Total Gas & Power
Total Gas & Power is a business energy supplier, wholly owned by Total SA. It has been a leading business ...Read More
There are two types of Contracts for Difference (CFD), one relevant to investments and one that is a new levy on UK business electricity customers, envisaged as a replacement for the current Renewables Obligation (RO).
In fact, the two are closely related: in business electricity, a Contract for Difference (CFD) is a contract between a low carbon electricity generator and the Low Carbon Contracts Company (LCCC), a Government-owned company.
As the Government explains, the business electricity generator in a CFD is paid the difference between the ‘strike price’ – a price for business electricity reflecting the cost of investing in a particular low carbon technology – and the ‘reference price’– a measure of the market average business electricity price.
Contracts for Difference (CFD) are designed, in the Government’s words, to promote “greener energy and reliable supplies that the country needs, at the lowest possible cost”. The aim is for low-carbon generation to be able to compete with conventional, fossil-fuel generation.
The CFD system offers business electricity suppliers more certainty by reducing their exposure to volatile wholesale prices. UK companies are somewhat protected from higher support costs when business electricity prices are high.
Business electricity Contracts for Difference (CFD) came into force in April 2015. But the Renewables Obligation (RO) will still be in place until 2037 as the scheme’s 20 year lifespan phases out. CFDs will to replace the RO for any new business electricity generation plant from 2017.
Business electricity Contracts for Difference (CFD) will initially be administered as an additional cost on business electricity bills. But, with the phasing out of the Renewables Obligation (RO) offering an uncertain timetable, businesses may wish to take expert advice on how they can best comply with Contracts for Difference (CFD) rules.
Business electricity suppliers will have varying responses to the Contracts for Difference (CFD) rules and making the necessary business electricity comparison could be time consuming. We offer no-obligation comparisons in just 20 minutes and can take care of all the paperwork for your business electricity switch service if you like the sound of what we offer.
Thousands have already chosen SwitchMyBusiness.com – we are the highest rated business energy provider on independent ratings site TrustPilot – so give us a call on 0330 0100 251 (or request a call back using our form) now to start saving.
Our dedicated page has lots more information about business electricity.
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"thank you nicole for your kind help to set up my business electric account fantastic service and your personal touch thank you"This review was posted by Sam Raju on the 19th of February 2018
Aaron Gallagher recently helped me…
"Aaron Gallagher recently helped me switch the gas and electricity supply for our business. He was extremely helpful and well informed which was great for me as I know nothing in this area! He saved us a small fortune and dealt with all of the switch for us which again was extremely helpful as it wasn't completely straightforward. Thanks again for you help Aaron, it was so appreciated."This review was posted by Rachel on the 17th of February 2018
A better deal for our Village Hall
"I recently used this company to get a better energy deal for our local village hall. Other companies were quite pushy but Lorraine and Bhavni from SwitchMyBusiness were much more professional. They sent me useful information by email enabling me and the village hall committee to make a decision about which supplier to use. The switch was done by phone and when the energy provider sent the paper work to the wrong address Bhavni sorted it out straight away. I saved over £1000 for the charity."This review was posted by Irene Winter on the 16th of February 2018
"Lorraine was great and very helpful. We negotiated and received a good deal on our supply."This review was posted by Edwina Nash on the 16th of February 2018
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"The SME Personal Switcher, Lorraine Carey was really helpful."This review was posted by Cross Fabrications on the 16th of February 2018