Cheap business energy

A significant amount of businesses can save money by switching energy supplier. Discover how to find the best deal for your commercial premises.

Updated

Many business owners are neglecting to find the cheapest energy deals for their business premises, according to recent data.

A 2013 study conducted by Ofgem indicated that 40% of business owners hadn’t switched energy providers within the previous five years, and that one in three were overpaying for energy as a result of this.

This can be a costly mistake, as the difference between the cheapest energy supplier and an average deal can be significant.

Our guide explains how to find a cheap business energy deal for your company.

How to get cheap business energy

There are plenty of business energy providers listed on price comparison websites. After filling in a few details about your current premises and your current energy plan into one of these websites, you’ll receive a list of cheaper alternatives.

An alternative to a price comparison website is a business energy broker. These are individuals with specialist knowledge of the business energy market who will put in the work to compare providers on your behalf.

This is often necessary in the commercial market, where suppliers tend to offer personalised tariffs based on a business’ individual needs.

There are fewer suppliers offering dual-fuel deals in the commercial market too, so time-pressed business owners often appreciate having a knowledgeable third party to track down the best overall deal for gas and electricity. Some brokers will even get back in touch when your new deal is expiring to complete the switching process for you again.

Whether using a price comparison website or a broker, an important factor to consider is the market coverage. To be sure of finding a competitive deal, use a service which covers the whole UK business energy market.

Can you save by switching supplier?

There is plenty of data suggesting that business owners should take the time to compare and switch energy providers.

Some brokers claim that they can save customers up to 40% on their energy bill, and the process of finding the best deal is far from time-consuming.

In fact, it’s typically effortless once the correct deal has been found. The transition between energy companies is seamless too, so the idea of switching to a cheaper company really should be a no-brainer.

What information do you need to switch?

Whether you’re using a broker or a price comparison website, you’ll need to have the following information to hand.

  • Your current supplier’s name
  • Tariff name and end date
  • Your supply type
  • Your energy usage
  • MPAN number (electricity) and MPRN number (for gas)

All this information will be stored on a recent bill. You may be able to switch without some of the finer details, but this data will make it simple for you to compare your old plan with the rest of the market.

If you don’t have a bill to hand, you can get hold of these details by contacting your energy supplier.

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