Compare Business Energy Prices
- Compare 21 major SME business energy suppliers and over 150 energy tariffs to find the cheapest deal for your business.
- Renewing your energy contract with us could save your business an average of 40% on bills. See how much you could save.
- Start saving and get started on your energy quote below:
- Click here for more information on the £1,000 Renewal Quote Guarantee
Love Energy Savings Initial Renewal Quote Challenge: Terms and Conditions:
- Love Energy Savings aim to beat the forecast annual cost of any 1, 2 or 3 year fixed electricity or gas initial renewal offer, based on your annual consumption which you provide to us. Where they decide not to offer a lower priced plan, they'll pay £1,000 per fuel, per site. The promotion is open to new and existing customers who are small or medium enterprises and excludes any other promotion offered by a competing supplier, e.g. cashback. Your energy tariff or fixed price contract must be in the renewal window. If they can't beat the price you tell us and you would like to claim the £1,000 promotion they'll need to see the competing initial renewal offer either in writing or by email issued by your existing supplier. The contract start date must be within 120 days of the date on the renewal letter or email.
- They'll review our offer and the competing offer from your existing supplier using information you provide to them such as your annual consumption as well as any additional costs or charges you will pay in the competing offer over the contract period, e.g. distribution/transportation, VAT, Climate Change Levy (CCL) or CCL equivalent charge and government environmental charges or costs. If the competing offer is for a two or three year term, they'll use the same annual consumption for each year.
- The promotion is available to small and medium enterprises (Love Energy Savings Limited) with less than 10 non-half hourly electricity or non-daily metered gas sites who use less than 1,000,000kWh of electricity or 1,500,000kWh of gas per year. Alternative offers through third party intermediaries are not eligible for this promotion. Any offer of a contract is subject to a credit check. If they can't beat the renewal offer then they will send a £1,000 cheque made out to the business name within 28 days, following receipt of the written/email offer and of their declining to beat the offer from your existing supplier.
FAQ: Saving money on your business energy bills
- The tariffs and processes for commercial energy differ from those in the domestic market.
- According to the Competition and Markets Authority, a lack of competition in the market between 2009-2013 meant that most business could have saved 14% on their business energy bills - a trend that continues today.
- Discovering more about how to compare and switch providers can save businesses a significant amount on their overall energy expenditure, allowing them to focus their resources and funds onother aspects of running their company.
- Business energy suppliers offer both fixed, and variable tariffs. Companies also have the choice ofwhether or not to combine combine their energy and gas needs, or shop with different suppliers.
Can I Save Money on My Business Energy Bills?
From marketing to materials and wages, there's always plenty to pay for in a business. Since electricity and gas are essential to operations, they are an unavoidable expense. However, that doesn't mean that you can't reduce the amount you spend on your energy by making smart choices.
Simply switching suppliers can be enough to save you a great deal on your energy bills, but it's important to make an informed decision about which providers to use, and which deals best suit your business needs. That's why we've partnered with Love Energy Savings to give you a rundown of your choices.
How Are Business Energy Suppliers Different to Domestic Suppliers?
Some household gas and electricity suppliers also offer commercial energy tariffs, but the two are quite different.
Business contracts tend to be longer and often last up to three years. There are also different levels of contracts and terms and conditions attached that differ not only between consumer and business contracts, but also between different sizes of companies.
For example, Ofgem recently introduced new rules governing energy contracts for micro businesses. From April 30th 2015, the maximum notice period for terminating a micro commercial energy contract has been reduced from 90 days to 30 days. Suppliers are also now required to tell the smaller firms on their books how much energy they are using each year and give them details of the costs from their original contract in comparison to any newly available tariffs.
What About Green Energy?
It’s no secret that traditional energy generation - through the use of coal or oil, for example - is bad for our environment and ecosystems. Green energy, however, can mitigate the damage by using sustainable sources of energy like solar, wind and water.
As consumers become increasingly aware of the need to lower greenhouse gases and reduce our global dependence on fossil fuels, they’re looking for companies that share their ‘green vision’.
Business energy suppliers have stepped up to help companies lower their carbon footprint and tick the green box of approval in this area. Keep an eye out for these suppliers when comparing business energy tariffs; there are a lot of out there and even if you don’t go with a purely green supplier, even small things can help lower your company’s carbon footprint such as choosing a supplier that has made a commitment to planting trees or using paperless billing.
What are the Different Types of Business Energy Tariff Available?
When it comes to business energy, there are two major forms of tariff used: fixed and variable. Different businesses have different requirements when it comes to energy depending on their size, function, hours of operation, and, ultimately, energy use.
The right tariff for your company will depend on how much energy you use within your business, as well as how you want to pay for that energy. Remember to think carefully about the unique needs of your business when comparing available deals.
What are Fixed Tariffs and How Do They Work?
Fixed rate tariffs are a type of payment plan that allow companies to set their energy bill at a specific fixed rate. In other words, the price you pay for your energy will not change over the period for which your tariff is in place. This is particularly beneficial for businesses who need to think carefully about maintaining their budget, as it protects them from the fluctuations in energy prices.
The main problem with fixed tariffs is the fact that you will be locked into your contract for the agreed duration - meaning that you can't simply switch out if you see a better deal or notice energy prices going down.
What are Variable Tariffs and How Do They Work?
Variable tariffs frequently offer companies the chance to access cheaper rates for their energy at the time when they set their agreement. However, these specific contracts don't give businesses the level of protection that is offered by fixed tariffs - so if energy prices rise, your bills can start to rise with them. In other words, the amount you pay may change depending on fluctuations in the energy market.
A variable tariff means risking the chance that you might have to pay more in the long term, to give yourself more freedom over the course of your contract and the chance to access lower prices should the market go down. Variable tariffs also include two types of agreement:
- Price tracker tariffs which change according to the adaptations of wholesale market movements.
- Blend and extend tariffs which use a unit rate that is made up of an average between the current market rate, and your current contractual rate.
What Kind of Rates Should I Expect?
It's fair to say that the rates you can expect to pay will vary depending on the tariffs and deals available when you start your search and, of course, your company’s energy requirements. However, it's also worth noting that the majority of energy suppliers you approach will require that your business has a minimum credit rating - meaning the better your score is, the more scope you will have to compare energy prices. The other variables that might determine how high or low your rates are for energy include:
- The type of business that you run: Ltd company or sole trader for example
- Your geographical location (postcode)
- The sector your business is in: Manufacturing, retail, construction, etc.
- The annual energy consumption of your business
How Do I Switch My Business Tariff?
Despite the obvious benefits associated with switching from an expensive energy provider to one that is capable of offering your business a better deal, most companies end up putting off the decision to make a switch. According to the Federation of Small Businesses, around 70% of firms will experience difficulty comparing energy tariffs, while 43% have chosen never to switch at all. However, changing your tariff or supplier doesn't have to be a complicated experience.
First of all, you'll need to know when your existing contract is going to expire. Most suppliers will send your business a renewal letter that details the prices that they intend to charge for your energy use. This will give you the indication that it's time to decide whether you want to renew at the suggested rate, or attempt to save money by comparing suppliers and choosing a new contract.
If you do decide to switch, then a great place to start your search for a new provider is with a comparison tool, like that offered by Love Energy Savings and Know Your Money to help you examine all of the information that matters most in a clean and organised format.
Does it Take a Long Time to Switch?
The length of time it takes to switch will depend on when your current contract is due to end, the energy supplier you have chosen to go ahead with, and the supplier that you have chosen to leave.
Many business energy suppliers have longer notice periods than consumer energy providers (unless you fall into the micro business category) so if you’re considering switching it’s worth putting the wheels in motion as early as possible.
How Do I Determine the Best Tariff?
It's not enough to simply decide you want to switch your tariff or energy supplier - you also need to figure out which deal is the most suitable for you. Most of the time, this doesn't mean just tracking down the lowest price - but also ensuring that the price allows you the energy usage that you need to keep your business running.
Comparing the best deals using Love Energy Savings comparison engine will help you to establish which offers are most applicable to your unique circumstances and their friendly energy experts will be on hand to answer any questions you may have.
How Much Should I Pay for Business Energy?
While the answer to this question will depend somewhat on your company’s annual energy usage, some industry experts suggest that there is a formula that can be applied:
- If you're paying more than 25p per kWh (kilowatt-hour) for your business electric, you're in one of the higher paying bands.
- If you pay anything more than 5p per kWh (kilowatt-hour) for your business gas, then you might need to start shopping around for lower gas tariffs
Are Their Energy Rules for Landlords and Property Developers?
From the first of April in 2018, private landlords will need to ensure that all properties maintain a minimum energy efficiency band of E or above. In other words, if your business involves renting office space to other people, it's worth ensuring that the energy suppliers you partner with can maintain a certain level of energy efficiency for you and your consumers.
These regulations may also be worth considering when you are determining the tariff length of your new energy contract for your own office space or business location.
How Can My Business Reduce Its Energy Bills?
The first step towards reducing business energy bills is to look at switching to a less expensive energy provider or tariff. After that, consider some of the following tips to keep usage and costs down:
- Creating a policy to monitor whether lights and other applications are left on overnight
- Using energy-saving bulbs and electronics
- Asking staff to take steps towards reducing their energy usage in the office
- Being aware of open doorways, draughts, and other energy-sapping problems
Cutting Your Business Utilities with Love Energy Savings
Why Choose Love Energy for your Business Energy Deals?
With a team of energy experts on hand to advise you on the ins and outs of the energy market and find you the best business energy deals, it’s easy to switch with Love Energy Savings.
Minimal information is required to get things moving and their experienced team can take care of everything, from choosing the tariff, to handling the switchover process between your old and new suppliers and from then on until your next renewal date.
The 3 Step Love Energy Process
Love Energy Savings’ business energy price comparison engine takes simplicity to the next level when it comes to finding the best business energy deal, so much so that they've got things down to three simple steps.
OK so you do have to do a little bit of work yourself, but we promise the Love Energy Savings guys have kept it to a bare minimum. The team will need your postcode and your current supplier. If you can provide more information, the Love Energy consultants will be more than happy to work with your detailed requirements, tailoring their search to find you the best deal they can.
Any data you do provide is of course treated and held in the utmost confidence, but you don't even have to provide your name or the name of your company if you don't want to!
Now it's time for the Love Energy Savings engine to kick into gear. The company's state-of-the-art commercial electricity price comparison engine works with the information provided to generate a list of the deals available.
Comparing 150 tariffs from 19 different suppliers in seconds, this super-fast process means that you will be able to see available prices and potential savings almost instantly.
Once you've had a chance to review the tariffs on offer, it's time to make your choice. If you choose to switch and save money, Love Energy Savings will be there to handle the switchover for you, liaising between your current and new suppliers.
And that's it! Three simple stages to switch, saving you time and money, without any unnecessary hassle.This comparison service is provided by Love Energy Savings who are a member of the TPI Code of Practice.