Electricity

As a small or medium business, choosing the right electricity supplier can have a huge impact on your bottom line.

Although there are more energy providers on the market - offering more tariffs and more ways to pay - it’s actually more difficult to find the right deals.

When it comes to choosing your electricity supply, there’s a few things you’ll need to consider. Firstly, let’s take a look at how suppliers charge for the energy they provide.

A supplier’s “rate” is typically made up of two costs:

Unit cost - The price you pay for each unit of electricity (measured in kWh) your business uses in an hour.

Standing charge - A daily charge that covers the maintenance of the national grid, and the cost of transporting electricity direct to your business premises.

Although rates vary by supplier, most offer the below contract types:

Fixed - Your business pays a “fixed” rate for the duration of the contract. The costs mentioned above will remain the same, and you pay for what you use.

Variable - Your business pays a “variable” rate for the duration of the contract. The costs mentioned above rise and fall depending on the wider energy market, and you pay for what you use.

Choosing the right one will save your business money.

Want to know how much you could save by switching?

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