Business Electricity Prices

How to compare business electricity prices

We will help you compare business electricity rates to find great deals for your company. We compare prices from many well-known suppliers.

To compare, you’ll need to know:

Your yearly electricity costs
Your annual energy usage (in kilowatt hours or kWh)
Your standing charges and energy costs per unit (found on your bill)
Whether you’re in or out of contract
If in contract, when your contract ends.

Energy costs are a big expense, so it’s smart to check the latest deals when your contract is up for renewal. We’ll help answer your questions about comparing and switching business electricity suppliers.

How To Compare Business Electricity Rates & Switch

Compare
All we need is your postcode. We’ll find your meter and usage to show you the latest prices.

Select your supplier
Select the right tariff for your needs. You can even stay with your current electricity supplier.

Protect your bills
We’ll complete your switch within 5 working days. You can even do it all online or speak to our expert team.

Should You Switch Business Electricity?

Business electricity rates are now much more competitive, dropping by 62% since October 2022.

Because of this, many businesses are locking in their electricity rates for future certainty and stability.

When you compare business electricity prices with us, you can see live rates from trusted suppliers. Secure your new tariff today.

Why Choose Us?

There are many reasons to use our comparison service over any other. When switching with us, you have the unique option of completing your business electricity switch fully online. You can secure your new deal without the need for a 40-minute phone call.

If you’d prefer to speak with one of our business electricity experts, you can do that instead. The option is entirely yours!

Compare and Save

Commercial Electricity Rates for Large Businesses

We offer custom quotes for large businesses looking to switch electricity. This includes both single-site companies and multi-site businesses with one simple bill.

By switching with MYENERGYQUOTE, you can find an electricity solution that fits your needs. Get a custom commercial electricity quote from our trusted suppliers.

Business Electricity Rates for SME Businesses

We find business electricity quotes for small and medium-sized businesses across the UK. Our goal is to make comparing rates easy.

With our online service, you can compare business electricity rates anytime. Start today and find the best deal for your business.

Business Electricity Rates by Business Size 2024

Many factors can affect business electricity prices, like your location, usage, and business size.

To help you when switching, we’ve shared the average electricity prices by business size. These prices are based on a 2-year fixed rate deal.

 

Data correct as of July 2024. Annual cost based on a 2-year contract and the median kWh usage within each business size banding. These prices reflect a live market and are subject to fluctuation.

Business Electricity Prices per kWh

Kilowatt hour (kWh) prices are key to how suppliers charge you. This unit measures your electricity usage. The cost depends on factors unique to your business.

The cheapest supplier for one business might not be the cheapest for another. With Love Energy Savings, you can quickly and easily compare business electricity prices from many trusted suppliers.

Is the Cost of Business Electricity Getting Cheaper?

The cost of business electricity has been a big concern in 2022 and 2023. However, electricity unit rates have been going down steadily.

We compared the three cheapest business electricity tariffs for each of the past three months, from the 2022/23 financial year to 2023/24. The prices dropped from over 75p per kWh in November 2022 to 22.95p per kWh in July 2024. Predictions suggest that prices will stay around this level, but they can still change quickly as seen in the past.

How to Compare Competitive Business Electricity Rates

Comparing business electricity rates is easy, but the market changes often. Without the right information, your quote might be higher.

Here are some helpful things to know:
• A recent business electricity bill
• Your electricity usage for at least 1 year
• Your meter type (smart, traditional, half-hourly)
• Business information
• Your current electricity supplier

Business Electricity Renewals

Businesses might end up paying too much for electricity if they don’t renew their contract in time.
When your contract ends, it’s easy to let it roll over. But rolling over to a standard rate can be more expensive than getting a new deal.
Act quickly when renewing your electricity contract. Your supplier will usually send a renewal letter a few months before your contract ends. This is the best time to compare prices.
At Love Energy Savings, we make comparing business electricity prices simple. You can see the latest deals in just 30 seconds. Once you find the right deal, you can switch online or talk to our expert team.

Who Are the Big Six Suppliers?

It’s a good idea to compare business electricity rates from the Big Six suppliers, but they can sometimes be more expensive. We recommend checking rates from many suppliers.

The Big Six are traditionally the largest energy suppliers in the UK. The current Big Six are:

British Gas
Ovo Energy (SSE still offers business electricity)
E.ON
EDF Energy
nPower Business Solutions, powered by E.ON
Scottish Power

How to Find the Cheapest Business Electricity Rates
The cheapest business electricity rates can change every day. While wholesale prices affect costs, suppliers set their own prices based on various factors.

To find the cheapest rates, use our comparison tool. You can see the best deals from trusted suppliers. Remember, these prices are only fixed for a limited time because rates and tariffs change frequently.