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How To Compare Business Energy Rates and Get the Best Deal?

The best way to get the right deal for your business energy rates is to price compare. Even conducting a small amount of research or a searching a few different business energy providers will give you an idea of just how much you can expect to pay for your business energy but also what the best deals are, and where you can save money.

How to price compare energy suppliers? 

While it may seem as simple as quickly choosing the cheapest option, a comparison search will identify not only the right fixed price but also the additional extras an energy supplier offers.

To compare energy suppliers and find the best deal, you should pay close attention to every factor that plays into a supplier’s rates, as well as the details about the supplier and the customer support they can offer your business.

With price comparison sites available, some businesses will opt to use these in order to simplify this process. However, this will often incur charges for businesses and may require sharing sensitive information with a third party.

Usually, the best way to compare business energy prices and supplier services is to request quotes from a few companies, requesting details about their services and providing them with information about your business. So that you can find the right supplier for the type of business you are running.

Information you will need about your business 

In order for a supplier to provide you an accurate quote and details of the services they provide, you will need to supply them information about your business. From your average annual/monthly energy usage to the size of your business and the type of tariff you are looking for. This information will allow a supplier to offer you the most accurate quote and confirm the details about the most appropriate of their tariffs for you and your business.

What does the best energy contract look like for your business? 

If cost is your main concern, this will certainly determine what contract is right for you. However, a good deal isn’t always the cheapest one. A quality energy supplier will offer a range of options to ensure the contract is unique to your business needs.

From finding a contract duration that works for you to choosing different types of tariffs. Comparing business energy suppliers will highlight which of the main competitors are the most efficient at offering a well-rounded service with plenty of options and support for each business customer. Once you have requested a quote from a supplier they will typically offer you information about their various tariffs, which will include:

Fixed-term tariffs

Standard variable tariffs

The size of your business and how much energy you consume will help to determine which of these two main types of tariffs is best for your business.

Switching business energy suppliers

Once you have made your decision, you can begin the process of switching your business energy suppliers. In order to do this, you will need to:

Gather information:

Current supplier and contract: Find your latest bill and note your supplier name, current tariff, contract end date, and any exit fees.

Energy usage: Gather meter readings and past bills to estimate annual usage.

Contact your new supplier:

Once you’ve found a good deal, contact the new supplier directly or use their online switching form.

They’ll ask for your business details, current supplier information, and preferred start date.

Switching confirmation:

The new supplier will handle the switching process with your current supplier. You don’t need to contact them.

You’ll receive confirmation with your new meter reading date and account details.

Important points:

Check your contract: Switching early might incur exit fees from your current supplier. Consider waiting until your contract ends.

Beware of switching scams: Stick to reputable comparison websites and suppliers. Don’t share your bank details unless confident.

Seek help: If unsure, contact support networks such as Citizens Advice (if you are a small business owner) or Ofgem for support regarding your current energy supply and concerns about tariffs and pricing.