Nothing in life is certain except that if you haven’t switched your business electricity contract you will be paying too much.
Even if you have switched there are still savings to make as the volatility of the energy markets constantly throws up pricing opportunities among the peaks.
How to get cheaper business electricity prices
There are four important elements that you need to pay attention to make sure you get a better deal on your business electricity.
The two most significant elements in any business electricity tariff are the standing charge and unit rate.
Many people just worry about the unit rate, but getting the lowest unit rate doesn’t necessarily mean you’re paying the lowest possible price for your electricity; it all depends on how much energy you use.
If you’re a heavy user, a low unit rate is vital, but if you use a relatively low amount of electricity, you might be better off with a low standing charge and higher unit rate.
Here at Business Juice we can find a tariff with the balance of standing charge and unit rate that suits your needs.
By signing up for a longer-term contract you can fix your energy prices for the whole period of the contract. You’re likely to pay a premium to start off with, but with the upward trend in business electricity prices you’ll almost certainly see savings in the long run against if you had signed multiple short-term contracts over the period.
We can offer anything from 1 week to 6 year contracts, with every option in between meaning if there’s a contract requirement out there, we can deliver it.
You’ll pay out of contract rates if your contract runs out and you don’t have a new contract ready to switch to, and deemed rates in the period when you move into new premises before you can sort out your contract.
This is an expensive position to be in. Out-of-contract rates can be twice the level of in-contract rates. Deemed rates can be similarly punitive. You should always avoid being exposed in this way. Business Juice can work with you to ensure you don’t pay the penalty.
Business electricity prices are volatile – they change every half an hour.
Prices fluctuate so much because – unlike the domestic market – business electricity isn’t bought in advance, it’s bought as and when new contracts come in.
This means that the wholesale market has a huge impact on business electricity prices, when you get a quote you’re happy with it’s wise to snap it up there and then, because you can’t guarantee that that price will still be available tomorrow.
Use Business Juice
We’re always on hand to provide advice and compare business electricity prices on your behalf.
We compare prices from the full range of UK suppliers, saving you time and money.