business energy
Small business energy
Energy bill discount scheme
The Energy Bill Discount Scheme (EBDS) replaces the relief scheme that was in place for six months. The new EBDS is in place for 12 months from 1 April 2023 to 31 March 2024.
The scheme is available for all businesses regardless of sector, including charities, and public sector organisations. Eligibility criteria applies to fixed-price contracts that have been agreed on or after 1 December 2021, on all new fixed-price contracts and out-of-contract rates.
The discount will be automatically applied to your business energy bill. The difference between the EBDS and the previous scheme is that businesses will only receive the discount when wholesale contract prices exceed a certain price threshold. There will also be a maximum discount a business can receive. You do not need to apply for the scheme as any discounts will be applied by your supplier.
The maximum discount available for most businesses are:
- Electricity: £19.61 per megawatt-hour (MWh) with a price threshold of £302 per MWh
- Gas: £6.97 per MWh with a price threshold of £107 per MWh
Ready to find your next fixed-rate deal? Click here to see the latest prices.
A simple business energy comparison service
We pride ourselves on saving UK businesses money on their gas and electricity bills. Through years of experience, we've helped our customers save over £100m.
Switching business energy providers couldn't be easier. It takes just 60 seconds to find a range of great energy rates from our panel of trusted UK suppliers.
Companies all over the UK have trusted us to switch their business energy providers. Start your money-saving journey now.
Compare business energy quotes and start saving today
Our trusted panel of UK business energy providers meet our highest standards, so you can switch with confidence. You can choose your tariff from your range of business energy quotes and start the switching process today.
On average, customers using our business energy suppliers comparison engine save £1,401* on average annually. What would you do with that extra money in your business?
You'll see some familiar Big Six and some trusted challenger energy suppliers when you compare business energy rates with us, so you know you're getting a good view of the latest market prices.
Why should I switch business energy?
You’ll likely be searching for the cheapest business energy quote but other factors such as customer service and easy billing should be considered.
Business energy usage is typically more expensive than domestic, so it is important to keep a close eye on your monthly energy bills. Many business owners choose to switch commercial energy providers for peace of mind and predictability with their monthly bills.
Switching can mean:
- Protecting business energy rates against future price fluctuations
- Better customer service
- More control of your current energy contract
Decided it's time to switch? Here are some tips
Having the right information to hand when you come to switch business energy providers is essential to receiving an accurate quote. There are some other things you should be considering too. For a seamless switching process, even if you're just reviewing the latest energy rates, consider these steps:
1. Terminate your contract
Business energy price comparison online has never been easier. Once you’ve found the right tariff, you’ll need to terminate your contract. Remember that gas and electricity must be switched separately - a top tip is to deal with your commercial energy comparison all at once. Locking your contracts in for the same amount of time will save you time in the future.
If you do not terminate your contract, many commercial energy providers will place you on expensive out-of-contract rates. Providers are not always the best at sending renewal notices through (unless you're classed as a micro-business).
2. Locate meter registration numbers
When you compare business energy quotes, having your Meter Point Reference Number and Meter Point Administration Number (MPRN & MPAN) to hand will ensure you're getting accurate rates based on actual usage.
These numbers should be displayed on a recent energy bill. If you don't have these to hand, our intelligent comparison engine can often find this out for you.
3. Your company information
You'll need some basic company information so our business energy experts can find you a great deal. Switching can be completed completely online at a time that suits you, or our team are just a phone call away should you need any assistance.
We'll typically need the following information:
- Business address and postcode
- When you would like your new energy deal to start
- Energy meter numbers
- How much energy do you consume annually
Most of the information you need will be on your recent bill.
4. Switch with confidence
There's no obligation to switch business energy providers with us. We want you to find the right deal for you. If you decide to switch with us, you can sit back and relax whilst we handle the process for you.
5. Rates change every day
The energy market can be highly volatile and multiple factors can impact the price you pay for your energy usage. Here are some reasons you could be paying more or less for your commercial energy contract:
- The size of your business - larger consumption businesses pay more annually for their energy usage but will get discounted unit rates. Businesses with lower consumption will pay higher unit rates.
- Your energy tariff - there's a wide range of tariffs that have different price models - for example, Economy 7/ 10 (cheaper rates at night), no standing charge tariffs and green energy tariffs will all pay different rates. Each one has its benefits depending on how your company uses gas and electricity.
- Energy suppliers - whilst generally guided by wholesale market prices, different suppliers will have different pricing models making some more expensive than others.
- Wholesale market prices - the wholesale market is always changing, and suppliers will use this as a guideline for their pricing models. Significant world events, weather and other factors can impact the wholesale market, and the prices will be adjusted accordingly.
Compare fixed-rate tariffs
A fixed-rate tariff is one of the most popular business energy deals. On this tariff, you will agree on a fixed unit price for both gas and electricity with your supplier. You can lock an agreed price from 1 year up to 5 years. Wholesale market prices may cause business energy suppliers to only offer shorter-term deals.
Compare green energy tariffs
For those businesses who want to reduce their carbon footprint, a green tariff is an attractive tariff. Over recent years, there’s been an increase of renewable energy companies entering the market. Many commercial energy suppliers already offer green tariffs as standard, so it's worth shopping around for an energy contract that suits your business.
Compare variable rate tariffs
Variable rate tariffs can be a good option for businesses that want some flexibility. The price you pay per unit rate will change depending on current wholesale prices.
Before you compare business energy tariffs, you should understand what business energy contract you're currently on, how much energy you use annually and how much you could save if you become more energy efficient.
What are the average UK business energy prices in 2023?
A changing market makes it difficult to understand what you should be paying for your energy supply. These example rates are for business electricity tariffs on a 3-year fixed rate from a snapshot of prices on one particular day in March 2023. Prices vary by UK region.
You should compare providers today for an accurate price.
| Business size | Electricity price per kWh | Gas price per kWh |
|---|---|---|
| Micro business | 30.88p | 9.96p |
| Small business | 31.16p | 9.59p |
| Medium business | 31.42p | 9.54p |
| Large business | 30.89p | 9.34p |
| Extra large business | 30.89p | 7.32p |
Updated March 2023.
|
Region |
Usage band |
Electric unit rate |
Gas unit rate |
|---|---|---|---|
|
North Scotland
|
5,000 25,000 50,000 100,000 |
31.37p 32.49p 31.22p 30.43p |
10.01p 10.01p 10.01p 9.40p |
|
South Scotland
|
5,000 25,000 50,000 100,000 |
31.11p 32.09p 30.96p 30.15p |
10.01p 10.01p 10.01p 9.40p |
|
North East England
|
5,000 25,000 50,000 100,000 |
30.72p 31.18p 30.57p 29.72p |
9.96p 9.96p 9.96p 9.30p |
|
North West England
|
5,000 25,000 50,000 100,000 |
31.52p 32.11p 31.59p 30.82p |
10.03p 10.03p 10.03p 9.30p |
|
Yorkshire
|
5,000 25,000 50,000 100,000 |
30.95p 31.34p 30.80p 29.99p |
10.04p 10.04p 10.04p 9.40p |
|
North Wales
|
5,000 25,000 50,000 100,000 |
32.49p 33.59p 32.34p 32.56p |
10.08p 10.08p 10.08p 9.40p |
|
South Wales
|
5,000 25,000 50,000 100,000 |
31.12p 31.56p 30.97p 30.14p |
10.09p 10.09p 10.09p 9.40p |
|
West Midlands
|
5,000 25,000 50,000 100,000 |
30.89p 31.36p 30.74p 32.56p |
10.09p 10.09p 10.09p 9.40p |
|
East Midlands
|
5,000 25,000 50,000 100,000 |
30.58p 30.95p 30.80p 29.98p |
10.09p 10.09p 10.09p 9.40p |
|
South West England
|
5,000 25,000 50,000 100,000 |
30.55p 31.39p 30.40p 29.56p |
10.14p 10.14p 10.14p 9.30p |
|
South East England
|
5,000 25,000 50,000 100,000 |
30.98p 31.70p 30.83p 29.99p |
10.14p 10.14p 10.14p 9.30p |
|
Southern England
|
5,000 25,000 50,000 100,000 |
30.84p 31.49p 30.69p 29.87p |
10.14p 10.14p 10.14p 9.30p |
|
London
|
5,000 25,000 50,000 100,000 |
30.79p 31.15p 31.19p 29.91p |
10.20p 10.20p 10.20p 9.20p |
Updated March 2023.
Large business energy & high-volume consumption
If you're a large consumption organisation struggling to find a price online, our expert team can build a custom energy deal for your exact needs.
Our experts will take the time to understand your operations, challenges and requirements to help us determine the right services for our large commercial customers.
Large business energy customers will often need specialist meters known as maximum demand meters and half hourly meters.
If you're considered a large business customer by your supplier, you can head to our meter installations page.
Small business energy
Small business owners can switch their energy tariffs completely online, or for those that would like some extra guidance, we’re just a phone call away.
When it comes to business energy, suppliers may see you slightly differently and your business could fall into two different classifications. The smallest category of business is referred to as a micro business. These are companies with a maximum of 9 employees - business energy contracts for micro businesses offer much more flexibility. Any other larger businesses would be classed as small and medium-sized enterprises (SMEs).
When you compare business energy suppliers with us, we source the latest prices from a panel of trusted suppliers with tariffs specifically catered to the needs of UK small businesses.
Am I eligible for any discounts?
Charities and nonprofits are eligible for a 5% discount on their energy bills, reduced from the full rate of 20%.
You may get a discount for paying via direct debit.
What is the energy price cap?
The energy price cap is set by the regulator Ofgem. This does not apply to business customers, and it limits the maximum amount charged on domestic unit rates.
What is the Climate Change Levy (CCL)?
The Climate Change Levy is an environmental tax on all businesses that use energy. This levy encourages better energy efficiency. Any UK business can join the Climate Change Agreement Scheme to pay reduced rates.
Climate Change Levy (CCL) Rates:
| Taxable commodity | Electricity (£ per kilowatt hour (kWh) | Gas (£ per kWh) |
|---|---|---|
| Rate from 1 April 2022 | 0.00775 | 0.00568 |
| Rate from 1 April 2023 | 0.00775 | 0.00672 |
| Rate from 1 April 2024 | 0.00775 | 0.00775 |
Source: GOV.UK
An energy tariff for all businesses
Whether you’re looking for a small business energy comparison, or you require a bespoke deal for high consumption, we can help.
As a business owner, the last thing on your mind is searching endless websites for the cheapest business energy quote. This is where we step in with our market-leading comparison engine. It takes just 60 seconds to compare business energy rates and start the switching process.
Our self-service platform allows you to compare online, anytime, when it suits you. If you need something more tailored to your business, one of our experts would be more than happy to help you find a solution.
Business energy FAQs
-
Will my business energy supply be affected if I switch suppliers?
Switching business gas or electricity suppliers is a simple process, and you will not lose access to gas and electricity. When you switch energy suppliers, you're only changing who manages your supply. All the cables and pipes will remain the same.
-
What if I have multiple business premises?
You can combine your business energy onto one bill using a multi-site meter. This means you can control the gas and electricity bills on one energy contract across multiple buildings.
Multi-site meters are great for helping business owners save time and money without the hassle of switching multiple energy contracts.
-
What is the difference between domestic and business energy?
There are a few differences between a domestic and business energy contract. First of all, business energy contracts are much stricter, and the exit fees are much higher.
A business energy supplier will purchase the exact amount of gas and electricity they're expected to need for each business energy contract. As the energy consumption is much higher with businesses, the energy supplier would lose money if businesses cancelled early without paying.
It is much easier to switch domestic energy as the consumption is much lower, and contracts tend to be rolling after a fixed-rate deal has ended.
-
Do Business Energy Tariffs Offer A Dual Fuel Option?
Dual fuel tariffs are for domestic customers only. Businesses must switch their gas and electricity separately.
Businesses can have the same supplier for both fuels, but they must be switched separately. You may be able to negotiate a better energy deal with the supplier if you decide to have a contract for both gas & electricity.
Still not sure about switching your business energy?
Join over 400,000 happy customers who saved on their business energy bills
Helpful guides on business energy
-
Read more
-
What happens when my Business Energy contract rolls over?
Read moreBusinesses get caught out rolling over to a new energy contract automatically when existing contracts end. Learn how to avoid paying more for your energy.
February 2021
-
Energy Bill Support For Businesses To Be Reduced From April 2023
Read moreThe Energy Bills Discount Scheme (EBDS) is applied directly to wholesale unit prices.
January 2023