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How to find the cheapest business electricity rates

There are so many variables and factors to consider to ensure your get the best electricity and gas rates for your business including unit price, annual consumption, meter type, industry you operate in, and the T&C’s that confirm what is fixed and what is not.

We have compiled a simple list of considerations below to help you navigate through and support you in finding the best deal for your business.

Timing 

Energy market conditions change, with many external economic factors affecting prices. Government taxes and levies are also a big driver to price changes – being aware of the factors that affect prices, and timing your renewal to a dip in the market can help secure a saving. With the ability to sign renewals up to 18 months in advance of your contract end date, this is the best way to save money.

Going Green

 Whether it is hit the company’s carbon reduction targets or a personal goal, there are a growing number of 100% renewable tariffs. These have traditionally been more expensive, but this has changed over recent months (given how much renewable energy we now generate in the UK.)

Fixed or Pass through?

 Fixed tariffs often appear more expensive but they are fixed, thus cannot be rising or falling during the contract term; pass though or variable deals appear cheaper but are prone to price shifts; you also need to consider drivers to cost changes – commodity prices only account for around 1/3 of your unit price.  

Multi-site options

 If you are running more than one site, you are able to negotiate a multi-site tariff, which is an effective way to save money. 

Flexibility

 Being flexible when it comes to your energy provider provides more options and ultimately better price savings available to you. 

Haggling 

While it can be uncomfortable and unnatural for some, the art of negotiation will allow to get the very best rates and tariffs. With a large business energy contract, you hold a lot of power so you can use this to your advantage to negotiate a fair price.