Business Electricity: Find a Better Rate Today
The vast majority of business in the UK, whether they’re big or small rely on electricity to keep functioning from day to day. This is something that can’t be ignored if you want to keep your business on track and running in the right way. Without the proper attention being paid to electricity rates, your business could end up being ripped off. That’s not what you want to happen, so maybe now is the time to make a switch.
To do that, you need to know how these tariffs and contracts work. You also need to know how to compare the different options out there. This is what will be covered in the information below. Read on now and make sure that you find the deal that is best for your business.
Business Gas Costs
Just like a with commercial plans, the price of your business electricity tariff has two components: the unit cost and a standing charge.
The electricity that your company uses is broken down into units. Each of those units has a price that is always the same. This is known as the unit cost, and it’s this that will make up the bulk of the cost that you pay to your supplier. You will need to compare the unit costs on offer to find the best deal.
On top of the unit cost, you will need to find out the various standing costs that are on offer from the main business electricity suppliers. The standing charge is used to cover the cost of transporting the electricity to you and maintaining the power grid.
Types of Tariff: Fixed Rate Fixed Term
Fixed-term contracts are among the most common you’ll find when you’re looking for business electricity. As the name suggests, the price you pay for the units you use is agreed in advance. This offers your business some security because you will know what you have to pay each month, and you won’t be surprised by increases. You are tied to this deal, though. So, you won’t be able to switch fast.
Types of Tariff: Deemed Rate
Deemed rate tariffs can also apply when you fail to renew your contract or arrange a new one after the previous one ends. You will have to pay more than usual. However, they can be escaped from if you give notice to the supplier.
Things to Look Out For
It’s always important to shop around when you are looking for a business electricity deal. There are so many options out there, and you won’t even know that you’re missing out if you don’t look what’s available.
Below, you will find a series of steps that need to be taken if you want to start comparing business electricity quotes and deciding which is best for you. Follow each of these steps if you want to find the solution that is right for your company.