In order to make sure you get the best possible deal for business energy, you need to be aware of the different factors that influence the quote you will be provided with. Not only can this help you to get a good understanding of your bill, but it will also empower you to make changes that can reduce your overall energy expenditure. So, let’s take a look at what influences your business energy quote in further detail…
The type of company you own
The type of business you own will have an influence on your consumption pattern. After all, not all companies work the standard hours of 9 am until 5 pm, Monday to Friday. If your business requires a lot of energy on the weekend, it is likely you will be on a different rate. Weekend rates are usually lower because there is less demand on the network.
The meter you have
You can usually save money by signing up for a smart meter. A smart meter carries out meter readings automatically for you so that you do not have to. When compared with a standard meter, a smart meter can save you money because it ensures your energy provider receives accurate figures so you never pay too much. Standard meters often use estimates, which can result in people paying for energy they haven’t used.
Your energy provider
Of course, your energy provider makes a big difference. Naturally, some providers are cheaper than others!
The length of your contract
The length of your contract will impact your unit rates and daily charges. On average, for every year you extend your contract, between two and six per cent is taken from your standing charge. However, roughly six per cent is added to the unit cost per annum. You also need to consider the fact that some suppliers may offer you a cheaper rate in order to lock you into a longer contract.
Where your business is located
Prices also vary depending on your geographical location. Scotland has some of the most expensive energy costs, while the Midlands has some of the lowest.
The average energy consumption of your business
Finally, your average energy consumption plays a huge role. Typically, the more energy you use, the lower your price is per unit. Suppliers will use data from your previous energy supplier to determine this.