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Cheapest Energy Providers for Business

How can you find the cheapest business energy provider? It’s not as simple as just going for the one who claims to have the cheapest rate on the market. You'll need to make your rate comparison on energy deals as personalised as possible. It is also important to note that energy suppliers frequently change their rates depending on the market situation, weather conditions which can affect energy production, and government regulations.

Energy Tariff Factors

Before you start shopping for the cheapest energy providers for your business, it’s best to know that energy tariffs are set in connection with a number of factors: global shortages, logistics, government regulations and weather conditions. It is a volatile market and you'll need to constantly check and compare prices set by different providers in order to get the best prices. It is worth noting that energy providers often buy gas many years in advance to be in control of price fluctuations.

Looking Beyond the Average User Experience

Most energy suppliers claim to offer the cheapest rates based on the average user experience. Unfortunately, not every user is an average user. You have to look beyond the prices set on this basis, as your choice of the cheapest provider should be based on the nature of your business, your location and how much energy your business uses in a given time period. Rates will vary depending on your location—some affordable plans might not even be available in your area.

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Consider the Small Energy Providers

You might feel hesitant about switching from the Big Six (EDF, E.ON, nPower, SSE, Scottish Power and British Gas) for fear that smaller energy providers might not be able to offer reliable services. However, a study conducted by uSwitch in April 2013 shows that around 56% of those using the contracted services of the big six are willing to switch to smaller energy providers. If you want the cheapest energy provider, it will be useful to include small providers in your search.

The table below shows the cheapest dual fuel tariffs available at present. The costs are based on 3,300 kWh usage of electricity and 16,500 kWh of gas per year. Note that some of the lowest tariffs are offered by smaller energy providers.

Fixed Prices

Although the energy market is very volatile, there are plans designed to help customers handle fluctuating prices. You can opt for a fixed premium energy plan. This means you'll be paying the same tariff even if prices go up. Such a plan can help you save a lot for the future. You can also find fixed price plans without cancellation fees so you don't have to worry if you decide to switch in the future.

Summary

The cheapest is not always the best choice but going for companies who offer reasonable rates with fantastic customer services is a wise move. Depending on your needs and budget, finding the right energy provider can provide you with savings in terms of time and money and it all starts by shopping around and doing your research.

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