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Business energy is likely to be a necessity for the majority of UK companies and any of us in the corporate world understand the importance of reducing overhead costs where possible and business energy is a quick and easy way to do this. However so many of us get stuck in the rut of staying with the same provider year after year which is likely to be costing us thousands. What parts of your business could be that money is put to better use? Follow the links below to see how much you could save

Types Of Business Utilities:

  • Business Gas
  • Business Electricity
  • Commercial Renewable Energy

Good To Know…

  • Your Business is likely to be subject to a credit check
  • If you have an existing provider you will need to give them notice, failure to do that usually results in being put on a more expensive tariff
  • If there is any debt held with your existing provider it’s unlikely you would be allowed to switch until that debt is cleared

Top Tips…

  • Reduce Business Energy costs by first ensuring all staff starting with senior management are aware it’s a focus – you could hold a meeting or forum and ask for ideas specific for your company
  • Speak to your supplier about what advice, support or tools they have that you could utilise, they often won’t promote how much is available so ensure you ask them every time you speak
  • Up-scale what you do at home – use energy saving bulbs, only boil the water you need for a cup of tea, turn off lights and appliances when nobody is there etc.

Business Energy Costs Are Rising – How Can You Keep Costs Down?

Business Energy Costs Are Rising – How Can You Keep Costs Down - Business Energy

According to a report by the Committee on Climate Change, the cost of business energy is expected to rise by up to one third by the year 2030. Businesses of all sizes are being urged to take action now to avoid being hit by significant price hikes in the future, including comparing relevant suppliers, identifying the best deals, and switching providers if necessary to ensure they’re not paying more for their business electricity than they really need to. Is your business prepared for price rises?

Why Are Business Energy Prices Rising?

A question many businesses are asking is why their business gas prices and business electricity prices are going up. There are a number of reasons that some suppliers are raising their costs:

A question many businesses are asking is why their business gas prices and business electricity prices are going up. There are a number of reasons that some suppliers are raising their costs:

  • Profits

Wholesale business energy prices are actually decreasing, but some business electricity suppliers aren’t passing this discount along to their customers to improve overall profitability.

  • End of the Price Freeze

Business electricity suppliers such as NPower have price freezes in place that are due to to expire within the next few years. Price freezes are not expected to be renewed.

  • Renewable Resources

As businesses are being urged to ‘go green’ to meet government initiatives, those businesses who are not in a position to use renewable energy may be penalised by severe price hikes.

Keeping Business Energy Costs Down

The good news for businesses is that the expected rise in business gas prices and business electricity prices isn’t something that needs to significantly impact a business. There are many ways businesses can keep their energy costs down quickly, simply, and easily.

  • Compare Business Electricity Prices

By comparing business energy price plans using online price comparison tools, businesses can identify the best deals on the market from major business electricity suppliers in the UK.

  • Promote Green Behaviours

It may seem simple, but switching off lights when they’re not being used and turning computers off over the weekend can really make a huge difference to energy usage and help prevent waste.

  • Encourage Regular Maintenance

Over the winter, it’s important to ensure the premises is well maintained. Small cracks in window frames, for example, can affect temperature and it’ll cost more to adequately heat the building.

While the business energy price hikes may seem worrying on the surface, it’s important to remember that by making just a few changes in the workplace to prevent energy waste, and comparing price plans to find the best deal, businesses can help to keep utility costs to a minimum.

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What Do You Need From Your Business Electricity Suppliers?

What Do You Need From Your Business Electricity Suppliers - Business Energy

Think arranging your business utilities is complicated? Think again! Whether you’re a new start-up, an ever-growing and developing SME, or a large, established organisation, there are a number of factors you should be looking for in your business electricity contract:

  • Start-up Businesses

You may have heard that long term energy contracts are cheaper for businesses than short term contracts and, with business electricity prices so unpredictable, this is certainly true to an extent. However, for new start-ups, a short term deal could be just what you’re looking for. As a new business, in a new premises, you may not be able to fully anticipate your expected energy usage, which could mean that you end up paying above the odds by entering into the wrong long term contract with the wrong business electricity suppliers. Providers such as EDF offer six to nine month terms, a 30 day notice period, and no exit fees, allowing new start-ups to settle in and grow and develop their business before committing to a specific supplier, plan, or rate.

  • Small & Medium Enterprises

Small and medium enterprises (SMEs) are frequently faced with one main concerns when it comes to business energy – electricity costs. SMEs often need to work to tight budgets, with no room for unexpected outgoings. If budget is a primary concern, it’s recommended that SMEs search for business electricity suppliers who offer fixed rate plans which mean you pay a set rate each month regardless of any significant changes in business electricity prices or business gas prices. As business energy prices can sometimes be unpredictable, experts are claiming that ‘the majority of the best deals on the market remain fixed, meaning cheaper energy and protection against rises’. Of course, business electricity prices may plummet, but fixed rates still remain an attractive option for SMEs.

  • Larger Corporations

Do flexible business electricity plans offer the best rates? No – fixed rate plans are much better if business electricity prices are your main concern. However, that’s not to say larger corporations won’t benefit from being on a flexible plan. While prices can go rise and drop in line with market trends, what these plans give you is the ultimate control over how you manage your business energy. Variable plans allow corporations to switch suppliers whenever they like, without being tied into a lengthy contract, meaning they can regularly change provider to ensure they’re getting the best deal. How do you find the best deal? By comparing prices! Price comparison tools are a fast, easy way to see what deals business electricity suppliers are offering to their customers.

New Business Electricity Suppliers Shaking Up the Market

We’ve all heard of the ‘Big 6’ business electricity suppliers – British Gas, EDF Energy, E.ON, npower, Scottish Power, and SSE – but how many other business electricity suppliers can you name? If you’re exclusively focused on the ‘Big 6’, you may not be getting the best deal for your business electricity – or the best service. Many smaller suppliers are beginning to shake up the market by offering improved services and more attractive rates than their larger, more well known counterparts.

In 2015, the Telegraph newspaper reported on the ‘best’ and ‘worst’ business electricity suppliers in terms of customer service, and the results may surprise you. Based on customer satisfaction rates, the ‘Big 6’ where amongst the 7 worst business electricity suppliers. Taking the top 5 places on the leaderboard were the following:

  • Ecotricity
  • Good Energy
  • Ebico
  • Ovo Energy
  • Utility Warehouse

How many of those suppliers have you heard of? How many would you consider for your business electricity needs? Research likes this shows us why it’s so important not to get caught up by the big names, and outlines just some of the ways that small businesses could benefit from looking at alternative business electricity suppliers, and some of the industry’s latest newcomers.

The good news is that many customers are beginning to realise that the most well known business electricity suppliers may not always offer the best service, or the best rates. Energy UK reports that more than one third of all customers who switch supplier each month move from a large provider to a smaller, independent enterprise in a bid to secure the best deal for them, at the best price.

Finding a Business Electricity Supplier

There’s good and bad news for small businesses. The good news is that the market doesn’t seem to be slowing down, as newcomers Open Electric in Northern Ireland and Scottish-based Our Power Energy are demonstrating, which means there’s more choice than ever before. The bad news is that there’s more choice than ever before! Looking for a suitable business electricity supplier can be overwhelming at times, which is why it’s a good idea to compare business energy online. By using online comparison tools, it’s easier to find suppliers – even those you’ve never heard of – and see exactly what sort of deals they’re offering for new customers. Can you beat what you’re currently paying? Find out at compareyourbusinesscosts.com.

market isnt slowing down – open electric in northern ireland & scottish-based our power energy

Business Gas Prices Becoming More Affordable?

Has your company been paying too much for its business gas? Shocking reports by the Competition and Markets Authority show that many of the major energy suppliers have been selling business gas at prices that have been deemed unreasonable given the current state of the economy. The report suggests that small businesses have been paying £500 million more in business gas prices than they should have done, had the market really been as ‘competitive’ as the suppliers make out.

As a result, some suppliers have been shamed into lowering their prices, which is good news for small businesses. Earlier this year, British Gas announced a 5 percent cut in business gas prices, and it is expected that the remainder of the ‘Big 6’ will follow suit so as to retain favorability amongst customers. The price drop could also be seen as an attempt for the ‘Big 6’ to hold their place in the market as more and more smaller, independent suppliers gain popularity amongst savvy customers.

However, it’s not all coming up roses when it comes to business gas prices. Despite this 5 percent drop in costs, many are criticising British Gas for not offering more significant savings. The BBC reports that there has been a whopping 25 percent cut in wholesale gas prices since last year, and customers are becoming frustrated that more of these savings haven’t been passed along. Suppliers are blaming the rising cost of pipes and pipe relocations for offering significantly smaller savings than expected.

How To Ensure You’re Not Paying Too Much in Business Gas Prices

What industry research is telling us is that, despite business gas prices seemingly becoming more affordable on the surface, many of us may still be paying above and beyond for our energy. So what’s the best way to ensure we’re not paying too much? By shopping around for the best deals, and by comparing the best deals. It really does pay to compare business energy. Here are just some of the advantages of using an online comparison tool:

  • Identify New Suppliers

    – You may not always get the best prices from the ‘Big 6’. Comparison tools can help you identify smaller suppliers who may be able to offer more attractive rates.

  • Clear Outline of Service

    – Comparison tools tell you everything you need to know. You’ll be able to compare different packages from different suppliers online quickly and easily.

  • Best Prices & Deals

    – A comparison tool can help you shop around for the best prices. You can compare similar services, and choose the option that will fit into your budget more easily.

If you’re looking for a handy, easy-to-use online comparison tool, check out compareyourbusinesscosts.com.

Are the ‘Big Six’ About to be Overshadowed?

If you’re thinking about changing your business electricity suppliers, the first companies that come to mind will probably be a part of a group known as the ‘Big 6’. The Big 6 – British Gas, SSE, EDF Energy, E.On, Scottish Power, and Npower – have continuously dominated the market for as long as we can remember, but it all that about to change? While the Big 6 are continuing to dominate, recent figures suggest that they’re slowly but steadily losing market share, and could come under threat from smaller, independent supplier in the near future.

Just 5 years ago, the Big 6 boasted a market share of 99.8 percent, but today only account for 92.4 percent of the market. Independent business energy suppliers, however, are on the up, and figures show that there are now three times as many smaller suppliers today than in 2010. SMEs are being urged to consider smaller suppliers due to the numerous benefits that they could bring to the business. Advantages of switching to an independent supplier include:

  • Cheaper Rates

    On average, smaller business electricity suppliers offer better rates than the Big 6. This is because independent suppliers are not subjected to the same government licensing issues as larger corporations, and can use this saving to their advantage by offering more competitive business gas prices and electricity prices than their Big 6 counterparts.

  • Trustworthy

    A common concern regarding smaller suppliers is that they may not be trustworthy, and while this can be a legitimate worry, it’s important to realise that some smaller suppliers aren’t really that small at all. In fact, the UK’s largest business electricity supplier currently has more than 550,000 customers – and almost twice as many accounts!

  • Good Customer Service

    The level of customer service you receive can never be guaranteed, but on the whole many are reporting that smaller suppliers are better with their customers than the Big 6. It’s being suggested that as smaller suppliers do not need to focus on aspects such as generation and distribution, they have more resources for focusing on customers.

The Competition and Markets Authority is reportedly considering breaking up the Big 6, which means that the number of business electricity suppliers businesses have to choose from will grow considerably. For SMEs, it’s never been more important to compare business energy prices online to identify the best suppliers, and the best business electricity rates. Compareyourbusinesscosts.com has all the tools you need to find the best deals and the best rates for your business.

Business Urged to Follow Consumer Trend for Switching Suppliers

There’s a growing trend among UK consumers for switching energy suppliers in order to secure the best deals available, and small businesses are being urged to follow suit. Following the government’s Power to Switch campaign, which has seen 1.2 million households change their supplier since the start of the year, small and medium enterprises are being advised to compare business electricity prices to ensure they’re not paying above and beyond what they really need to. Lawrence Slade, CEO of Energy UK, says that it’s vital to ‘take advantage of the wide range of deals on offer by switching electricity supplier’.

This new advice is specifically aimed at SMEs, start up enterprises, and other small businesses who are considered to be the most likely to stick with a single provider instead of shopping around for new business electricity suppliers. Businesses that are focused primarily upon growth and development, and who have a limited workforce, may find that they don’t have the resources required to make business energy a top priority. However, switching suppliers can have many benefits for small businesses, including:

  • Lower Business Electricity Rates

    If price is a major concern, many businesses could save by switching to a supplier that offers more competitive and attractive energy rates.

  • New Customer Deals

    Switching supplier can often give you access to special deals for new customers that could mean you pay an even lower rate during the first few months.

  • Greater Flexibility

    Choosing a supplier that offers a wider range of products such as renewable energy can help your business save money in the long term

How to Switch Your Business Energy Supplier

‘When it comes to switching, the power is in people’s hands to get a better deal and save’, says Energy and Climate Change Secretary Ed Davey. The good news is that it’s a competitive market, which means that businesses are in control. SMEs should carefully consider the current deals available to ensure they’re getting the best rates and the best service to meet their growing and evolving needs. Using online comparison tools, it’s easier – and quicker – than ever before to compare business electricity rates. Switching supplier doesn’t need to be complicated or time consuming – with compareyourbusinesscosts.com, it’s a piece of cake.