To reduce your expenses, It is essential to review your energy provider for your Business regularly. We’ve compiled a list of the best. Given the increasing price of Energy, many business owners are contemplating how they can keep it all running smoothly.
A report published by SME Insights Report discovered that the increasing cost of Energy and fuel is among the most significant dangers to SME survival by 2022, with some even seeing their expenses increase by more than 1,000 per cent.
This is the perfect time to improve your Business’s processes – in this case, look into your company’s energy provider and recoup some of the cash.
The average small Business uses 22,500 kWh a month for gas, and 32,500 kWh of electricity per month based on per annum energy use, according to BritishBusinessEnergy.co.uk. Further details on that are below.
Prices can be highly individualized in the market for business energy. Service providers can provide the price to get an idea of your electricity costs. This depends on your address and your typical consumption; however, companies may want to know more about you and your Business.
Suppose you’ve recently relocated to a new location and still need to negotiate an energy plan. In that case, you’ve moved to an out-of-contract or deemed tariff from the previous supplier. The rates are more expensive than regular tariffs.
The cheapest alternative is to opt for an agreement with a fixed-term term. However, some prefer choosing a flexible rate that can fluctuate in price to reflect market conditions.
What should I look for in my Business’s energy provider?
Some characteristics set energy providers apart from one another; however, most of their features are similar.
Being able to offer the benefit of a smart meter and using an online portal or an app for managing your accounts are all standard attributes, so don’t get taken in by these features.
Instead, think about price, the flexibility in your pricing, and the company’s reputation and record of customer service. Many companies now offer green services, which is excellent for those who want to make green an objective for their Business.
We’ll take through the top providers for smaller firms within the UK and their services. To simplify things, we’ll stick with the fixed and variable rates.
British Gas
We don’t need to explain to our readers that British Gas is one of the largest energy providers in the UK.
They can install, repair, and maintain their commercial gas boiler and manage your drainage and plumbing. Also, there is a moving team to make changing simpler.
Tariffs
British Gas have a mix of variable and fixed-term tariffs.
A flexible energy plan means that the rate per unit remains the same for one, three, two or three years of your plan.
With a rolling rate of 30 days, the rate of your unit and the standard charge can fluctuate between a low and a high. However, you’ll need to give at least 30 calendar days’ notice before you can make any changes. This plan is only available to those who sign a new supply contract. You can, however, change to a fixed-price plan by providing 30 days’ notice and paying the total amount of your outstanding charges.
If you own a half-hour energy meter that you can use, you’ll receive a customized cost based on how you’ll use electricity and the time of your usage.
For a multi-site or multi-meter electricity contract, it is necessary not to have been a customer of British Gas and use more than 100,000 kWh in a year.
The Commercial Landlords plans are suitable for those with one property or portfolio. Select between fixed and 30-day rolling contracts. British Gas offers additional security checks.
- Rating on Trustpilot:3/5
- npower Business Solutions
You’re probably familiar with Npower. However, they also offer an offer for Business, including specially trained Business switching experts to help you transition quickly.
To make their deals more appealing, You can avail of deals and specials on Business Rewards such as vouchers for cinemas and free eye examinations.
While it’s a great option, its customer service isn’t the best, and it’s your responsibility to choose which is more important.
Tariffs
Contrary to some, Npower has various tariffs to fit various businesses.
Npower provides fixed-term contracts for up to 4 years. You can make cheques or cash payments, but they are accompanied by a surcharge of 5 cents. Direct Debit does not include a fee.
This Business Online Saver is fixed and is suitable for 12 months.
The variable tariff allows you to switch suppliers with a 30-day notice. The prices for Energy fluctuate in a downward and upward direction according to market conditions. You can pay with a cheque or cash. However, you’ll avoid the surcharge of 5pc when you pay via direct Debit.
If you create the Energy yourself – for example, by using solar panels you can sell it using the Smart Export Guarantee rate. It replaces the old Feed-In Tariff (FIT). It is necessary to be able to apply E.ON, which has eligibility requirements that they set up on their own.
- The Trustpilot score:2/5
ScottishPower
ScottishPower offers relatively standard plans and is worth a look for those who prefer your Energy backed by a more prominent name. Install Scottishpower’s ScottishPower application for Google Play and iOS to see your bills, record the readings on your meters, track your expenses and monitor your energy usage.
Tariffs
The Business Fixed Tariff is fixed for a maximum of three years.
Standard Fixed Standard Fixed plan is fixed for a maximum of one year. It also includes a 30-day termination notice period. It allows you to switch to a new model at any time, at no cost.
Since it is the nature of such deals, prices will vary based on a Standard Variable tariff. However, you can switch to a different ScottishPower product without incurring an expense to exit.
- Rating on Trustpilot:5/5
Bulb
Bulb for Business is relatively new to the market. I am having first come out in 2022.
The costs fluctuate according to market conditions, which means it could not be suitable for you if your goal is the security of a set cost. To combat this, there are no-cost increases outside the contract or penalties to leave.
The energy options are more flexible as you can select the Energy you need from renewable sources or non-renewable ones. Greener energy is the main driving factor for Bulb. Every time a new member joins, PS2 goes to the Bulb Foundation. This fund is used to provide grants to social enterprises and charities that tackle environmental issues.
Tariffs
Another important reason behind Bulb is to keep things simple, which is why Bulb operates on the same ‘VariFair’ tariff system. The Bulb team has calculated that you’ll pay PS2161 for one site using a standard one-rate meter within the East Midlands region. It’s based on a business using 16,000 kWh per year and paying direct Debit using online billing beginning on August 1, 2019.
- The current charges for electricity and gas are 27.40p per day.
- Rating on Trustpilot:3/5
Utility Warehouse
In the case of Utility Warehouse, prices are always lower than the ‘fair price’, which Ofgem sets. Utility Warehouse also installs and repairs boilers.
You’ll also enjoy spending rewards. Earn up to 7 per cent cashback when you use the UW Visa card at Sainsbury’s, M&S, B&Q, Halfords and many more. Cashback earned is directly from your energy bills.
Tariffs
UW doesn’t offer any particular tariffs, but they do say that it’s simpler to negotiate your energy bill by phone. Suppose you are a gold member (you join 4 or more energy providers). In that case, you will receive an amount of PS200 to cover the termination costs from your previous provider and an additional 10pc discount following one year of service with the firm.
- Rating on Trustpilot:2/5
Yu
If you’re a micro company that consumes up to 50k kWh, you’ll instantly be offered a quote online. You could reduce your costs by using two or more utility services.
Anyone seeking to be more environmentally conscious will be pleased to learn that Yu has been covered with Renewable Energy Guarantees of Origin (REGO) certificates.
Tariffs
- The energy company’s fully fixed plans are designed to cover single and multiple sites.
- It is possible to use an option to pay in advance if you are on a budget.
- For 100% green energy, opt for Pure Green Electricity Plan. Pure Green Electricity Plan.
- Rating on Trustpilot:9/5
Octopus Energy
Octopus provides 100 per cent green energy. Friends of the Earth accept it.
They also are a firm believer in fairness and quality customer service. The difference between their standard and fixed energy prices is less than 1pc. You aren’t penalized with charges for leaving if you choose to quit. Additionally, they respond to the calls of customers within 2 minutes.
Tariffs
- You can choose from three standard tariffs as well as three tariffs that are special here.
- Octopusfixed can reduce your energy costs for the entire year.
- Flexible octopus guarantees no fixed-term contract, exit fees or reasonable pricing that adapts to the market.
- greenestOctopus is the greenest option that can be used with dual fuel. It’s similar to Octopusfixed, with carbon offset.
- The three additional options are designed to help companies become more environmentally conscious.
- Electric Juice is for electric charging companies.
- Local Energy Tariffs link local businesses to renewable Energy generated locally. It’s all local.
- Vertical Power tariffs are 100pc green electricity rates for vertical farms.
- Rating on Trustpilot:8/5
So Energy
And, So Energy gives customers 100 per cent renewable electricity. You can choose the source of your Energy sourced – wind, solar, biomass hydroelectric, or Tidal. With an online login, you can send the reading of your meter, monitor your energy consumption, or download your bills through your account online. They ensure that the fixed energy rate is at the lowest price of 10pc in the UK, based on a moderate user.
If you recommend someone else for So Energy, you’ll both receive PS40 when they decide to switch by using your referral link.
Tariffs
- So Energy offers a fixed rate that can be accessed at the moment – visit the website to request a price.
- The Trustpilot score: 4.2/5
Comparisons of business energy suppliers
Our suppliers’ reviews should provide a solid starting point when choosing the most competitive rate, rates and services that will meet your requirements. Be aware that even if the tariff is fixed, the cost of your business energy may still be highly variable. If you are looking for the most competitive deal, make sure you find quotes specific to your business needs.
There is more than one supplier that we would recommend. It is important to compare by obtaining various estimates from different energy providers and then go from there, keeping particular considerations such as your location and usage patterns.
