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Save up to 45% on business energy rates
Average savings of £1,067 per year for businesses
At Switcheroo, we compare energy plans from multiple different business energy providers, offering a comprehensive range of options to suit your company’s needs.
Of course we include familiar names from the ‘Big Six’ energy providers, ensuring you have access to trusted and reliable services. Additionally, we feature a variety of smaller, independent companies that might provide exceptional deals on both gas and electricity for your business.
Businesses typically consume more energy than domestic properties, with large businesses using even more. Even small variations in the price per unit can significantly impact overall costs, especially for larger or energy-intensive companies. This impact is compounded if you’ve been placed on your business energy supplier’s out-of-contract rates, which are often their most expensive.
Between 2021 and 2022, wholesale energy prices skyrocketed. The Federation of Small Businesses (FSB) reported that, between February 2021 and August 2022, business electricity bills surged by 349% and business gas bills by 424%. This increase reflects how energy suppliers are raising their contract rates to cover their escalating costs.
Although energy prices fell considerably throughout 2023, there is no price cap on business energy. Therefore, it remains crucial to compare business energy quotes and secure fixed rates to avoid those expensive out-of-contract rates. Failing to arrange a new contract when your current one expires can lead to unnecessary costs for gas and electricity.
Switcheroo simplifies the process of finding a more affordable business energy tariff. Our business energy comparison service takes the hassle out of your hands, providing quotes from a wide range of trusted business energy suppliers. We help you find a contract that fits your business needs, ensuring you get the best deal and avoid paying more than necessary for your business energy consumption.
Fixed Rate Tariff
A fixed-rate tariff is among the most sought-after business energy deals. With this option, you agree to a fixed unit price for both business gas and electricity with your chosen business energy supplier. This fixed price can be locked in for a period ranging from 1 to 5 years. However, fluctuations in wholesale market prices might lead business energy suppliers to offer shorter-term agreements.
Variable Rate Tariff
Variable rate tariffs are a flexible option for businesses. The price you pay per unit for business gas and electricity will vary with current wholesale market prices. This can lead to cost savings when prices drop, but it also means your business energy costs could increase if prices rise. For businesses that can handle these fluctuations, a variable rate tariff offers the potential to adjust with the market.
Green Tariffs
For businesses aiming to reduce their carbon footprint, a green tariff is an appealing option. In recent years, more renewable business energy suppliers have entered the market. Many commercial energy suppliers now offer green tariffs as standard, making it worthwhile to shop around for a business energy contract that aligns with your sustainability goals.
Out of Contract
If you don’t secure a new business energy deal before your contract ends, you could be placed on an out-of-contract tariff. These are typically the most expensive business energy rates offered by suppliers. It’s wise to avoid this situation to prevent unnecessary costs for your business!
When you compare business energy suppliers, it’s important to note that they usually do not offer dual fuel deals. This means you will likely need to arrange separate tariffs for business gas and electricity. While managing different suppliers for each energy type might seem inconvenient, it actually gives you the chance to secure better deals by selecting the most competitive supplier for each.
Understanding how business energy prices are calculated is essential for identifying a good deal. Various factors influence these prices, including your company’s size, location, and meter type. Larger premises with more employees naturally consume more energy, leading to higher bills. Additionally, business energy rates can differ significantly by region, so a company in London might pay different rates compared to one in Scotland.
The type of meter your business uses also impacts your costs. For instance, an Economy 7 meter charges different rates depending on the time of day, which can be beneficial for businesses with specific operating hours. A nightclub, for example, could take advantage of off-peak rates that a standard 9-5 office wouldn’t typically benefit from.
Before you start to compare business energy options, it’s crucial to determine which type of tariff best suits your business needs. By understanding these key factors, you can make informed decisions and potentially find more cost-effective solutions for your energy consumption with Switcheroo.
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Switching your business energy supplier is straightforward with Switcheroo. You can change suppliers when your contract enters the ‘switching window’, typically between one and six months before its end date. Since this time period can vary, be sure to check your contract details. Once you’re in the switching window, it’s crucial to run a business energy comparison to have your next business energy tariff ready to go when your current contract ends. This helps you avoid being placed on costly out-of-contract rates.
To make the switch, simply provide us with a few details. Ideally, we’ll need to know:
If you allow us, we can retrieve the necessary information using just your business name and postcode.
Once you’ve provided the required information, we’ll search the market. One of our business energy experts will give you a quick call at your convenience to discuss the available tariffs based on your needs. After you’ve chosen the best option for your business, Switcheroo will handle all the details and arrange for the switch to take place seamlessly.
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“As someone who values efficiency and strategic decision-making, I can’t stress enough how important it is for businesses to stay on top of their energy costs. Our platform streamlines the process, making it easier than ever to secure the best deals tailored to your business needs. This smart move not only reduces overheads but also ensures a consistent and cost-effective energy supply.”
Understanding the cost of energy is crucial for businesses of all sizes. Below is a consolidated table that outlines the latest electricity and gas unit prices along with the corresponding annual costs based on business size. This information helps businesses budget effectively and explore potential savings.
| Business Size | Annual Usage (kWH) | Electricity Unit Price per kWH | Gas Unit Price per kWh | Electricity Annual Cost | Gas Annual Cost |
|---|---|---|---|---|---|
| Micro Business | Up to 5,000 | 24.7p | 8.6p | £888.41 | £346.87 |
| Small Business | Up to 15,000 | 25.2p | 7.6p | £2,786.31 | £933.62 |
| Medium Business | Up to 25,000 | 25.2p | 7.6p | £5,350.29 | £1,683.39 |
| Large Business | Up to 50,000 | 25.9p | 7.6p | £10,204.86 | £3,049.84 |
| Extra Large Business | Up to 100,000 | 25.4p | 6.8p | £19,580.10 | £5,693.69 |
Ways to Optimise Your Business Energy Usage:
Compare Business Energy Quotes and Switch Suppliers – If you’ve been on the same business energy tariff for years, you might be paying more than necessary. A simple switch could lead to significant savings with minimal effort. Even if you’re on a good rate, it’s worth checking the market to see what other business energy deals are available.
Install Technology to Improve Your Business’s Energy Efficiency – Consider installing energy-saving devices for your business. For instance, lights with motion sensors only activate when needed, reducing unnecessary energy consumption. When purchasing new equipment, evaluate its energy efficiency to make informed decisions that can lower your business energy costs.
Introduce Energy-Efficient Workplace Habits – Train your employees to adopt energy-saving practices. Simple actions, like turning off computers and printers instead of leaving them in sleep mode, can reduce your overall business energy consumption.
Run a Business Energy Audit – Conducting an energy audit helps you identify where your business uses the most energy and where it might be wasting it. This can lead to practical improvements, such as switching to energy-efficient LED bulbs, which can lower your business energy bills.
Get a Smart Meter Installed – Ask your business energy provider about installing a smart meter at your premises. A smart meter allows you to track your company’s energy usage more closely, helping you manage and potentially reduce your consumption.
Having the right information on hand when you come to switch business energy providers is essential for receiving an accurate quote. But there are other important factors to consider as well. For a seamless switching process, whether you’re just reviewing the latest business energy rates or ready to make a change, follow these steps:
1. Terminate Your Contract
Business energy price comparison online has never been easier. Once you’ve found the right tariff, you’ll need to terminate your current contract. Remember, business gas and electricity must be switched separately—it’s a good idea to handle your commercial energy comparison all at once. Locking in your contracts for the same duration will save you time in the future.
If you don’t terminate your contract, many commercial energy suppliers will automatically place you on expensive out-of-contract rates. Providers are not always diligent about sending renewal notices (unless you’re classed as a micro-business).
2. Locate Meter Registration Numbers
When you compare business energy quotes, having your Meter Point Reference Number (MPRN) and Meter Point Administration Number (MPAN) handy will ensure you get accurate rates based on actual usage.
These numbers can be found on a recent energy bill. If you don’t have them on hand, our intelligent comparison engine can often retrieve them for you.
3. Gather Your Company Information
You’ll need some basic company information so our business energy experts can find you the best deal. Switching can be completed entirely online at a time that suits you, or our team is just a phone call away if you need assistance.
Typically, we’ll need the following information:
4. Switch with Confidence
There’s no obligation to switch business energy providers with us. We want you to find the right deal for your business. If you decide to switch with us, you can sit back and relax while we handle the process for you.
5. Rates Change Every Day
The energy market can be highly volatile, with multiple factors impacting the price you pay for your energy. Here’s why your commercial energy contract might cost more or less:
Size of Your Business: Larger businesses pay more annually due to higher energy consumption but benefit from discounted unit rates. Smaller businesses with lower consumption pay higher unit rates.
Your Energy Tariff: Different tariffs have varying price models—for example, Economy 7/10 (cheaper rates at night), no standing charge tariffs, and green energy tariffs all have different rates. Each has its benefits depending on your company’s energy use.
Energy Suppliers: While generally guided by wholesale market prices, different business energy suppliers have their own pricing models, making some more expensive than others.
Wholesale Market Prices: The wholesale market is constantly changing, influenced by significant world events, weather, and other factors, which affect suppliers’ pricing models.
Comparing business energy tariffs and suppliers is similar regardless of the size of your company. However, there are a couple of key differences. One major distinction is that business energy rates tend to be higher for small businesses than for larger companies, as running large-scale operations often comes with certain cost advantages.
It’s not all bad news, though. If you have a very small business, you might be exempt from the CCL (Climate Change Levy), which could help lower your business energy bills.
Compare small business energy rates here.
Key Differences Between Domestic and Business Energy:
Business Energy Tariffs Typically Charge Less Per Unit – Because businesses tend to consume much more energy than homes, business energy deals generally offer lower unit rates. It’s similar to receiving a discount for bulk purchasing.
Switching Business Energy Tariffs Is Limited to the Switching Window – Unlike domestic energy tariffs, which can be switched anytime (subject to exit fees), business energy can only be switched during the renewal window. This period usually falls between one and six months before your contract ends.
The Market Functions Differently – For domestic energy, you can select from tariffs available across the market. However, for business energy, you’ll need to obtain a bespoke quote from business energy suppliers. This is because businesses use energy differently than homes, and their usage can vary significantly based on the size, type, and location of the business.
Dual fuel tariffs are for domestic customers only. Businesses must switch their gas and electricity separately.
Businesses can have the same supplier for both fuels, but they must be switched separately. You may be able to negotiate a better energy deal with the supplier if you decide to have a contract for both gas & electricity.
The Climate Change Levy (CCL) is an environmental tax applied to the business energy your company uses. Its purpose is to encourage businesses to enhance energy efficiency and reduce carbon emissions.
Charities are exempt from paying the CCL, and your business may also be excluded if your business energy usage falls below the minimum threshold. Your business energy supplier is responsible for ensuring that you pay the correct CCL rate, which you can find detailed on your business energy bill.
Your business credit score can significantly impact the business energy suppliers available to you, as well as the type of tariff and unit rates you can access.
A credit rating scores your business on a scale of 1-100, with higher scores indicating stronger financial stability. Businesses with a score of 40 or more are typically eligible for cheaper business energy deals.
Your credit score is calculated based on several factors, including:
A lower credit rating can limit your options when you compare business energy suppliers. Some suppliers may not accept businesses with low credit scores, while others might restrict the tariff options available to you.
Business energy suppliers who do accept businesses with lower credit scores may impose additional conditions, such as:
If you don’t renew or renegotiate your business energy deal during the renewal period—at the end of your business energy contract—you will be automatically rolled over into a new contract. Energy suppliers impose these contracts without your consent, which means your company could be locked into an expensive renewal tariff for at least a year.
At least two months before your current contract ends, your business energy supplier will contact you to inform you that a rollover contract will begin if no action is taken.
If you haven’t negotiated a new tariff, you’ll likely be placed on a monthly rolling contract or a deemed rates contract. These rates are typically much more expensive than negotiated rates.
The good news is that you can switch at any time with no exit fees. So, if you find your business energy contract has rolled over, you can compare business energy prices and start your switch today.
You may be aware that once you enter a business energy contract, you typically cannot terminate it early. However, moving premises presents a rare opportunity to end your contract ahead of time.
That said, it’s crucial to assess your options carefully. Moving doesn’t automatically mean you should switch business energy suppliers. You should compare business energy prices to determine if you can secure a cheaper deal at your new location.
Alternatively, you can transfer your existing business energy contract to your new premises. When considering this option, it’s important to remember that moving into larger premises will likely increase your energy usage, so factor that into your decision.
As soon as you enter your new business premises with the keys, take an immediate meter reading for both business gas and electricity. Overlooking this step can lead to costly mistakes. Here are some common issues that relocating businesses encounter:
Existing Premises: Ensure that the building is still connected to the national grid. Disconnection can occur if previous tenants fell into energy debt, leading to potential reconnection fees. Operating without business gas or electricity until reconnection could severely disrupt your operations and revenue.
New Buildings: Check whether the building has been connected to the main grid. There’s often a significant connection fee, so it’s essential to verify this upfront to avoid any unexpected costs.
If you run a large business or an energy-intensive operation, your business energy demands will differ significantly from those of smaller companies. That’s why we have a team dedicated to finding the best business energy deals for businesses that consume more than 200,000 kWh of business gas or 55,000 kWh of business electricity each year.
If your business has a maximum demand of 100kW or greater in any half-hour period, then by law, you must have a half-hourly meter installed. For businesses with a maximum demand of 70kW or more, you can also opt to have a half-hourly electric meter installed. If you have any questions about large business energy requirements, give us a call on 0800 188 4930.
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