DCP228 and Business Electricity
What is DCP228? DCP228 is a regulation to be introduced by Ofgem in April 2018 which will change the way busin...Read More
Switching business electricity supplier can be time consuming and confusing but is often needed to get the cheapest business electricity. Our guide will help.
To know if your renewal rates are good you have to compare business electricity rates. Prices change frequently – sometimes daily – and not all suppliers pass on cheaper wholesale prices to their SME customers.
It’s likely that you’re already in a fixed term business electricity contract. You should take note of when your contract ends to ensure you don’t get rolled over into more expensive rates (known as a ‘deemed contract’), which can be as much as 80% more.
But don’t wait until the end before of your contract before you compare business electricity suppliers. If possible, start looking for new prices up to four months (120 days) before your contract end date.
Even those with a long time to run on their fixed term contract should compare business electricity tariffs. The savings offered by a business electricity supplier switch may outweigh the costs of terminating your contract early.
To ensure you get accurate business electricity quotes you will need to provide details including your name, address, current supplier and the date your contract ends. You will also need to hand your MPAN number, usage details, termination date and preferably your current renewal rates.
Do not worry that your MPAN may be used to switch you to another supplier without your consent – it can’t. This number provides a potential supplier with the information needed to offer an accurate electricity business rates comparison. Your MPAN should be on a recent bill or your current supplier will be able to tell you what it is.
If you can’t find your MPAN (or don’t have time to look), most suppliers will be able to find it from the national meter database (although this sometimes this isn’t up to date).
Once you have made a comprehensive business electricity price comparison, switching to a new supplier usually takes four to six weeks. Your old supplier may need you to take final meter readings once the switch is ready (or need access to your meter to take their own readings).
Even if everything seems to be going smoothly, it is often a good idea to speak regularly to both your old and new business electricity suppliers to check everything is proceeding satisfactorily.
Other queries about business electricity may be answered by the comprehensive information on our dedicated page.
To cut the hassle from switching business electricity supplier, SwitchMyBusiness.com can get you a thorough comparison and switch your supplier in just 20 minutes. As specialists in small business electricity tariffs, we also take care of all the paperwork so you can get back to do what you do best; running your business.
If you do decide to switch with us, when your business electricity contract is due for renewal we’ll be in touch to ensure you have plenty of time to choose your next deal and save you money again on your renewal prices. Just give us a call (or request a call back using our form).
"Everything was explained clearly by the representative, Mark Weeks, and it made the renewal of our utility supplier painless. Prices quoted were competitive and we were able to secure a better price than expected. The process was quick and efficiently dealt with. Jim, owner of Four Seasons Greengrocers, Crediton, Devon"This review was posted by Jim Bond on the 21st of March 2018
"Lorraine, the agent who attended to me, was extremely efficient and professional. The quotations obtained were very competitive and presented in an easily understandable format. All queries were attended to and replies forthcoming speedily. As a representative of the organisation, I could only present the proposals I obtained and, unfortunately, the committee elected to use another company. From my point of view, Lorraine made my task to gather all relevant details very easy and her attitude was professional and courteous throughout. I have no reservations in recommending SmB to other businesses who seek to change energy suppliers."This review was posted by Two Locks Church on the 20th of March 2018
Can not recommend highly enough
"Can not recommend highly enough. Pamwan was an absolute delight to deal with. Very thorough and patient which made the whole experience easy and straightforward."This review was posted by Kirby Marie on the 20th of March 2018
"Thank you Nicole for your efficient, friendly and patient service and returning paperwork so quickly to start the process."This review was posted by Rita Westwood on the 19th of March 2018
thanks Mr Pamwan Johnson excellent service
"thanks Mr Pamwan Johnson excellent service"This review was posted by kashif ahmad on the 19th of March 2018