Switch Business Energy Suppliers
Switching business electricity suppliers can become quite overwhelming. There are lots of suppliers on the market, with increasing numbers every year. Despite being comfortable with the Big Six suppliers, you can often find a better deal with smaller suppliers.
With many business electricity suppliers to choose from, you should take a close look at what each is offering. You can find a selection of our trusted business energy suppliers below.
Big Six Business Energy Suppliers
The Big Six Energy takes up much of the market share for supplying business electricity. Operating for many years, the Big Six have built up trust with consumers and businesses. Recently, many smaller independents have entered the market. Independents can sometimes offer more competitive prices and improved customer service.
Here are the UK’s Big Six energy suppliers:
EDF Energy is one of the largest producers of low-carbon electricity. They have a large selection of business electricity tariffs, including exclusive offers for American Express cardholders.
E.ON Energy now provides 100% renewable energy. They also offer a discount for paying by monthly direct debit of 7% discount, or 5% if you pay every quarter.
nPower is now a part of the E.ON Group. All business customers will be moved over to E.ON Next, a subsidiary of E.ON.
Scottish Power entered the Big Six after a merger with nPower and E.ON. Scottish Power allows their business customers to manage their energy online. They offer one, two and three-year business energy contracts.
SSE primarily focuses on business energy and has moved domestic customers to OVO Energy.
Independent & Green Business Energy Suppliers
Many will dismiss the business energy suppliers outside of the Big Six. However, independent suppliers can offer cheaper and better-suited tariffs. Independent energy suppliers can have less corporate barriers and adopt new technology quicker.
Whilst there are many independent business electricity suppliers, here are a select few that have great tariff options:
Octopus Energy formed in 2016 to shake up the status quo of the energy industry. Their goal is to offer customers energy that benefits the environment and their wallets. They provide 100% renewable energy with straight forward business tariffs.
Gazprom UK, established in 1993, is a global energy company specialising in geological exploration and the production, processing, and sales of gas. They offer a business energy package called Shield. This is a fully fixed-price contract for gas and electricity built for small businesses.
Opus Energy is one of the largest independents supplying energy to over 368,000 businesses. Opus provides 100% renewable energy as standard and is well known for their customer service. They answer 98% of calls within 30 seconds.
Smartest Energy focuses on providing fixed-contract options to SME businesses, with a commitment to reduce energy costs, and support their customers. They aim to provide businesses with more control over their energy usage and contribute to a more sustainable future.
How To Find And Compare The Cheapest Business Energy Suppliers
There is no one size fits all tariff when it comes to finding cheap business electricity suppliers.
The best supplier for your business depends on your consumption levels and the type of meter you have. You may also want to consider renewable energy suppliers.
If it has been more than a year since you switched business electricity supplier, you will most likely be on an expensive rollover contract.
Why Switch Business Energy Suppliers?
Many people believe switching electricity supplier is difficult. Whilst a little more complicated than switching your domestic supply, it can save your business hundreds of pounds per year. Saving money is the main reason a business might want to switch supplier, there are a few other benefits too:
- Better customer service
- Supporting Corporate Social Responsibility (CSR) efforts with renewable energy
- Have your energy managed on your behalf (through Love Energy Savings)
How To Compare Business Energy Suppliers?
There are no duel fuel tariffs available for business energy. This means that companies will have to switch their electricity and gas separately. However, this should not put you off. If you switch both at the same time with the same contract length, your renewals will be available at the same time.
To compare business electricity prices, you can use the Love Energy Savings comparison tool. Alternatively, you can also speak to a representative who can help negotiate the best prices. You will be able to track your switch online throughout the whole process.
Typically, with business electricity, suppliers offer five types of tariffs:
A fixed-term contract allows you to lock in a cost per unit (kWh) price for your electricity for the duration of your contract. However, you will still be charged in line with your electricity usage.
Your supplier will charge you in line with market activity. This means the price of your energy can increase and decrease throughout the duration of your contract. Be aware this adds an element of risk.
This is a contract for businesses who have not switched since the energy market deregulation.
A rollover contract is used by your supplier when no alternative has been agreed. These are expensive tariffs and should be avoided.
Deemed Rate Contracts
Deemed rate contracts are also commonly known as ‘out-of-contract’ tariffs. Like rollover contracts, these are rolling with expensive rates that are arranged by suppliers for customers with no formally agreed contract.
Is The Cheapest Deal The Best?
Although the price might be at the top of the agenda, sometimes taking the cheapest deal is not always the best deal. Switching to an energy supplier with a poor reputation can cost you more money and time in the long-run. You can protect your business from this by switching with Love Energy Savings.
Why Switch With Love Energy Savings?
Switching with Love Energy Savings will means you will be joining a trusted supplier with competitive business energy rates. There's no charge to your business for this service as we do get a commission directly from the energy supplier. We will manage the full switch process.
You will have an account manager that will handle everything for you. This ensures that your business will never overpay energy again.
How Much Could Your Business Save?
This depends on your business’ location, usage, and efficiency. Love Energy Savings business customers will save around £844 per year on their electricity.
Below, you can find a snapshot of the current charges of some of our trusted business electricity suppliers. These prices are not set in stone and can be cheaper when using our online comparison tool.
What Is An Independent Energy Supplier?
An independent supplier s not a member or subsidiary of The Big Six. These include British Gas, SSE, Scottish Power, EDF Energy, EON and npower.
Independent suppliers usually run smaller operations in comparison to the Big Six counterparts. Some independent suppliers offer lower prices, flexible tariffs and better customer service. The market share of independent suppliers has been steadily increasing for years and continues to rise.
Will My Electricity Supply Be Interrupted If I Switch?
We understand how detrimental this could be to your business. Your electricity supply will never be interrupted during the switch. All suppliers have the same wires and cables, it is just the management of the supply that changes.
Will I Be Charged For Switching My Business Energy Supplier?
We will not charge you comparing and switching energy suppliers. We will never take any money from you or increase your rates to make a commission. Our ethos is to save your business money and make life easier.
How Are Business Energy Plans Calculated?
When calculating business energy, the following will be considered:
- Your location
- The size of your premises
- Your current energy supplier
- Your current spend on business energy
- Your current consumption of kWh units and current standing charges
- Your meter type (standard, economy 7, maximum demand or half-hourly)
When you request a business energy quote, all these factors will be taken into consideration. This will provide you with a selection of comparisons that will give you specific information on:
- Day unit rate (kWh)
- Night unit rate
- Standing charges
- Fixed-term period (if applicable)
- Estimated annual bill
- Estimated monthly bill
What Is A Standing Charge?
When you compare business energy prices, you will notice that many plans have a ‘standing charge’ listed. A standing charge is a daily price you pay your supplier to provide energy into your business including any maintenance costs. This is often charged at a flat rate and can cost anything from 5p and 60p for electricity, or from 10p to 80p for gas.