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How do I switch business energy supplier?

How do I switch business energy supplier?

If you run a business, you need to keep costs in check. But do you know how much you’re paying for your energy supply? If it’s been a while since you checked your business gas and electricity contracts, you might be able to save money by switching. But remember, businesses are tied into energy contracts. This means they can’t cancel during the term of their contract, unless the business goes bankrupt or moves business address.

Peter Earl
From the Energy team
minute read
posted 13 MAY 2020

How to switch business energy

To switch your business energy supplier, you should:

  • Find your energy contract or a copy of your most recent bill 
  • Pay off any outstanding bills before you switch 

Why switch energy supplier?

The biggest reason for switching is to get a better deal, but businesses often find themselves on ‘rollover’ or ‘evergreen’ contracts, which continuously renew without checking that this is still the best deal for the company. This is great for making life easy, but as your supplier isn’t obligated to renew at their best rates, you might find your bill sneaking up.

What happens if I don't switch when my business contract ends?

If your contract ends, you'll usually simply be switched over to your supplier’s out-of-contract rates. These can be much higher and can result in up to a 50% increase on energy prices. As this can be beneficial for suppliers, there's very little incentive for them to suggest you move rates.

The Competition and Markets Authority (CMA) found that 45% of microbusinesses (broadly speaking, those with under 10 employees) were stuck on their suppliers’ most expensive default tariff. They were collectively paying around £180 million a year more than they would in a more competitive market.

Subsequent to this finding, rules have changed for microbusinesses so that suppliers: 

  • Can't automatically impose expensive rollover contracts and rollover contracts can only be a maximum of one year
  • Have to reduce the notice period required from 90 days to 30 days
  • Must advise microbusinesses about how their current tariff compares with the new prices and show annual consumption on their renewal letters
  • Have to make comparing and switching easier by publishing prices for commercial customers online

Get advice from Ofgem on understanding energy contracts for businesses.

Can businesses get dual fuel energy deals?

For domestic energy, you can bundle your gas and electricity together with one supplier to save money and make managing bills easier. This is known as a dual fuel tariff

Unfortunately, commercial energy suppliers don’t offer dual fuel deals. Even if you get your business gas and electricity from the same supplier, you’ll still have two separate contracts. The good news is that we can save you time and hassle by quickly comparing business electricity and gas rates from a range of suppliers, to make sure you get the right deal for both.

What do I need before comparing business energy?

Before you start comparing energy suppliers for business, it’s helpful to have your contract or a recent bill to hand. That way you’ve got a note of how much you currently spend, and how much of a saving you could be making. 

Follow the steps below:

  • Enter the postcode of your business. Using smart digital data, we can then access everything we need to give you a quote.

  • Experts from our business energy provider, Bionic, will analyse the market to help you find the energy tariff to suit your needs, and give you a brief call to discuss it.

  • Should you choose to switch energy providers, Bionic will do the rest.

Not sure what your meter numbers are? You’ll find these on your bill or meter. MPAN is the Meter Point Administration Number for electricity, and MPRN is the Meter Point Reference Number for gas.

See understanding your energy bill.

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