Large Business Energy Comparison

From 1 April 2022, the energy price cap was increased by approximately 54%, meaning that household bills would see a hefty rise. However, there is currently no energy price cap for businesses – which means that energy suppliers could be charging higher rates to cover the increasing costs.

While the energy market looks as though it will remain highly volatile going forward, there are options available for businesses who may be looking for renewal.

1. Review your contract type – As a business owner, where possible remain flexible and open to new ideas on how and when to consume energy. Flexible contracts offer the option of when to take advantage of lower energy rates, to avoid paying peak rates.
2. Smarter Procurement – Long-term contracts are generally priced lower, so if you are a business owner looking to renew your energy contract within the next 6-12 months, you can leverage cost averaging. By securing a long-term contract, the average costs will include any lower market prices that may occur further down the line.
3. Monitor Energy Consumption – This may sound obvious but monitoring energy can see consistent returns and reduced energy spending. There is software available that allows businesses to see exactly how much energy is being consumed in graphs and reports.

Is your organisation looking to renew in the near future? Compare large business energy suppliers today with Utility Bidder to ensure you are making the best savings.

A business energy audit allows you to identify areas where energy is wasted and where efficiency can be improved, thus saving both energy and money.

As gas and electricity are such huge costs to businesses, it’s essential that these are closely controlled.

So, if you believe your business is using more energy than required or want to take control and manage costs in the current volatile energy climate, a business energy audit could be the perfect solution.

These are normally carried out by your energy supplier, either on-site or over the phone, or can be carried out by yourself.

On-site Audit – expert auditor will come to your business premises and review operations to highlight any changes that could be made to reduce energy consumption. This includes lighting, heating, air conditioning, and other systems which consume lots of energy.

Phone-based Audit – experienced energy auditor will call and ask questions about the current user. This will be used to inform a plan for you to follow which could include energy-saving ideas and costs.

DIY Audit – to conduct your own energy audit you’ll need to review historical energy consumption (previous four to five years), and create a list of actions and processes that could be improved such as equipment changes, insulation, lighting or heating, and ventilation.

Once you have carried out an audit or had an expert come and carry it out, the final steps would be to build out and implement your corporate energy consumption strategy.

If your business energy contract is not yet due for renewal, there are steps you can put into place with the aim to reduce and monitor your energy usage and costs.

These steps may seem simple, but by being thorough with your research and implementing small changes your business could see an improvement and decrease in overall energy usage.

Conduct an energy audit – this will give you an overview of the areas of your business that are consuming the most energy, allowing you to make a structured plan of where to make changes.

Replace lightbulbs with LEDs – LED bulbs to use 75% less energy than incandescent bulbs and can last for up to 15 years.

Turn off lights when not in use – by being efficient and switching light off when they’re not in use in areas such as hallways, cupboards and meeting rooms, businesses could be saving a drastic amount of money.

Don’t leave appliances on standby – almost all electrical appliances use energy when they’re in standby mode, including devices like printers.

Use energy-efficient equipment – although there is an upfront cost for changing equipment, by changing appliances for more energy-efficient models, the savings should see you make a return on investment.

Install a Programmable Thermostat – one of the easiest ways to lower your business energy costs is being able to adjust and switch off heating at the touch of a button. By installing a programmable thermostat, you can ensure the heating is off when it’s not required.

Invest in Energy Management Software – if your business is large enough, it might be worth investing in energy management software that allows you to identify areas that are inefficient and set alarms on these areas when they are using too much energy.

The P272 is regarded as one of the biggest changes to the business electricity sector since its deregulation. The purpose of the P272 is to move towards a more energy-efficient and smarter economy.

P272 is a new mandatory regulation that will migrate business electricity customers from non-half hourly meters (NHH) to half hourly meters (HH), which will enable suppliers to produce more accurate bills.

The Climate Change Levy (CCL) is an environmental tax charged on the energy that businesses use. It’s implemented to push businesses to become more energy efficient in how they operate and to continue the mission to reduce overall emissions.

The levy is charged on all taxable commodities such as heating, lighting, and power purposes.

Large businesses within the industrial, public, commercial, or agricultural sectors will be charged CCL on the main rate on electricity, gas, and solid fuel. These rates are listed on your business energy bill.