Business Energy Solutions
Business Energy Solutions
There are a whole host of business energy solutions out there on the market and things can get pretty complicated. With consumer energy you just use an online comparison website, pick the cheapest and sign up. With business electricity it gets a little more complicated. No business is the same, and as such, no business energy quote is the same either. Energy prices vary on a number of factors and companies charge different rates for unit price and standing charge. With so many suppliers out there and so many different tariffs available, it can get quite complicated to compare deals and find the best electricity rates for your business.
While it might sound like a bit of a hassle to change suppliers, it really is beneficial for your business. Changing business electricity providers is one of the quickest ways to save money. If you’ve been with the same supplier for a number of years, you might have noticed your prices slowly increasing. You’re probably paying far more than you need to for your electricity and by switching providers you can reduce costs and redirect that money to more important things.
We’ve outlined the basics of what business energy solutions are available below.
What are the best business electricity tariffs?
Fixed Procurement – offers you price protection throughout the duration of your contract. It’s a one-off fixed price meaning there’s no risk. Market prices can be volatile, prices quickly go up and down and can end up costing your business if you’re not careful. Fixed Procurement protects your business from a volatile market where electricity prices are constantly changing.
Flexible Procurement – buy as much or as little energy as you want at any given period. This means you can make wise electricity purchases whenever the market is favourable. This procurement type weighs risk/reward and can be adapted during the contract to remain relevant in the market.
Basket Procurement – pool the bulk buying power of a group of businesses to obtain competitive prices, saving money and taking advantage of economies of scale. Most electricity brokers and suppliers won’t consider a business unless they use over 10 million kWh.
There are also two main variations with business electricity tariffs;
Unit Rate: the price you pay for the amount of electricity you use and is given in pence per kWh. This is the bulk of what you pay for electricity.
Standing Charge: the price you pay for your business to have access to electricity and is priced in pence per day.
The unit rate is the charge that will have the most significant impact on the cost of your electricity bill, but the standing charge is important too.
How can Midshire Telecom Help?
When it comes to comparing the different tariffs to find the best one, there’s a lot of suppliers out there to compare – which is where it gets complicated. Trawling through different suppliers websites, waiting on hold, compiling and comparing lots of quotes… switching to a better deal doesn’t have to be like this.
Switching business energy providers can be easier than ever with Midshire Energy. Midshire Telecom’s Energy team are experts at comparing business electricity tariffs and finding the best one for your business.
Our experts work with you to identify the type of energy procurement that best suits your business and will compare a variety of suppliers to get you the best tariff available – ensuring your business saves time and money when renewing energy contracts.
Speak to an Expert 03332 413 433