Business energy if the fuel you use to turn on your lights, run your ePOS system or your home! The energy is either electricity or gas and is often billed every quarter.

There are a range of ways to reduce energy costs in your business. Investing in renewable and self-sufficient energy sources can save businesses thousands. This is often solar panels and batteries. Pair this with an electricity supplier with competitive rates. Find them through SpotDif today. Save thousands of pounds.

There are many ways to reduce your energy bills. SpotDif has helped thousands of domestic and business users bring their energy bills down. By comparing suppliers, you’ll be able to ensure you get a competitive price on your contract. Then, if you choose to go with electric, you can invest in solar panels and batteries to build up a sustainable and renewable energy source. This can reduce your energy consumption by 75%.

There are no energy price caps for businesses.

The five main types of energy bill contracts are:

• Fixed rate – Unit rates are set at a certain price for the duration of the deal. This can help with budgeting and safeguard against price hikes. Monthly bills will still fluctuate in line with your energy usage.
• Variable-rate – Unit rates are linked to market activity, and can go up or down for the duration of your contract. So you could end up paying more or less from month-to-month, even if your energy usage remains constant.
• Deemed rate – Also known as an out-of-contract rate tariff, this is a rolling deal with expensive rates.
• 28-day – A contract for businesses who haven’t switched since the energy market was deregulated.
• Rollover – A contract that is used when no alternative has been agreed before your current contract’s end date. Rates are usually among the supplier’s most expensive.

You need to be particularly mindful of deemed rates and rollover contracts. If you haven’t signed a new contract or renewed your old contract, most suppliers will put you on ‘deemed rates’, a temporary rate that is usually a lot more expensive than regular, in-contract prices, or a ‘rollover contract’, which will see you sign up with your supplier for another year, again on less competitive rates.

If you’re placed on deemed rates, you can get out of this contract by giving your supplier 30 days’ notice, but if you go onto a rollover contract, you’ll find this much more difficult to leave.

As with domestic energy, there are two charges that will make up the bulk of your business energy bill:

• Unit cost – Measured in kWh, this is the rate you pay for the gas and electricity you use. This rate will usually be fixed, but your bills can still go up and down, depending upon usage.
• Standing charge – A fixed daily charge to cover the maintenance of the national grid, and the cost of transporting gas direct to your business premises.

When you compare quotes, you can cut the cost of your bills by looking for deals that offer lower unit costs and standing charges, but the price you pay each month will also be affected by additional charges and taxes, including transportation and distribution costs levied by suppliers, as well as VAT and the Climate Change Levy, issued by the government.

The leading energy suppliers in the UK are also known as the big 6.

They are commonly known as:

1. Octopus Energy
2. E.ON
3. British Gas
4. Scottish Power
5. EDG Energy
6. SSE (domestically known as OVO)

Choosing the right energy supplier depends on a number of factors.

If you’re not sure where to start then use SpotDif to compare suppliers you’re eligible to match with!