How To Find The Best Energy Supplier for Your Business
Finding the best business energy supplier for you
When thinking about who the best energy supplier for your business is, you can often feel bombarded with a lot of information that doesn’t make much sense to you.
Energy suppliers all offer different tariffs, additional energy services and incentives for you to join their customer base, so how do you decide who is the best energy supplier for your business?
As an impartial energy supplier comparison service, we believe it is our duty to help you get informed without blowing your mind with un-relatable jargon.
UK Business Energy Supplier List
Below you can find a UK business energy supplier list that clearly states who can offer you the services that are most suited to your business’s needs.
|Energy Supplier||Fixed Tariffs||Variable Tariffs||Corporate Services||Online Account Management||Notice Period||Rating|
|British Gas||1 – 3 Years||1 – 3 Years||Yes||90 Days||3.7/5|
|Opus Energy||1 – 3 Years||Yes||Yes||60 Days||3/5|
|CNG||N/A||1 – 2 Years||90 Days||3/5|
|E.On||1 – 5 Years||1 – 3 Years||Yes||Yes||60 Days||1/5|
|Corona||1 – 3 Years||1 – 3 Years||Yes||Yes||30 Days||3/5|
|Dual Energy||1 – 3 Years||30 Days||1/5|
|Npower||1 – 3 Years||Yes||Yes||Yes||30 Days||3.6/5|
|Gazprom||1 – 5 Years||Yes||Yes||Yes||90 Days||2/5|
|Hudson Energy||1 – 3 Years||Yes||2/5|
|Scottish Power||1 – 3 Years||Yes||Yes||30 Days||4.1/5|
|Haven Power||1 – 3 Years||1 – 3 Years||Yes||90 Days||N/A|
Factors to consider when looking for the best energy supplier for your business
When was the last time you updated your business energy contract?
One of the biggest mistakes that businesses make regarding their energy is going out of contract.
Business energy contracts usually last for between one and five years, so it’s too easy to miss your switching deadline. This issue is so widely ignored that the CMA estimates TWO-THIRDS of Big Six consumers are currently on expensive standard tariffs.
If you have not reviewed your business energy needs in a while, it may be beneficial to check your contract end date. This way, you can choose a new tariff (if necessary) and be sure that you’re not overpaying your energy supplier.
Furthermore, if your contract is finishing in the next couple of months, you may also be able to lock in the best prices for when your current contract terminates. Doing this can protect you from the volatility of the business energy market and save you some money in the long term!
Compare suppliers and find the best energy supplier for your business
The difference between fixed and variable energy tariffs
The main difference between the fixed and variable energy tariffs is that fixed price tariffs ensure your business is paying the same price each time for each unit of gas and electricity that you use, this means that it is easier for you to plan and forecast your finances.
If you increase the amount of energy you use, the amount you pay will still increase. This type of tariff only guarantees the cost of your standing charge and the amount you pay per kilowatt hour.
Variable tariffs are the more risky option, however, still have their perks. Choosing a variable tariff means that if the market price of gas and electricity falls, so will your bills. They are also incredibly flexible with how you wish to pay and when you wish to leave, which is ideal if you are a seasonal business or pop-up shop.
The disadvantages of variable energy tariffs stem from the unpredictability of the energy market. If the market rises steeply, then you could end up paying extortionate prices for your gas and electricity, which can be apocalyptic for small business owners. It is also a lot harder to budget for your business overheads as prices can fluctuate.
Discover more about the advantages and disadvantages of different tariff types here
What is Corporate Energy Management and who qualifies for it?
Corporate energy management services are often offered to businesses with large premises or lots of machinery that use a lot of energy (high-end users), publicly funded services, and multi-site businesses like chain stores.
Concerning what corporate energy management is, it simply consists of additional perks that you get for being a big company. These perks can include a variety of things like special tariffs, prices and procurement options, a dedicated corporate account manager, online account management and free gifts.
Offerings vary from supplier to supplier and can sometimes be dictated on a client by client bases, so always make sure you negotiate for the best possible deal for your business – If you are a large business, they will want you, so use this to your advantage!
For multi-sites, it may also be beneficial to secure corporate energy deals through several suppliers in order to take full advantage of their offerings. The issue with this is that things can sometimes get a little complicated, so it makes sense to speak to an expert about how your business can get the best outcome.
Our Corporate Energy Management Team is experienced in securing the best possible options for large businesses and multi-sites, can decipher the market for you and negotiate the perfect strategy for your business.
Where can your business seek independent advice on energy and efficiency?
As an impartial service, the team at Exchange Utility have no problem with directing you towards independent services that can help you to reduce the cost of your energy and find the best provider for your business.
If you can’t find the information that you’re looking for, please get in touch with a friendly team member who will be more than happy to assist you: 0800 9777 000
Why do I have to give notice before I terminate my existing energy contract?
The definition of a contract is a written or spoken agreement which is intended to be enforceable by law.
As with any contract, including your employment and phone, it is often part of the terms and conditions when you first sign up that you must give notice. This means that the person providing the contract has time to prepare for your termination and you also have time to prepare a replacement contract where necessary. Termination notice periods do vary dependent on the organisation, so it’s worth asking what it is when entering into a new contract.