Large Business Energy
As a large business, a better understanding of business energy procurement, how it works and how your business can make the most of the options available to find the right deals and tariffs for you could save you money…
How can I find the right energy provider for my large business?
To find the right energy provider for your large business you should consider the following:
Pricing: Compare the prices of different energy providers to find the best deal. Using an energy broker like ourselves will help you find the right energy deal that’s suited to your business’s individual needs.
Reviews: Due to our expert understanding of the energy market we are able to find the right energy supplier for your business, with an excellent customer experience from quote to renewal and beyond.
Choice of tariffs: Choose an energy provider that offers a range of tariffs that will suit your business. We will always suggest a supplier that we feel is best suited to your business, and we take into account the type of business, the size and the location.
Eco-friendliness: A priority for lots of large businesses is being environmentally friendly, so finding a provider that also has these same values is a priority if reducing your carbon footprint is at the forefront of your company.
To ensure that your large business is matched with the correct provider you should get into contact with Exchange Utility today. Our expert team will provide you with all of the information and support you need to switch business energy contracts with ease.
How does energy pricing work for large businesses?
The difference in pricing all depends on the type of business energy contract that is best suited to your business. There are several types of business energy pricing, including:
Wholesale Energy Prices: The wholesale price of energy refers to the price at which energy providers will buy energy from generators. This is a price which can fluctuate depending on a number of factors including the weather as well as supply and demand.
Retail Energy Prices: The retail energy price is the cost of energy for customers charged by the provider, a price which is usually higher than that at the wholesale cost. The cost is higher to pay for the distribution, customer service and running of the provider that will supply your energy.
Tariffs: The way in which energy is priced is known as the tariff; charging a fixed tariff means the cost per unit of energy is fixed, whereas valuable tariffs will see the price shift up or down.
How much energy do large businesses use?
The amount of energy a large business uses will vary dramatically depending on its size, type and location. According to the UK government, the average large business will use around 65,000 kWh of gas and over 50,000 kWh of electricity.
Your business will be classed as large by energy providers should its usage of energy rates be the same or more as the figures stated above.
What types of large business energy contracts are available?
Fixed-price tariffs: These tariffs offer a fixed price per unit of energy for a fixed period of time, which can be anything between one and five years. This is ideal if you’re worried about rising energy costs.
Variable-price tariffs: This means that the price per unit of energy varies, which can depend on the wholesale price of energy. It is slightly riskier to opt for a variable price, especially as large businesses can accrue high energy costs, though as the markets fluctuate the price per unit may go down.
Dual-fuel tariffs: These tariffs offer both electricity and gas from the same provider, which is a convenient option if you’re looking to reduce the number of energy contracts in place.
No standing charge tariff: A standing charge is a fixed daily cost which is paid by you to your supplier, the fee is to pay for issues that may occur. Having no standing charges on your bills might make your unit rate higher than other standard tariffs.
Quick tips to help your business save energy:
Switch energy providers regularly: Prices will often fluctuate over time, so it’s important to review your energy contracts at every renewal and switch providers if there are better tariffs or deals available.
Choose the right tariff: There are a number of different energy tariffs available, so it’s important to choose one that suits your business needs. For example, if you have a predictable energy usage, you may want to choose a fixed-price tariff.
Make your business more energy efficient: There are a number of ways to make your business more energy efficient. This is vitally important for large businesses that are looking to reduce their carbon footprint.
Take advantage of government schemes: There are a number of schemes available to help support large businesses with rising energy costs. You can view details about these schemes below.
Take a look at our guide to being more energy efficient at work for extra tips that’ll help you save.
Can my large business get help with energy bills?
There are a number of schemes that are available for large businesses to help them with high energy bills, including the following:
Energy Bill Discount Scheme: This scheme offers a discount on electricity bills to eligible businesses.
Business Energy Efficiency Grants: These grants can be used to help businesses invest in energy-efficient products, services and equipment to help reduce their overall carbon footprint.
Hardship Funds: Some energy providers will offer a hardship fund that will help businesses that are struggling with paying their energy bills.
Large business energy FAQs:
Is my business eligible for government help?
To check if your business is eligible for the Energy Bill Discount Scheme, you can use the government’s eligibility checker.
How to qualify as a large business?
To be classed as a large company you must have more than 250 employees. Companies as large as this tend to command the highest yearly turnover.
Does your business need a half-hourly meter?
If your company is using more than 100 kWh every half an hour then you must have a half-hourly meter. Not every business needs a half hourly meter, so if your business isn’t required to have a half hourly meter then getting one installed isn’t going to benefit your business.
What type of business usually has a half-hourly meter installed?
Most of the businesses that use half-hourly meters will have a high energy usage. Businesses that might work around the clock or large warehouses that use lots of equipment, lighting and have a high amount of staff will most likely require a half-hourly meter. Examples include:
✔ Department Stores
✔ Distribution Centres
How do I check if I have a half-hourly meter?
It’s easy to check if you have a half-hourly meter installed at your business. You simply need to check your MPAN number – you can view more here on MPAN numbers. Your MPAN number (Meter Point Administration Number) can be found on your energy bills. To check if your business has a half-hourly meter look at the code which starts with ‘S’ if the next two numbers are 00, you’ll have a half-hourly meter.
How many large businesses are there in the UK?
According to the government website, there are only 7,700 businesses that are classed as large (250 employees or more). There are over 35,000 medium-sized businesses (50 to 249 employees. There are over 5.5 million businesses in total, meaning small businesses (0 to 49 employees) make up the biggest percentage of businesses with over 5.4 million in the UK.
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To get started and enable us to prepare an accurate comparison for you, we will need some information from your utility bill. This will be your meter number, bill period, payment amount and tariff information.