The “best” electricity company is rare to find in the UK. It all depends on your business energy usage and preferences. It is possible that the one company that is best for you is not perfect for the other business.
But there are some points, by considering those, you can save on your energy bills. For example, the tariff price will increase by 1.2% from January 2025, and most businesses are still on variable charges with their business electric supply. Now if you consider this then the savings will be significant for the high energy usage business.
Why Should You Switch?
Switching energy suppliers was an effective way to save on energy bills before 2021, but inflation has made this less beneficial. However, as the market stabilises and more commercial energy providers enter with competitive prices, businesses now have an opportunity to search for the cheapest electricity supplier.
For businesses, the electric supplier is not only a utility provider; they are relying too much on them. They need 24/7 customer support to run their company seamlessly. Other than the price cap, services are the reason businesses switch. There may be options that your energy providers are charging you more for green energy or standard charges.
How to Find the Best Electricity Company?
As we told there is not any best electricity supplier in the UK, but you can find an electricity supplier that is perfect for you. For that, you have to consider some factors that can help you.
Break Down Bill
Before switching you must learn how to read your bill and on which rates you are paying. For that, you have two options one call your energy provider support team, and second break it down by yourself. There are three types of rates on bills: the energy per unit price, standard charges, and Value Added Tax (VAT).
Understand Rates
The per-unit cost depends on your contract; it can be a fixed tariff or a variable contract. You can save your money on a fixed rate if the price goes up but it can be reversed. The second thing you should check is the standard charges these are the static rates to connect the supply. The VAT is the fixed government tax according to your business category.
Calculate Energy Consumption
The easiest technique to find the cheapest business electricity supplier is to calculate your energy consumption. When you know your preferences, it’s easy for you to choose the best commercial energy provider. The perfect technique to find your energy consumption is the smart meter, which will provide you accurate readings on the digital display. For hands-on notes, you can use these formulas:
- For electricity supply costs (in kWh):
(total watts x hours) / 1000 = kilowatt-hours
- For peak demand (in kW):
Total wattage of all simultaneously running motors / 1000 = peak kW
Customer Service Ratings
The final and most essential thing you must check before switching is their customer service ratings. For these, you can utilise social media platforms and Trustpilot. The most accurate for the UK utility providers’ service check is Trustpilot. You can also search on online platforms such as Twitter (X), Facebook, Linkedin or YouTube. On these platforms, review the customer feedback and check if their support team provided various contact options such as phone, email, or chat. With these, also monitor the representative response to complaints and the process of complaining.
Best Electricity Companies in UK
Once you know how to find cheap electricity, then you can choose from the following utility providers. These all offer competitive prices and have 4-plus ratings on Trustpilot. Remember you should have to keep your own research to find the best business electric supply for you.
British Gas
One of the oldest, and from the big 6, British Gas is our top-of-the-table energy provider. If you’re looking for the most reliable and well-known then it’s for you. With this, you have to compromise on the prices, as they are offering too many services, such as online payments, digital app support, and heat pump appliances. But they comparison to the competition.
Utilita
If you want an energy provider who always gives you a clear breakdown of the bills and offers an easy way of payments through an online app then Utilita is for you. Utilita also started a new method of billing through Pay As You Go (PAYG) smart energy meters. But with all of these, there are cons that they are not providing a dedicated client handler and no green tariff. Moreover, their customer service only responds during working hours.
Maxen Power
If you are a commercial business owner and looking for a reliable energy partner then Maxen Power is perfect for you. Maxen Power’s pro point is the customer-centric approach in which they offer fixed tariffs according to your business demands. With all of these, Maxen Power has a dedicated account handler including a wide array of customer help channels. Users can contact the company via email, social media, and Trustpilot. But like everyone, they are not offering green tariffs, and their support team is only available on working days.
Octopus
The first energy provider known for their contracts focuses on green energy. They are also well known for their smart meter innovation and utilising the latest technology such as the Octoplus in which freebies will get vouchers and giveaways. They have impressive Trustpilot reviews but not any responses to negative comments which makes their chance weak. Also, they are not rated well in the installation of smart meters’ efficiency with other utility providers.
Final Note
There are various options for you in the energy suppliers company and the internet is full of information. With numerous utility providers who are offering different tariffs, now it’s on you to search and find the best electricity company for your business. We can only recommend you follow the steps we defined earlier to get a great deal from a commercial energy provider in the UK.
