The prices of electricity, oil, and gas have tremendously increased in the past 3 years. Amidst the hostilities in the Middle East and the rising energy consumption demands, the situation could become much worse as 2024 progresses. This can result in an alarming situation for small businesses that can barely afford to pay the current energy tariffs and utility bills.
The operation of most small businesses depends upon electricity, gas, oil, or some other kind of energy resource. As a result, they can end up spending a hefty amount of money on energy consumption. This can be disastrous for small business owners as most are often struggling to make a profit and keep their business running.
A budget-friendly energy supplier will allow you to save money and reduce your expenses considerably. This is why entrepreneurs must find cheap business energy suppliers. This task may feel impossible but it isn’t. You just need to research extensively and compare different energy suppliers to find the best one for your business.
We understand that finding the cheapest energy supplier requires time and effort. This is why we have done the research and made the comparison for you. We have considered the tariff rates, energy plans, green energy initiatives, and customer reviews among many other factors, to find the cheapest energy suppliers in the UK. This article will also answer all your questions about energy tariffs, provide tips to cut down on energy bills, give tips to help switch suppliers, and introduce the cheapest energy companies in the UK.
Small businesses often have small profit margins and they are struggling to survive in a competitive market. They have to save money through every means possible to keep their operation running. Plus energy consumption is usually one of the biggest expenditures of most small businesses. So saving money on energy tariffs should be the focus of all entrepreneurs.
The energy cost can be brought down by using electricity, oil, and gas smartly. The energy bill can also be cut down by switching to a budget-friendly energy supplier. You can search for a better deal and switch to a supplier that charges reasonably per unit. This will dramatically decrease your energy expenditures and help you save your hard-earned money.
The following are the cheapest small business energy suppliers in the UK:
Octopus Energy is a giant when it comes to providing renewable energy to small businesses. It is the top choice of most business small businesses as it offers fixed tariffs. The fixed tariffs let business owners know exactly how much they will be paying per unit over the course of the contract. Plus this energy supplier is known for offering reasonable energy tariffs.
What sets apart Octopus Energy is its active green energy initiatives. It offers renewable green electricity with dedicated plans for solar-powered businesses and vertical farms. It produces enough green electricity to power about 4 million homes easily. To encourage its consumers to switch to green energy, Octopus Energy explains clearly how much businesses will save by switching to green energy tariffs.
In addition, none of the contracts of Octopus Energy has any hidden or exit fee. Plus, it also offers a straightforward switching process without disrupting the energy supply. It is known for charging its customers exactly what is agreed in the contract. The customer services of this energy supplier is also top-notch. You can contact its customer support through email or phone and receive a timely response.
Octopus Energy has also received excellent online reviews from millions of business owners. However, it does charge an advance payment at the start of the contract as a safety precaution. Plus, no pricing information or upfront plan is available on its website. Everyone has to get a quote after entering their details which can be a little inconvenient.
Overall, Octopus Energy is an excellent and cheap energy provider. It offers budget-friendly fixed tariffs and promotes green energy. It has also received amazing online reviews and public recognition for its services. There are no hidden charges or exit fees applicable to its client contracts. You should definitely check it out if you are thinking of switching energy suppliers.
● Cheap fixed tariffs.
● Effortless switching process.
● Promotes green energy suppliers.
● No hidden fee.
● Advance payments on contracts.
● No price plans are available online.
Utilita is a great choice for hybrid small businesses as they usually provide energy to their customers through smart and prepayment meters. Smart or prepayment meters allow the user to buy credit through a key or smart card. The credit is then used when the electricity or gas is utilized. Such meters are ideal for those who are looking for a pay-as-you-go kind of contract or those who want to monitor their energy consumption.
The rates offered by Utilita are quite reasonable. Its per unit charge is almost the same as Octopus Energy, however the standing charge is a little bit more expensive. Still, the flexible payment plan makes Utilita an appealing choice for many entrepreneurs. You can get a quote for your business online after entering your business details. In addition, the “one price fits all tariffs” by Utilita offer free smart meters, fixed tariffs throughout the contract, flexible payment methods, and a 35p/day standing charge which appeals to small business owners.
Moreover, updating your meter credit is very convenient. You can top up your credit online, via the app, through messages, or even at any PayPoint location. Utilita cares about its customers and that’s why it even offers emergency and friendly credit to help in case your meter runs out of credit during holidays or the weekend.
This energy provider also does not charge any hidden or exit fee. You can contact its customer support by phone or online forum. Furthermore, Utilita has gone one step ahead and established various energy hubs across the UK. You can personally visit these hubs to resolve your issues and talk with experts regarding your contract or billing issues, etc.
However, it falls behind on the green energy front. It does not offer any green tariffs or renewable energy supply. There is also very minimal pricing information on its website. All in all, Utilita is an exceptional budget-friendly energy provider for those who are looking for flexible and convenient payment plans.
● Flexible payment plans.
● Physical energy hubs for customers.
● Cheap tariff rate.
● No green tariff.
● Minimal pricing information on the website.
Scottish Power is one of the biggest energy suppliers in the UK. It proudly serves more than 5 million consumers in the UK. So far, we have only discussed small energy providers that are trying their best to build a repute for themselves. But Scottish Power already has an established name in the market. It serves both commercial and residential areas in the UK. Its tariff rates are also quite affordable compared to other big providers.
It carefully calculates tariff rates for businesses and comes up with a fair price plan for everyone. Plus it offers different tariffs and plans. You can choose fixed or variable tariffs and the contract duration of your choice. There are no hidden or exit fees, as long as you put in the 30-day termination notice. Transparency and accountability matter to this supplier so you will only pay the tariff that is agreed in the contract.
Furthermore, Scottish Power produces enough green electricity to power 1.2 million consumers. It offers green tariffs and encourages its consumers to shift to green energy to save money. It also offers other eco-friendly add-ons and services i.e. solar panel plans, smart meters, EV charging solutions, etc. You can conveniently pay for all these services through Direct Debit or cash.
Its customer support is brilliant especially when it comes to response time. You can contact its representatives through call or online forum and they will resolve your issues swiftly. Scottish Power also has a dedicated team of experts that offer energy-efficient advice to businesses. This supplier even offers access to an app called “Your EnergyApp” which allows people to view their energy consumption and manage their accounts.
However, keep in mind that Scottish Power is expensive if we compare it to Octopus Energy and Utilita. Some reviews also complained that Your EnergyApp sometimes malfunctions. But it is clear that Scottish Power is one of the most reliable energy providers that offers extensive services and add-ons to its consumers.
● No hidden Fee.
● Plethora of add-on services.
● Green Tariffs.
● Dedicated team to share energy efficiency tips.
● Expensive.
● App sometimes malfunctions.
EDF Energy is another big energy supplier in the UK. It has a long history of providing reliable and quality service. It has stood the test of time and that is why many people prefer to choose EDF Energy instead of other new suppliers. EDF Energy also offers good tariff rates, exceptional customer support, appealing add-on services, and much more to attract entrepreneurs and small business owners.
This energy supplier does charge a little bit more as it has a strong reputation and the trust of the people. But its prices are not unreasonable. It allows you to choose the type of tariff, length of contract, and even payment methods and calculates your unit rate based on your choices. You can choose the fixed tariff or variable tariff and also choose to pay through a Direct Debit or pay-as-you-go feature, etc.
Moreover. EDF Energy does not charge any hidden or exit fee. However, the no exit fee clause only applies if you give a 49-day termination notice. It claims to care for its customers deeply and that’s why its customer support is known for promptly solving issues. The online reviews about it are also great.
It offers four different green tariffs. You can choose the one that suits the sustainability goals of your business. It also offers solar panel plans and energy-efficient services to help businesses in managing their energy consumption.
As said before, it does not charge any hidden fee but charges a late fee of £10 on late monthly bill payments. Also, its tariff rates are still a little more expensive than other energy suppliers discussed here. Still, EDF Energy is an incredible, trustworthy, and competent energy supplier for small businesses.
● Trustworthy energy provider.
● Impeccable Customer Service.
● Eco-Freindly Tariff.
● Late Fee on delayed bill payment.
● Little Expensive than Other Suppliers.
We have discussed the cheapest yet most trustworthy energy suppliers in the UK above. You can also analyze the market and compare commercial gas suppliers yourself. Keep the following tips in mind while you compare the energy suppliers:
First of all, you need to compare the Tariff rates, and types along with contract duration before you make a decision. Find out if your gas supplier offers fixed, variable or rolling tariffs. Each tariff type has its own pros and cons. Carefully weigh both to decide which one suits your business better. You also need to compare the rate per unit offered to you. We recommend fixed tariff rates with a commercial contract of 2 years for small businesses.
Check out online reviews of the companies you are comparing. Online reviews often provide insight into the quality of service and customer support offered by energy providers. Find out what the customers of a provider have to say about them. This way you will be able to find out about hidden fees or fraudulent practices of shady providers and save yourself from monetary loss.
