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21st June 2022

Why Small Businesses Should Compare Electricity Prices

Small businesses, like other consumers, are faced with energy prices that are going up every year. This means they need to do everything possible to save money and reduce their cost base. In this article, we look at how small businesses can compare electricity prices and how it will help them save money.

compare electricity prices for small business

Small businesses, like other consumers, are faced with energy prices that are going up every year. This means they need to do everything possible to save money and reduce their cost base. In this article, we look at how small businesses can compare electricity prices and how it will help them save money.

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What is business electricity?

Business electricity is the term used to describe the supply of electricity to businesses. This includes small businesses, shops, offices, factories and other commercial premises. Businesses have different needs for domestic customers, so different tariffs and contracts are available.

Why should small businesses compare electricity prices?

The main reason for small businesses to compare electricity prices is to save money. By shopping around and comparing prices, businesses can get a better deal on their electricity supply. This can lead to significant savings, which can be used to invest in the business or to increase profits.

Cheaper electricity rates for small business

The cost of electricity for small businesses can be a major expense, and this is why it is important to compare prices from competing providers. Many electricity companies offer cheap rates if you sign up for long-term contracts, but other options are available if you don't want to commit yourself long-term.

Free energy audits

  • Energy audits are a great way to find out how much electricity your business is using.
  • An energy audit can help you to reduce the amount of electricity you use, saving you money on your bills.
  • An energy audit can also tell you where leakages in your business are in the electrical circuit – this will allow you to identify any problems with wiring or equipment that could be causing unnecessary wastage of energy and possibly even fire hazards.
  • Finally, an energy audit can identify ways in which businesses like yours might be able to save money by reducing their environmental impact (such as by switching from fossil fuels such as coal or oil).

An energy audit is a free service offered by most UK utility companies to help you understand how much electricity your business consumes and identify ways that could be reduced.
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More control of your electricity prices

When you compare electricity prices, you can choose the best electricity plan for your business. You can get a better understanding of how much electricity is costing you and how much it would cost if you changed to a different electricity plan. This will give you more control over your business's finances and allow for better budgeting in the future.

You can also choose the best electricity provider based on their service quality and price when comparing quotes, making sure that they offer a high level of customer support and services if there are any problems or issues with usage or billing.

In addition to being able to choose the best plan for your business, you can also switch electricity providers if you find that another provider is offering better value for money. This type of flexibility means that you are in control of your electricity bills and can make sure that they do not rise above an acceptable amount, which could cause serious financial problems.

Competitive tendering processes

When it comes to small businesses, there may not be a better way to save money than by comparing electricity prices. Competitive tendering processes allow businesses the opportunity to choose their energy provider in a fair, transparent way. By allowing customers access to multiple suppliers and rates at no cost, these services increase competition in the market and provide increased savings for your company.

In order to compare electricity prices, you need to know how much energy you are using each month and how much it costs. This information can be found on your most recent electric bill.

Energy saving incentives

  • Many energy suppliers offer incentives for installing energy efficient appliances and lighting, as well as for meeting renewable energy targets.
  • Renewable energy concessions. Other providers have special deals on solar panels and other renewable technology, making it cheaper to buy than an equivalent non-renewable product.
  • Home heating and cooling rebates. Still, others provide rebates or special low-cost loans for installing new heating systems or insulation in your home, saving you money on each bill.

compare electric prices for small business

These are all great reasons to compare electricity prices for small businesses.

Compare electricity prices, and you'll find that:

  • You can get a free energy audit from your provider. This will help you understand how much energy you use, how it's used, and what the opportunities are for reducing your power consumption.
  • You have more control over your electricity prices as a small business owner than if you were an individual customer. For example, if there is a sudden spike in price due to an environmental event or natural disaster, this may not affect smaller companies as much as larger ones with higher demands on their bills each month.

Smaller companies also tend to be able to switch providers more easily, so they could try out another company with better rates if they saw fit.

  • Competitive tendering processes are great because it gives smaller businesses access to cheaper deals from different providers who compete for their business rather than just one company deciding what rate everyone should pay regardless of their usage patterns or credit rating status (or lack thereof).

These tenders often offer discounts upfront, such as fixed price contracts where all costs are known upfront instead of paying off monthly instalments throughout the year so there won't be any surprises later down the line when someone has unexpectedly paid too much money without realising it until after signing up with them originally!

We hope that these reasons have helped you to see why it's so important to compare electricity prices for small businesses. The last thing you want is to be stuck in a contract that isn't right for you and end up paying more than necessary. By comparing electricity prices, you can find one that suits both your needs and budget perfectly!

If you're looking for a way to save money on your business' electricity bills, Compare Business Electricity is the perfect resource for you. We provide detailed quotes from a wide range of suppliers, so you can find the best deal for your company. Visit our website today to get started!

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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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