Understanding your Business Electricity Bill
One thing's for sure, energy bills are baffling! Unless you are natural with numbers and units, even the best of us can get a bit bogged down by it all and if we ar honest, many of us just look at what is due for payment and nothing else. The team here at Love Energy Savings team has put together this handy guide ot understanding your electricity bill, so you know exactly what you are paying for.
In the current energy market there are approximately 300 or so different packages on offer. So, we can be forgiven for getting a bit lost with the various different providers and all the various tariffs they offer. Luckily, Ofgem have stepped in recently to make sure that all the providers and paerticularly the Big Six, toe the line and make billing as transparent as possible. In addition to this, they also have to let you know if you could be on a cheaper deal.
In the meantime, take a look below as we have outlined all the different things you are likely to find on your energy bill. It may be worth you digging out a few of your old bills, so you can see whether or not you are paying over the odds. Remember that you can use our free energy comparison tool at any time to see if a different energy company could represent a better deal for your organisation.
What Is On My Business Energy Bill?
- Business Energy suppliers contact details.
- The date of when the electricity bill was issued.
- The billing period, (showing the dates the bill refers to).
- The date and amount of the last payment made from the customer to the supplier.
- Your unique customer business reference number or account number, which should be displayed at the top of the page.
- The final amount of the electricity you've used in this period before VAT is added.
- The standard amount of Business VAT of 20% (and not the usual 5% as it is for domestic premises) should be shown separately.
- The total price of your electricity bill (this is the amount you need to pay your supplier).
- Normally any other additional information that a supplier wishes to share or the customer will frequently appear on the front of the bill.
- Most electricity suppliers show their electricity supply number in a box however this may be in a small font so look carefully.
- Your meter point administration number, which you will need if you choose to switch electricity supplier.
- A detailed breakdown of the energy the customer has used will be shown on the bill. The usage is provided, including the kilowatt hours (kWh) used, the cost per kilowatt hour and the latest meter readings.
- The bill will also show if the electricity meter readings are estimated or actual and the dates the readings were taken or estimated.
- A contact number will be provided on the bill for customers who have specific business requirements such as large print or bills in braille.
- A payment slip will be on or with the bill for businesses who chose to pay at a bank or by post.
- The electricity bill summary should show: The client the total of your last bill, how much was paid since the last bill, the charges the client incurred for the period of time including any discounts the client is applicable for. The electricity bill will also show any account adjustments.
- The summary will also show the business customer the overall amount of debit or credit that their account is in. This will only be for information only for Direct Debit customer. The summary will also show the date the electricity bill should be paid by.