It makes sense for small businesses to reduce overheads by finding the cheapest business electricity supplier. Why pay extra for the same product when you can look for the best business electricity rates?
Switch and save
How long has your business been with the same electricity supplier? The truth is that if you’re not shopping around, you could be missing out on significant savings.
Most energy contracts last for one to three years. Towards the end of your contract, you’ll have a period in which you can switch to a new supplier or renegotiate your contract terms with your existing supplier. This is the best way to find the cheapest electricity supplier for your small business.
If you stay with your current energy provider, they will automatically move you on to a new (and usually more expensive) tariff when your contract ends.
Beyond the ‘big six’
Most businesses are aware of the ‘big six’ energy suppliers – British Gas, EDF Energy, E.ON, Npower, Scottish Power, and SSE. But often, it’s the smaller suppliers who offer the cheapest business energy contracts for small businesses. You could potentially reduce your monthly bill by looking beyond the big six when choosing your new energy supplier. More and more small businesses have decided to switch to a better tariff – even if it’s a company they don’t know.
So, who are the cheapest electricity suppliers in November 2019?
Taking a look at some recent quotes we’ve done for small businesses based in London, here are some of the cheapest rates we could get in the current energy market:
|Notes||Contract Length (months)||Unit rate p/kWh||Standing charge p/day|
|Dual Energy||24||Day: 14.9300|
|No Credit Score DD||12||Day: 15.6000|
|EDF Energy||No Credit Score DD||12||Day: 16.1000|
As you can see, comparing energy quotes to find the cheapest deal isn’t as straightforward as one may think. Unit prices change depending on factors such as location, contract length, payment terms and energy consumption habits. On top of this, there’s also the standing charge which needs to be factored in.
That’s why savvy small businesses choose to use the services of an energy consultant. An expert energy consultant will compare the market, taking all factors into account, to come up with the cheapest electricity contract for your business’ unique needs.
Speak to a Smarter Business consultant to find the cheapest electricity contract for your business. Best of all, their services won’t cost you a cent!