Running a business? How to sort your energy supply

Running a business isn’t easy. Running a profitable business – ensuring income exceeds outgoings by a comfortable margin – is downright difficult.

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Controlling costs is a major factor in building and maintaining a successful enterprise. And it’s hard to think of any business, no matter how small and no matter in which sector it operates, that isn’t an energy consumer.

Energy is expensive, so anything that can be done to bring down bills will be welcome in the battle to enhance the bottom line.

Freedom to switch

Business customers can switch energy suppliers in the same way as domestic consumers.

So if you can find a better deal on your gas and electricity, you could reduce your business overheads and boost profits.

Household names

The big six utility firms – British Gas, EDF, Eon, npower, Scottish Power and SSE – supply both commercial and residential customers. But don’t automatically stick with a household name as a smaller or less familiar company might offer a cheaper tariff.

It might also make sense to get your gas and electricity from two different suppliers, depending on the size and consumption figures for your business.

If you use both gas and electricity, you might be offered a ‘dual fuel’ discount for buying both types from the same firm. But don’t assume this combined price will be cheaper than buying gas from one provider and electricity from another. It always pays to check.

Different businesses have different needs so the energy company will usually tailor-make a quote for your firm.

“Most will also supply small, medium and large businesses. In other words, size should not be a barrier to switching”

Size doesn’t matter

Most will also supply small, medium and large businesses. In other words, size should not be a barrier to switching. 
You might even be assigned a dedicated account manager who can help to make the switching process easier.

Fixed price

Some business customers prefer fixed-term contracts. You might also choose to fix the unit price of your gas or electricity to protect against future increases. In addition, fixed tariffs can help a business to budget and contain its costs.

Billing options

Most energy suppliers offer a variety of billing options. The most suitable will again depend on your own preferences and your business needs. As always, make sure you understand all the costs involved and find out whether you could save money by opting for a different payment method.   

Make it cheaper

MoneySuperMarket has teamed up with Make it Cheaper to compare business energy prices. To get started, you will need the name of your current supplier and the date the contract expires, if applicable. Plus, it helps if you can give some idea of your energy consumption and the amount you spend on your energy bills. The service will also request details of your company, such as the size and postcode.

Switch off

Switching supplier is probably the best way to save money on your energy bills. But you can also help to reduce costs by lowering your consumption. Ask your energy company for advice and information – and remember to switch off the lights when you leave.

Please note: any rates or deals mentioned in this article were available at the time of writing. Click on a highlighted product and apply direct.

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