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6th July 2022

How To Cut Your Business Electricity Costs By Comparing Providers

Electricity is one of the most important utilities for any business to consider. As a business owner, you want the best price and service available to run your company. However, with so many providers on offer, it can be difficult to know where to start. This guide explains how you can compare your business electricity options and find out which provider will save you money while providing reliable power.

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Electricity is one of the most important utilities for any business to consider. As a business owner, you want the best price and service available to run your company. However, with so many providers on offer, it can be difficult to know where to start. This guide explains how you can compare your business electricity options and find out which provider will save you money while providing reliable power.

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Find out what your current business electricity costs are.

To figure out if you have a good deal on your electricity, you first need to find out what your current business electricity costs are. This will give you a baseline for comparison when exploring other providers.

To do this, start by finding out how much electricity you use:

  • How many kilowatt hours (kWh) does it take to run all of the equipment in your office?
  • How much does it cost per month?
  • How much does it cost per business?

You can do this by looking at your energy bill. There'll be a column with the amount of kWh you used in a month. Multiply that by 12 to find out how many kWh you use in a year. Then, multiply that number by your cost per kWh (found on the same bill) to get your annual electricity expenses.

Find out how much you use.

To measure your electricity usage, you'll need to know what it is. There are many different ways to do this:

  • You can measure how much electricity you use in kilowatt hours (kWh). One kilowatt hour is 1,000 watts of power for one hour (or 1 amp for 1,000 hours). If you have a device that measures electricity usage by the minute or second, it will likely report its readings in kWh. This is also true when measuring usage with an energy meter box attached directly to the circuit breaker box of your business premises.
  • You can also measure how much electricity you use in units instead of kWh (watts). A unit typically equates to 100 watts; so if there were 100 light bulbs all on at once and running at full brightness for one second each—running concurrently—that would be 100 x 100 = 10,000 units used! This measurement may not sound very practical when talking about turning off lights or charging cell phones because we don't think about these things as "100 watt light bulbs”.

compare electricity cost per unit

Compare prices from the various business energy providers.

If you want to save money on your business energy bills, then it's important that you compare prices from the various business energy providers. The best way to do this is to find out how much each supplier charges for the tariff in which you need electricity and compare that price with those of other suppliers.

You can also compare prices from different electricity tariffs - some tariffs are more expensive than others but may have better rewards or benefits for consumers.

The easiest way to do this is through one of many price comparison websites, which allow you to compare prices from different electricity providers. If you're looking for the cheapest tariff available, make sure it has all the benefits and rewards you need.

Check the terms and conditions of the contract.

Once you've found a few business energy providers that offer competitive rates, it's important to read through the terms and conditions of their contracts before signing anything. This will help you avoid any surprises down the line and ensure that you're getting the best possible deal.

Some things to look out for include:

  • the length of the contract
  • the cancellation policy
  • early termination fees
  • automatic renewals
  • price changes during the contract period
  • payment terms and conditions

Look out for one-off fixed costs before signing a contract.

While it's good to know exactly how much you're paying for electricity over the course of a contract, it's also important to avoid one-off fixed costs. These fees can be misleading and should be avoided. Examples include:

  • hidden fees and charges
  • early termination fees (also known as exit fees)
  • exit penalties

compare electricity costs uk

Find out about the renewal process.

You should also find out about the renewal process. This might seem like an insignificant issue, but you need to know whether you'll be able to leave the contract early if your personal circumstances change and you can no longer afford the service.

It's also important that you understand how much notice is required before leaving a provider and what fees apply if you do decide to end your agreement with them early.

You can compare business electricity prices to reduce costs.

Looking for ways to reduce your business electricity costs?

Comparing prices from different energy providers can help you find a cheaper deal.

Find out what your current business electricity costs are.

To find out how much you're paying, contact your current provider and ask for an annual bill showing how much you pay per unit of energy (typically kWh). This will give you a first idea of the price range that's available on the market.

You may need to ask for this information from several different providers if yours doesn't provide it in advance, but it's worth doing so that you know where to start looking when comparing prices from other companies.

Compare prices from other companies.

If there's no way for someone else to get access to this information without actually being inside your company, then another option is simply finding out what other businesses are paying in similar locations. Search online or ask them directly via social media channels dedicated specifically to helping people save money on their utility bills while still getting reliable service!

If you follow these steps, you will be able to save money on your business electricity costs. It's important to compare prices from the various providers and find out more about their service levels before signing any contract. It is also worth taking the time to understand the renewal process so that you can avoid surprises at renewal time.

If you're looking for ways to reduce your business electricity costs, then Compare Business Electricity can help. We provide information and tools that allow businesses to compare prices from different energy providers and find cheaper deals. Our site is easy to use, and we offer tips and advice on how to save money on your business electricity bills. So what are you waiting for? Visit our website today and see how much you could save!

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Woodgrange Laundry

5 Stars Rating

2019

Year Joined

£120,000

Total Savings

Voltix Services Ltd

5 Stars Rating

2019

Year Joined

£120,000

Total Savings
Don’t wait any longer!

Want to know how much you could save?

Simply get in touch to let us know a bit about your business and we’ll source quotes from a range of suppliers.

Call our business energy specialists for free right now!

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If you’re looking to switch your company’s energy suppliers, our team here at Compare Business Electricity can help you find the deal that will secure you the biggest savings.
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