Electricity is one of the biggest expenditures for UK businesses. Switching can not only save you money, but also help you find a supplier that fits with your company ethos (such as one that considers their environmental impact) and discover better customer service than your current supplier.
Assured Energy are here to help you find a reliable supplier for a reasonable price. We pride ourselves on being open and transparent about cost, providing energy comparison with clarity. Fill out the quote form or call us on 0330 221 9899 to find out more.
What information will I need to make the switch?
All the information you need will be on your latest bill. You’ll need to know your current supplier, tariff end date, supply type, and how much energy you use.
How long does it take to switch?
The switchover will take up to three weeks, with the new supplier doing most of the running around. There is no loss to your electricity supply in that time.
What are my electricity rates based on?
Business electricity rates are cheaper than domestic, but are balanced out by a higher amount of VAT.
Electricity bills are the total of two charges:
Unit cost - The price for each unit of electricity (kWh) your business uses.
Standing charge - A daily fixed rate covering National Grid maintenance and transportation of electricity to your business.
Electricity rates are based primarily on business size and consumption, but there are other factors to consider:
- Business size and location
- Business usage
- How many sites your business has – you may want to consider a multi-site meter to help save time and money
- Business Credit Score – This gives you access to the best possible deals
- Contract length – the longer the contract, the better the price
- The wholesale electricity market
If you run a large company or have high energy demand, you might be charged for electricity per half-hour, or have multiple meters installed for more accurate readings.
Are there any extra costs?
There are some additional smaller charges to take into consideration when choosing your supplier, including meter costs and transmission charges.
VAT on electricity is usually charged at 20%, but businesses that use less than 33 kilowatt hours per day can pay a reduced rate of 5%.
Climate Change Levy (CCL)
The Climate Change Levy is an environmental tax on electricity and gas services.
Businesses that pay the standard VAT rate (20%) will usually pay the CCL. Businesses that pay the reduced VAT rate (5%) don't pay the CCL.
Are there environmentally friendly options?
Some electricity companies supply their electricity from renewable sources – solar, wind, geothermal heat, etc. Choosing one of these companies would be a fantastic way to show that your business cares about the planet.
Look for a green tariff - the supplier will give an equivalent of your energy usage in renewable energy back to the National Grid.
Some suppliers will also help you to lower your electricity bills, giving you advice on reducing consumption in the workplace.
Find out how much you could save
You can fill in our form to view different electricity prices and get an instant quote - or for more information give us a call on 0330 221 9899.Get a quote now
Our quick quotation form asks you some straightforward questions to give you an idea of how much you could save.