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**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 that you provide. More T&Cs here.
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Commercial Electricity FAQ
What are commercial electricity contracts?
Commercial electricity contracts provide businesses across the UK with the electricity they need to function on a daily basis. Finding the right contract matters, as energy bills are a large component of a business’ total outgoings.
How do commercial electricity contracts differ to domestic ones?
If you own or manage a commercial property, you may find that it’s cheaper to use a commercial electric contract than a typical domestic electricity contract. Businesses tend to purchase energy in bulk, whereas domestic electricity is bought and sold on a month-to-month basis.
How long are commercial electricity contracts?
Commercial electricity contracts tend to be longer than domestic contracts. You should be aware that commercial suppliers don’t tend to allow two-week ‘cool-off’ periods for businesses on contracts, like domestic suppliers do. This requires businesses to be absolutely sure about a contract’s terms and conditions before signing.
Can I combine gas and electric with my commercial electricity contract?
Business energy contracts typically require separate quotes for gas and electricity, whereas domestic contracts offer gas and electricity together under a dual fuel deal, so be mindful of this when searching for new deals.
You may also find that you need to arrange for a bespoke deal for your business energy contract, rather than receive an existing quote based on a general price plan offered to other businesses. Domestic suppliers generally offer customers a pre-prepared range of tariffs, but commercial suppliers view each commercial contract differently.
How long will it take to switch to another commercial electricity supplier?
Switching your commercial supplier can take a number of weeks, depending on the supplier. Your old commercial supplier will liaise with your new commercial supplier, and the switchover date will be agreed, ensuring no disruption.
Switching between commercial suppliers is best done in advance of your current contract expiring, as you could be switched to a higher rate automatically. This would entail higher commercial electricity costs until you figure out a new arrangement.
How do I know when my commercial electricity contract expires?
Your current supplier will usually inform you of your contract’s impending expiry date. However, you may wish to make plans well in advance of this, to make sure you have the best possible chance of securing a good deal. Ultimately, switching requires an adequate amount of research to get the best quote.
What are fixed term contracts?
Fixed term contracts charge a fixed price per unit for a specific length of time, but the actual amount you must pay each month will fluctuate, depending on your consumption levels each month.
What are variable rate contracts?
Variable rate contracts follow market activity, meaning the cost of unit rates will fluctuate before taking your consumption levels into account.
What are deemed contracts?
Deemed rate contracts are the result of not arranging a new deal or finding a new commercial supplier once an old deal expires. As a result, you may end up paying a rolling, out-of-contract tariff rate, making it more expensive.
What are 28-day contracts?
28-day contracts are rolling contracts, typically used by businesses who haven’t switched providers since the deregulation of the energy market industry in the 1990s. The unit price can rise or fall from month to month based on market forces. The commercial electricity tariffs may be higher on these but you can easily switch, provided you give 28 days’ notice.
What are roll-over contracts?
Roll-over contracts, like deemed rate ones, are a fall-back option, when you don’t arrange a new deal before the end of your current contract. They generally result in higher rates.
Love Energy Savings £1,000 Cashback Guarantee – Terms & 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 that you provide to us. Where Love Energy Savings decide not to offer a lower priced plan, Love Energy Savings will pay £1,000 per customer. 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 Love Energy Savings can't beat the price you tell us and you'd like to claim the £1,000 promotion, we'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.
Love Energy Savings will review our offer and the competing offer from your existing supplier using information you provide to us such as your annual consumption as well as any additional costs or charges you'll 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 2 or 3-year term, Love Energy Savings will use the same annual consumption for each year.
The promotion is available to small and medium enterprises 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 Love Energy Savings can't beat the renewal offer, then Love Energy Savings send a £1,000 cheque made out to the business name within 28 days, following receipt of the written/email offer and of our declining to beat the offer from your existing supplier.