Compare business electricity

Running a business comes with many costs, and electricity can be one of the biggest. The good news is that comparing business electricity tariffs can help you identify more competitive rates, reducing your energy bills and freeing up funds for other priorities.

Business energy rates and deals differ significantly from domestic ones, and finding a new commercial energy deal can requires more time and effort. But, by switching to a better deal, you could cut costs significantly without compromising your energy supply.

To make the process quicker and easier, our trusted energy partner, Bionic, can do the heavy lifting for you. Simply click the Get quote button above, and its experts will compare tariffs from leading suppliers to find the right option for your business.

Business energy differs from home energy in several important ways, making it essential for companies to understand the specifics before signing a contract. For starters, business energy rates are often cheaper than domestic rates because energy suppliers buy in bulk to cover the entire contract term. However, these contracts are typically long-term, lasting up to five years, and can be more restrictive.

Unlike home energy contracts, business energy agreements usually don’t include a cooling-off period, meaning you can’t back out once you’ve signed. Additionally, there’s no option to leave early unless you're in the renewal window, which generally falls between one and six months before the contract ends. This makes it crucial to compare deals carefully to ensure you're securing the best rate for your business.

Another key difference is that business energy tariffs are usually single-fuel only, so you may need to purchase gas and electricity separately. By fully understanding these factors, businesses can avoid pitfalls and lock in cost-effective energy solutions tailored to their needs.

Given how crucial energy is to your business — and the fact that you’ll be tied to a single tariff for an extended period — it’s essential to understand your specific needs and choose the right options. Here are a few key factors to consider:

• Type of tariff: A fixed-rate tariff ensures stable and predictable costs that won’t change during the contract term, providing peace of mind. Alternatively, a variable-rate tariff adjusts with market fluctuations, potentially offering cheaper prices one month but higher costs the next.

• Contract length: Long-term contracts often come with lower rates but less flexibility, whereas short-term contracts provide more freedom but might cost more. Be sure to check for any exit fees before committing.

• Energy needs: Assess your business’s energy consumption and choose a tariff tailored to your requirements. For example, some tariffs are designed for low energy users, while others offer bulk discounts for higher usage or incentives for choosing renewable energy sources.

There are several types of business electricity tariffs available, each with its own benefits and considerations. Here's a breakdown to help you compare and choose the best option for your business:

• Fixed tariff: Similar to a domestic fixed tariff, this option charges a set price per unit of energy used, providing predictability and protection from market price fluctuations.

• Variable tariff: This works like a domestic variable tariff, where the price per unit changes based on market conditions. While rates can decrease, they may also rise depending on supplier pricing.

• Deemed or out-of-contract tariff: If your previous contract expires without renewal or you move to new premises without arranging a new deal, you’ll be placed on this tariff. Typically, deemed rates are the supplier’s most expensive, similar to domestic standard variable tariffs. However, the advantage is that you can switch suppliers at any time.

• Rollover tariff: If no action is taken before your current contract ends, you may be automatically placed on a rollover tariff. These contracts usually last a year, and switching is not allowed during this period, often resulting in higher rates.

Other options may also be available:

• Smart meter: With a smart meter, your electricity usage is monitored half-hourly, providing precise data for accurate billing and helping your business track and optimise energy consumption.

• Multi-site: If your business operates across multiple locations, some energy providers offer tailored deals to supply electricity to all sites under a single contract, simplifying management and potentially reducing costs.

• Renewable: Choose a plan where your electricity comes from renewable energy sources, such as solar, wind, or hydro power, supporting your business’s sustainability goals and reducing its carbon footprint.

Here’s how to get the best business electricity tariff

You'll need to source a range of business electricity quotes from different energy suppliers to find the best business electricity supplier and tariff for you.

If you have an existing tariff in place, start comparing other deals as soon as you get a renewal offer from your current energy company.

Here’s more information about how to switch your business electricity tariff.

To compare business energy quotes with money.co.uk, simply hit the button at the top of the page, enter your business’s postcode into the entry box, and our partner, Bionic, will do the rest. 

Bionic will search the market for the tariff that best suits your needs and call you to discuss potential options.