Compare business electricity

Energy isn’t cheap but switching to a different tariff could save you money on your business electricity. 

It can take a little longer to compare business energy deals than domestic ones. Happily, you can save time by letting Bionic, our energy expert partner, do all the hard work for you. Click on the Get quotes button to investigate your options.

Business energy differs from home energy in a few key ways. First, business energy rates are usually cheaper, but you’re locked into the contract for longer. This is because business energy is bought in bulk to cover the contract term in its entirety.

While this can make your business electricity cheaper, your contract could last as long as five years and there’s usually no way of getting out of it before the renewal window, which appears between one and six months before the contract’s end date. There’s also usually no cooling-off period, so make absolutely sure you’re getting the best deal before you sign anything.

Additionally, business energy tariffs are usually single fuel only, so you may have to buy gas and electricity separately.

Considering how important energy is to your business – and how long you’ll be tied into a single tariff – it’s vital to know your business needs and the options available to suit them. Things to consider might include:

• The type of tariff - a fixed rate offers predictable costs that won't change for a set period of time, while a variable rate fluctuates with market changes meaning the price may be cheaper one month or more expensive another.

• Contract length - long-term contracts may offer the best rates, but they're less flexible than short-term contracts. It's also worth checking if there are any exit fees.

• Energy needs - look at the energy consumption of your business and pick a tariff that best suits your needs - some tariffs are designed for low energy usage while others may offer bulk discounts for high energy usage or renewable energy.

There are four main types of business electricity tariffs available to compare:

• Fixed: this tariff works in the same way as a domestic fixed tariff, where a set price is charged per unit of energy used

• Variable: this tariff works in the same way as a domestic variable tariff, where market conditions can mean that the rate charged per unit of energy changes as the supplier raises or lowers prices

• Deemed and out-of-contract rate: this is a contract you’ll be put on if your previous contract expires without you signing up to a new one or before switching supplier. This can also apply if you move to a new premises and don’t agree a contract with the supplier. You’ll probably be paying the supplier’s most expensive rates in the same way a domestic customer would if their fixed contract expired and they were put on a standard variable tariff but you can switch at any time

• Rollover: this is a contract you’re put on by your supplier if you haven’t agreed a new contract or told the supplier that you plan to switch before your current contract ends. It usually lasts for a year and you can’t switch during this period

Other options may also be available:

• Smart meter: your electricity usage is monitored half-hourly which means more accurate bills

• Multi-site: your energy company may offer a deal to supply electricity across several business locations

• Renewable: the electricity comes from green sources, like solar power

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.