Electricity
Looking to switch your business electricity supply?
Looking to switch your business electricity supply?
Electricity is an essential part of running a business. Whether it’s used to turn on the lights or to power machinery or computers. However, your business electricity is not something you want to be worrying about and spending a lot of time on when you have a business to run.
Switching your energy supplier gives you the opportunity to reduce your energy costs and company overheads while freeing up money for more important areas of your business.
If you have not switched your electricity supplier in the last few years then on average you could save your business up to 20% off your electricity bills.
With energy prices rising, the task of finding a cheaper business electricity contract can seem very daunting. Unlike the domestic market, when looking for a cheaper business electricity tariff you need to contact each individual supplier for a bespoke quote. This task can be time-consuming and confusing.
How can we help you switch?
Our team of energy advisors can help you and make the process quick, simple and can do the majority of the work for you so you can carry on with your business. We will ask you a few simple questions to help us get an understanding of your energy usage and needs. Then our team will go off and compare your individual requirements against all the available commercial electricity tariffs and deals on the market.
Once we find you the best deal possible we will walk you through the switching process step by step. Making sure you are happy and understand your contract and the rates before your sign and switch.
Useful Information On Business Electricity
Metering Point Administration Number (MPAN)
MPAN stands for Metering Point Administration Number. It provides a unique reference number for your electricity meter.
The number is contained inside a series of 7 small boxes with a capital S in front. It may be located in the bottom left corner or sometimes top right, somewhere on your last electricity bill. It’s sometimes quite small print and difficult to find, but when you see a set of numbers in some boxes, with a capital S in front, then you have found it.
Type of Contracts
Fixed Term
A fixed term contract offers a pre-agreed unit rate for the defined period of the contract. A contract length is commonly between one and four years.
Rollover Contracts
A rollover contract are also known as assumptive renewal contract. If you have not put a new contract in place by the end of your current contract your supplier will place you on a rollover contract. Rollover contracts are not ideal as they typically have inflated rates but many businesses fall into the trap of auto-renewal contracts.
It is important to keep a note of your contract renewal date so you can make sure you are always on the best deal and can shop around to find the best rates.
Deemed Rates Deemed rates, also known as out-of-contract rates, come into effect when a business electricity customer has just moved property or during the interim between the end of a contract and the start of a new contract switching over.
Type of Charges
The simplest way to check if you are paying over the odds for your business electricity is by checking what price you are paying per unit (kWh)
Unit Cost
The unit rate is the cost for each unit of energy used (kWh). Every business will be offered different rates based on their size and consumption. On average a small to medium business will be charged between 3 and 4 pence per unit of electricity.
Standing Charge
A standing charge is a fixed daily cost which each business pays to cover the cost of supplying your business premises with electricity. The charge covers maintenance, meter readings and connecting your premises to the network.
If you would like more information about electricity rates and contracts or you have any further questions get in touch with our energy team at info@utilityboard.co.uk
Would you like to know more?
We are very approachable and would love to hear from you. Feel free to call, message or ping us or simply complete the enquiry form and we will get back in touch.