Business Energy

Smart Meters for Business

man in workshop looking at tablet

Smart meters keep track of the gas and electricity you use, so you can keep a handle on exactly how much energy you’re using, as well as how and when you’re using it. This can help you make your business more energy efficient.

Smart meters relay all this real-time usage information directly to your supplier, so you can be sure you’re billed accurately for the energy you use.

A real benefit of this new technology is that you can keep a closer eye on the amount you use, therefore lowering - or simply streamlining - the amount you spend on energy day-to-day.

Once you know exactly when you use most energy, you could consider moving on to a more appropriate tariff, such as the time of use tariff, a plan that charges you different amounts depending on when you use your energy.

What’s more, the benefits of smart meters aren’t limited to pricing. Problems with your service can be picked up recognised earlier, because of the more constant and accurate supply of information on your premises. As a business, this early diagnosis could make the difference between your business staying open or shutting down temporarily in the event of an energy issue.

Will your business benefit from a smart meter?

Smart meters can be a great way to control and monitor your energy costs. Here are some of the key benefits:

  • Your bills will be more accurate, saving you both money and hassle.

  • You can reduce your energy usage by identifying when you use the most energy, and spreading these times out.

  • Your supplier will be able to give you more tailored, personal energy-saving advice.

  • Having a smart meter installed at your business premise is completely free.

The estimated cost of the smart meter initiative is £7 billion, and this will be passed on to consumers via their energy bills. But, the increases are expected to be small, and by 2020 non-domestic customers should benefit from savings of around £100 a year on their energy bills.

How to switch to a business smart meter

Many business energy contracts run for between one and three years. During this time your unit prices will remain the same but you’ll be unable to switch to a new deal without having to pay a penalty. But, it’s worth weighing up the savings you could make against the cancellation fee, to see if you could save more in the long run by opting out early.

It’s important to check your contract end date. There will be a ‘switching window’ of between 30 days and four months in the run-up to the end of your contract - switching during this period will be easier and you won’t incur any cancellation fees.

It’s our business to help save you money. We can do this by helping you compare energy prices from a number of leading gas and electricity suppliers.

It’s a good idea to start by pulling together your current details, such as:

  • Where your business is based

  • Who your current business supplier is

  • Your supply type and your meter numbers. Your meter has unique registration numbers, a MPAN (meter point administration number for electricity meters) and a MPRN (meter point reference number for gas meters). You can find these on your bill or on the meter itself.

If you have your contract or a recent bill to hand, that’s a great start. In order to know what you can save, you need to know what you currently spend, so make a note of the current prices you’re paying. Then, we’ll search a range of energy providers to find deals from the leading commercial energy suppliers.

Here’s what you need to go to get a business energy smart meter installed at your premises:

  • Give your new supplier a call and request a smart meter to be fit at your business.

  • They’ll arrange an appointment for the engineer to visit your premises.

  • On the agreed date, an engineer will fit your meter. It usually takes about an hour to install each meter, and you’ll typically need separate meters for gas and electricity.

Remember that your new smart meter will be installed in the same place as your older meter, so make sure you clear the area before the engineer arrives.

If you're looking to save money on your business energy bills, get in touch with the business energy experts at Bionic on 0800 088 6986. Or leave your postcode in the box on the right and they'll give you a call back.