Compare Business Electricity Rates
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Why Compare Business Electricity Rates?
You can compare business electricity rates in just 30 seconds online with Business Electricity Prices. These live prices are from a panel of trusted UK business energy suppliers.
We just need your business address to get started. Once you've found a tariff that you like the look of, you can switch entirely online.
We'll aim to have you switched over to your new business electricity or gas supplier within five working days.
What Is Business Electricity Rate Comparison?
Businesses are able to compare business electricity prices and switch to a cheaper deal at the end of their contract. This helps to keep the cost of running a business low.
Business electricity rates are dependent on multiple factors, including location and consumption. This means the business electricity price per kWh available to you changes from day to day. Using our comparison engine is a great way to find the latest prices.
How To Compare Business Electricity Rates?
We value your time and understand that running a business is time-consuming. Our customers can switch business electricity deals online in just a few clicks. You'll have a range of exclusive tariffs to choose from.
Comparing prices unique to your business takes just 30 seconds by using just your address with permission to look at your usage from your commercial electricity meter. We'll need your MPAN number from a recent electricity bill to do this.
We work with a panel of 14 trusted suppliers to ensure you’re getting a great deal. We’ll have you switched over within 5-working days.
What Information Is Needed to Compare Business Electricity Rates?
All we need to compare business electricity rates for you is your business' address, as well as your permission to look up your electricity usage data. Having a few other things to hand can help you secure more accurate business electricity rates - these include a having recent electricity bill to hand, knowing your electricity meter type and knowing your electricity supplier.
What To Consider When Comparing Business Electricity Rates?
When shopping for commercial electricity deals, it's important to ask yourself these questions to ensure you get the right deal for your business:
- Will I Be Saving Money?
Performing an electricity audit will allow you to understand your usage. Knowing this information will help you decide if a particular tariff from a particular supplier is better suited to your needs, thatn a different deal. - Is This The Right Tariff For My Business?
A low unit rate isn't everything. Understanding your usage will help you decide if you can save money on your annual bill if you weigh the standing charge against the unit rate. - Is This The Right Supplier?
Different suppliers are better suited to different business needs, so take some time to understand if a supplier will be the best one for you.
In 30 seconds, you can compare business electricity prices and select the tariff that’s right for your company.
Business Electricity Prices Per kWh 2024
Business Size | Annual Usage | Unit Price per kWh | Daily Standing Charge | Estimated Annual Cost | Compare Prices |
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Micro Business | Up to 5,000kWh | 24.9p | 63p | £852.76 | |
Small Business | 5,000 – 15,000kWh | 248p | 76.2p | £2,759.45 | |
Medium Business | 15,000 – 25,000kWh | 24.7p | 78.6p | £5,233.55 | |
Large Business | 25,000 – 50,000kWh | 25.2p | 86.9p | £9,757.14 | |
Very Large Businesses | 50,000+ kWh | 24.8p | 104.1p | £18,852.90 |
Data is correct as of 1 November, 2024. Business electricity rates are based on a two-year contract taken from a UK average price of tariffs from our panel of suppliers. The table is the average business electricity unit rates per kWh, standing charge, and the annual cost based on yearly kWh usage banding for the mid-point of the usage band.
Small Business Electricity Prices
In November 2024, a typical small business in the UK would pay £229.95 a month on average for their commercial electricity rates. This is based on a unit price of 24.8p and a daily standing charge of 76.2p.
A small business electric customer uses between 5,000-15,000kWh. Any less than this is considered a micro-business
Many owners decide to secure their rates with a fixed-rate tariff for 2 to 3 years for budgeting and predictable billing.
The truth is nobody knows with absolute certainty if wholesale electricity prices will go up or down. We can make predictions, but many prefer the security of knowing what they will pay.
Large Business Electricity Rates
In November 2024, a typical larger business in the UK would pay £813.10 a month on average for their commercial electricity rates. This is based on a unit price of 25.2p and a daily standing charge of 86.9p.
A large business electric customer uses between 25,000-50,000kWh annually. Any larger usage customers would need a more bespoke business electricity quote.
We will help you build a bespoke tariff. Incorporating energy management systems and ISO 50001 requirements before meter installation may be required. Securing great commercial electricity rates includes buying from wholesale suppliers and energy procurement schemes.
Energy Management Software For Large Consumption
Energy Management Software solutions deliver the ability to monitor and analyse electricity usage.
If you have a half-hourly or smart meter installed on your premises, then you can control your data using a range of integrated software solutions. Energy management allows your company to track actual usage versus averages.
Business Electricity Suppliers
Business electricity prices vary from supplier to supplier, with each one catering to different business types, so there is no one-size-fits-all approach to choosing the best business energy supplier. Below are the average standing charging charges and electricity unit rates from our panel of suppliers.
Business Electricity Rates by Supplier
Supplier | Electricity Rate (p/per kWh) |
Standing Charge | Monthly Price | Annual Price | Compare Prices |
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British Gas | 25.1p | 62p | £542.57 | £6,6510.82 | |
ScottishPower | 23.6p | 125p | £529.93 | £6,359.12 | |
Smartest Energy | 25.1p | 62.3p | £542.57 | £6,510.82 | |
British Gas Lite | 25.8p | 42p | £551.29 | £6615.44 | |
Valda Energy | 24.6p | 88.3p | £538.31 | £6,459.74 |
Supplier prices are an average of UK-wide tariffs for 2-year contracts with 25,000 kWh annual usage. As of November 1, 2024. Prices reflect a live market and are subject to fluctuation.
What Business Electricity Suppliers Can I Compare?
We work with Love Energy Savings for our business electricity and gas comparison, and that gives us access to a panel of 14 of the most trusted electricity and gas suppliers that can offer you a deal that suits your business. These offer some of the most energy rates on the market.
Compare These SME Business Electricity Suppliers
Suppliers on our SME panel include:
Compare These Business Electricity Suppliers for Half-Hourly Meter Customers
Customers that have a half-hourly meter can also switch to the below suppliers:
- British Gas
- Drax Energy Solutions
- nPower Business Solutions
- Shell Business Energy
- SmartestEnergy
- TotalEnergies Gas & Power
- EDF Energy
- Crown Gas & Power
- E.On Next
- Valda Energy
Best-Rated Business Electricity Suppliers
The best business electricity supplier isn't any one supplier, but the best business electricity supplier for you. Choosing the right commercial electricity supplier for your business comes down to several factors, including price, but also whether the supplier is trusted by its own customers. We've catalogued the most well-known business electricity suppliers by their Trustpilot rating, as well the number of reviews for reference, so you can decide if they are right for you. We've also added the customer base that we know the commercial electricity supplier is most well suited for, based on their service offering.
Supplier | Trustpilot Rating | Number of Reviews | Great For | Compare Prices |
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Shell Energy | 4.8 (Excellent) | 127 | Large Businesses | See Prices |
Crown Gas & Power | 4.8 (Excellent) | 104 | Custom tariffs for large businesses | See Prices |
TotalEnergies Gas & Power | 4.7 (Excellent) | 5,808 | Renewable electricity & SSE specialises in business electricity | Compare Deals |
Ovo Energy | 4.4 (Excellent) | 169,765 | Smart meters and EV solutions | Compare Deals |
EDF Energy | 4.4 (Excellent) | 85,145 | Renewable tariffs as standard | See Prices |
ScottishPower | 4.3 (Excellent) | 79,939 | Small business specialist & online account management | See Prices |
E.On Next | 4.3 (Excellent) | 91,878 | Online-only small business electricity supplier | See Prices |
Ecotricity | 4.3 (Excellent) | 5,644 | Renewable as standard and focused on large businesses | Compare Deals |
Yü Energy | 4.3 (Excellent) | 4,004 | Renewable as standard and small business specialist | Compare Deals |
British Gas | 4.1 (Great) | 230,165 | Great customer reviews and small business specialist | See Prices |
Pozitive Energy | 4.1 (Great) | 6,037 | Tech-led electricity data for large businesses | Compare Deals |
United Gas & Power | 4.8 (Excellent) | 860 | Ofgem regulated | |
SmartestEnergy | 4.0 (Great) | 2,344 | Large businesses focused on sustainability | See Prices |
Valda Energy | 3.9 (Great) | 2,313 | Renewable as standard | See Prices |
British Gas Lite | 1.8 (Poor) | 3,304 |
Online account management |
See Prices |
Utilita Energy | 4.3 (Excellent) | 97,977 |
Smart meters |
Compare Deals |
nPower Business Solutions | N/A | 61,088 |
Custom tariffs for large businesses |
See Prices |
Trustpilot Score and Reviews as of 2024. Opus Energy sold its business customers to EDF as of September 1, 2024 and has been removed from the table.
In 30 seconds, you can compare business electricity prices and select the tariff that’s right for your company.
Choosing Your Business Electricity Tariff
Selecting the right type of business electricity tariff can have a big impact on your monthly bills.
So, it's important to think about your opening hours and which part of the day you're using the most electricity.
Here are the tariff types you can choose from.
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Fixed-Rate Tariffs
The unit price you pay for electricity will be fixed for an agreed amount of time. Business owners who value budgeting and controlling their bills are attracted to this tariff.
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Variable-Rate Tariffs
Variable-rate tariffs offer great flexibility. The unit price you pay for electricity will go up or down each month. This is a great fit for businesses that are open to more risk. This is a popular tariff in times of high electricity rates as many wait for prices to drop.
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Renewable Tariffs
Renewable electricity tariffs offer a great option for businesses aiming to reduce their carbon footprint. Often there's not much difference in the unit price of renewable tariffs and some suppliers offer 100% renewable as standard.
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Rollover Tariff
Businesses will be placed on a rollover tariff if a new deal has not been agreed. This is a legal contract for one year and the unit rate can be more expensive than previously paid.
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Deemed Rate Tariffs
Deemed rate tariffs are for businesses moving into new premises and have not agreed to a deal. This only happens when a business electricity contract has never been in place at the property. These are some of the most expensive business electricity rates.
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Flexible Tariffs
Large consumption business electricity users can purchase in bulk. Purchasing electricity at the beginning of the contract offers cheaper unit rates.
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Economy 7 Tariffs
Economy 7 tariffs charge electricity at two different prices. The night rate is set at 7 hours of cheaper electricity and the price per kWh will be more expensive for the other 17 hours in the day. These tariffs are cheaper for businesses that mainly operate in off-peak hours.
Cheapest Business Electricity Tariffs
Different factors make suppliers the best value for your money, but in terms of unit rates, we have put together the cheapest fixed-price unit rates for you, to give you an idea of what the cheapest rate is.
Business Size | Supplier | Tariff Name | Business Electricity Price (P/KWH) |
Compare Prices |
---|---|---|---|---|
Cheapest 1-Year Fixed | Smartest Energy | SmartFix- 1 Year | 22.13p | |
Cheapest 2-Year Fixed | Smartest Energy | SmartFix- 2 Year | 22.53p | |
Cheapest 3-Year Fixed | Smartest Energy | SmartFix- 3 Year | 23.21p |
Supplier prices are an pulled from 1,2 and 3-year fixed-rate tariffs for the London region (region 12) and are for contracts beginning November 1, 2024. Prices are accurate based on 25,000 kWh annual usage. Prices reflect a live market and are subject to fluctuation.
Business Electricity Comparison Made Simple
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We just need some basic information like your postcode and contact details. It takes just 30 seconds to see live prices.
View live business electricity rates online
See live business electricity rates online from a trusted panel of UK suppliers.
Switch to your new supplier
We will handle the switching process once you have chosen your tariff and supplier. We will have you switched over within 5 working days.
Have Business Electricity Rates Become Cheaper in 2024?
We’re all searching for cheaper business electricity rates since seeing prices skyrocket just a few short years ago. The Ofgem energy price cap does not apply to businesses so it is important to shop around for a great deal.
We've seen business electricity prices stay at a similar price for a few months now. Electricity rates are impacted by demand, wholesale prices and other factors. This means business electricity rates can go up or down on any given day. Many companies are choosing to grab a fixed rate deal for security and the ability to predictably budget.
Here's a graph that shows how electricity prices have changed since last year.
In 30 seconds, you can compare business electricity prices and select the tariff that’s right for your company.
Business Electricity Rates FAQs
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Can I Switch To A No Standing Charge Tariff?
No standing charge tariffs have not been available for a few years. However, they may come back in the future.
Many providers will not offer an electricity tariff with a zero standing charge with a competitive kWh cost putting many businesses off.
No standing charge tariffs can benefit businesses which operate seasonally and those that open just a few days a week.
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Is Business Electricity Cheaper Than Domestic?
Business electricity prices are cheaper than domestic. This is because providers usually only buy your supply of electricity once the new contract has been agreed upon.
This means that if the company agrees to a 4-year contract, the supplier will purchase the electricity to cover the full contracted period.
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How Can Energy Management Systems Help My Business?
Companies can lower expenses by reducing consumption and introducing energy-efficient products. Innovations together with software help manage usage and maintain visibility reporting.
The Carbon Trust estimates that investing in efficiency annual savings of between 10% and 20% are achievable throughout the company.
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What Does ‘kWh’ Mean?
A kilowatt hour (kWh) is the name given to a unit of energy and is the standard unit. This is a metric used to calculate usage and cost.
This is calculated on a price per kWh basis. 1 kWh would approximately equate to using a desktop computer for 3 hours or boiling a kettle 10 times.
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What Costs Make Up Business Electricity Prices?
Your business electricity bill includes the following:
- Unit rate (charged in pence per kWh)
- Daily standing charge (charge at a rate of pence per day)
- VAT at 20%
- Climate Change Levy (CCL)
The unit rate is the business electricity rate and it is used to calculate how many kWh of electricity have been used by the business.
A daily standing charge is also added to the bill's total. For example, a standing charge of 50p over the course of a 30-day month would equate to £15 a month. For an annual cost, the daily charge would be multiplied by 365 days, making an annual cost of £182.50.
Businesses must pay the standing charge regardless of how much energy they have used that day. The exception to this rule is businesses that are on a no-standing charge tariff.
VAT will be applied to the business electricity bill at a standard rate of 20%. Non-profit businesses may be eligible for a discounted VAT rate.
Businesses will also be charged a Climate Change Levy (CCL). This is a 'green tax' charged at 0.775p for electricity for the period April 2023 to March 31st 2024.
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What Is The VAT Rate On Business Electricity?
The standard VAT charge on business electricity is 20%. Some companies may be eligible for a discount to 5% (non-profits).
Our VAT on Business Electricity guide explains this in more detail.
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Are Business Electricity Rates Cheaper At Night?
You can get cheaper business electricity rates at night if you have a multi-rate meter.
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How Long Does It Take To Switch Business Electricity?
We’ll aim to switch you to your new supplier within 5 working days.
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What Is Classed As A Large Business?
You're considered a large business if you consume more than 55,000 kWh of electricity per year.
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What Is A Meter Point Administration Number (MPAN) Used For?
MPAN is short for Meter Point Administration Number. This is a unique identifier that is assigned to each electric meter. These numbers are 21 digits long and can be found on your business electricity bill or on your meter.
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What Is The Difference Between a Small Business And A Micro Business?
A micro-business is defined by the EU as having less than ten employees or a turnover of less than £1.8 million. This definition would cover most of the 4.4 million businesses operating in the UK.
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How To Reduce Small Business Electricity Bills?
Reducing consumption, switching suppliers and direct debit discounts are the easiest ways to save money on business electricity.
A great way to reduce the cost of business electricity is to conduct a business electricity audit.
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How To Set Up Business Electricity for The First Time?
There are four main steps to setting up your business’ electricity. These are:
- Locate your meters and take a reading – This is the first task you should complete when you move into your new business premises. Take an electricity meter reading will measure the energy you’ve used since entering the property and help ensure that your future bills are accurate.
- Find out your current supplier – Once you’ve recorded the meter readings, you’ll need to provide them to the building’s current energy supplier. You can find out who this is by enquiring with the property seller or the previous tenants. Alternatively, you can use the Meter Point Administration’s online tool to find out your gas supplier and use the Energy Networks Association tool to find out who supplies your electricity. These services will also be able to inform you of your MPAN and MPRN.
- Choose a tariff – Your business electricity needs may be different to your building’s previous owners, so you should consider the different types of tariffs available. For example, you can choose between fixed-rate contracts, variable-rate contracts, multi-site contracts, and Economy 7 and Economy 10-meter tariffs.
- Compare deals – Finally, once you have an idea of the type of contracts your business requires, you can compare business electricity tariffs to find the best deal.
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How To Get The Best Electricity Quotes For My Business?
To get the best electricity quotes for your business, start by understanding your energy needs. Look at different energy suppliers, and compare rates, contract terms, and customer reviews. Choose a reliable supplier with favourable contract terms that align with your business goals.
Check unit rates and additional charges to find the most cost-effective option. Consider renewable energy choices if sustainability matters to your business. You can also get government support if your sustainability goals align with grant guidelines.
You need to prioritise good customer service for quick issue resolution. Negotiate terms with suppliers and seek advice from our Business Electricity Prices expert team to navigate the process efficiently.
Following these steps will help you secure the best electricity quotes to suit your business needs.
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What Should I Include In My Contract Termination Letter?
Below is an example of a termination letter template:
To Whom It May Concern,
To: Your electricity supplier’s address
From: Your name, company name and registered business addressPlease accept this letter as formal notice of the termination of the electricity contract [contract number]. This notice is for meter numbers MPAN/ MPRN, registered at the address quoted at the top of this document. This termination notice is set out per the terms and conditions of the contract and is to take effect as of the contract end date.
Please confirm in writing you have received this notice of termination.
Yours faithfully,
Your name.
Your role.
Your Company Name.Your Signature.
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What Is Voltage Optimisation?
Voltage optimisation helps save money on their business electricity bills by improving the efficiency of electrical devices.
To alleviate electricity wastage, all electricity-related equipment is rigorously assessed to determine how its power use can be streamlined for a more cost-efficient business.
Smaller domestic voltage optimisers cost much less. For business and commercial grade voltage optimisers, you can expect to pay around £1,500.
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How Much Does It Cost For A Business EV Charging Point?
Costs start at around £1,000 (including VAT) to install an electric vehicle charging point.
This includes the assumption that you acquire a grant from the Government’s Office for Low Emission Vehicles.
Compare Business Electricity Rates
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