Compare Business Electricity Prices
Secure great business electricity prices in just 60 seconds.
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Great Business Electricity Rates From Suppliers You Trust
We have a strong panel of trusted UK suppliers that we have some exclusive deals with. We’ve helped thousands of businesses save money on their electricity bills, and many of our customers complete their switch completely online.
Our innovative self-service platform allows busy businesses to switch at a time that suits them. Of course, we’re always at the other end of the phone during business hours should you need any further assistance.
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How To Compare Business Electricity Prices
Our electricity rates comparison service helps you find the right deal in just 60 seconds.
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We'll ask for some basic business contact details and ask permission to look up your meter information.
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You will be able to view a variety of tariffs and business electricity prices online with no obligation to switch - what have you got to lose by looking?
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Happy with what you find? If you decide to switch with us, we will handle the entire switch for you.
Are Business Electricity Prices High In 2023?
Business electricity prices are 65% cheaper in September 2023 than the highs in October 2022.
As rates have stabilised, many business owners are securing their business electricity rates in case they increase again in the winter months.
The graph on the right highlights how the unit price of electricity has dropped by 51.7p per kWh, based on the average price per kWh of the three cheapest business electricity suppliers on our panel.
Business Electricity Prices per kWh 2023
If you’re sitting scratching your head about what you should be paying for your business electricity, you’re not alone.
To shed some light on average business electricity prices, we have broken down what companies of various sizes might expect to pay based on average prices collected by the Department for Energy Security and Net Zero. Since prices change daily, it is better to compare the latest rates today.
Data below is correct as of March 2023, and data is from the Department for Energy Security and Net Zero survey of energy suppliers. Annual cost is based on average electricity use of each respective band. Business electricity prices exclude Climate Change Levy (CCL), while annual cost excludes daily standing charge. These prices reflect a live market and are subject to fluctuation.
| Business Size | Annual Electricity Consumption (MWh) | Average Business Electricity Price (pence per kWh) | Annual Cost, Excluding Standing Charge (£) |
|---|---|---|---|
| Very Small | 0 - 20 | 26.6p | £2,655.06 |
| Small | 20 - 499 | 23.5p | £61,034.00 |
| 500 - 1,999 | 26.9p | £336,152.01 | |
| Medium | 2,000 - 19,999 | 22.1p | £2,433,474.34 |
| Large | 20,000 - 69,999 | 20.9p | £9,398,081.73 |
| Very Large | 70,000 - 150,000 | 20.5p | £22,552,727.70 |
| Extra Large | 150,000+ | 20.4p | £30,529,483.48 |
| Overall Average Business Electricity Price | 21.5p | - |
Source: Gov.Uk. Data accurate as of March 2023
Cheapest Business Electricity Prices by Supplier
As prices vary from business to business, there is very rarely one cheapest supplier. The best supplier for your business will depend on how and when you use your energy.
Below you can find insight into the average business electricity prices per kWh for a small business.
Data correct as of September 2023. Prices are based on a two-year business contract with 25,000kW annual usage. These prices reflect a live market and are subject to fluctuation.
| Supplier | Average Price per kWh | Average Standing Charge | Annual Cost |
|---|---|---|---|
 |
33.2p | 42.3p | £8,451 |
|
30.1p | 31.5p | £7,639 |
|
29.8p | 54.2p | £7,643 |
|
32.6p | 62.3p | £8,368 |
 |
27.8p | 97.9p | £7,311 |
|
30.8p | 25p | £7,785 |
|
27.6p | 182.6p | £7,578 |
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Electricity for Small Businesses
Our online comparison platform specialises in helping small businesses find great deals on their electricity in just 60 seconds.
We built the self-service platform with small businesses in mind, knowing time is precious and they often do not get the chance to deal with electricity tariffs during office hours.
Compare and switch anywhere, anytime in just a few clicks.
Business Electricity for Large Businesses
We have a team of business electricity experts that deal with large consumption organisations.
We have helped hundreds of organisations build bespoke tariffs that meet the requirements of complex businesses.
Securing great rates is what we do - are you ready to get your business electricity quote?
What Business Electricity Tariffs Are Available?
Understanding the best tariff for your business can save you even more money than a straightforward switch. You may be tempted to opt for a tariff that you have had for many years and you may be unknowingly missing out on some savings.
The first step to this assessment is understanding how your business uses electricity. For example, you may prefer a little more flexibility in contracts with a variable tariff but this means you could be missing out on cheaper unit rates and stability with a fixed tariff.
Here’s a breakdown of some of the tariffs available:
Fixed Rate Electricity Tariff
A fixed-rate electricity tariff offers a set unit price for each kWh of electricity you use.
Many businesses prefer fixed-rate tariffs as they offer certainty and avoid any sudden increases in costs.
It’s worth bearing in mind that your monthly bill will still vary depending on the amount of energy you use.
Variable Rate Electricity Tariff
A variable rate tariff gives your business more flexibility than a fixed rate deal. Your unit rate will change throughout your contract depending on the cost of wholesale prices.
Businesses comfortable with changing unit rates may switch to a variable rate deal to take advantage of any reductions in the price of electricity during their contract.
However, when prices increase, you will not be protected against this on a fixed rate tariff.
Rollover Tariff
Businesses that have not agreed to a new deal with any supplier may be placed on this type of tariff.
This is often a one-year contract that is legally binding and is often more expensive than the wholesale market rates.
This is often a tariff that businesses avoid due to their contract and expensive unit rates.
Economy 7 Electricity Tariff (Multi-Rate)
An Economy 7 tariff offers multiple electricity prices for different times of the day.
This will usually be a peak rate during the day and a lower off-peak rate in the evening and at night.
If your business uses most of its energy in the evening or at night, you could save money by switching to a multi-rate tariff.
No Standing Charge Tariff
Most business electricity tariffs will feature a daily charge. This cost is applied by the supplier to cover billing, maintenance and other admin costs.
This is a fixed daily charge applied to your electricity bill. A no-standing charge tariff removes this charge from your contract.
These tariffs can benefit businesses that operate seasonally or only open a few days a week. It’s worth bearing in mind that your unit price may be more expensive on a no-standing charge tariff.
Green Business Electricity Tariff
Sustainability is becoming increasingly important for many businesses. A green business electricity tariff is a great way to meet your environmentally friendly aims.
Most renewable energy suppliers will match the electricity you use by purchasing energy from renewable sources.
Many suppliers now deliver renewable electricity tariffs as standard.
Business Electricity FAQs
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How Long Does It Take to Switch Business Electricity Suppliers?
We'll aim to complete your electricity switch within 5 working days.
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When Should I Switch Business Electricity Suppliers?
Most businesses will simply decide to switch suppliers as their contract comes to end. However, certain times of the year can potentially offer better deals.
Switching during the summer months can offer cheaper rates on both gas and electricity tariffs. Keeping an eye on the wholesale costs of gas and electricity can help you identify when the best rates may be available.
However, if you’re switching outside of your renewal window, you may face exit fees from your current supplier.
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Am I Required to Pay VAT on Business Electricity?
VAT rates of 20% will apply to your business electricity bills. However, not-for-profit organisations may be eligible for a reduction in VAT to 5%.
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Can I Switch my Business Electricity for Multiple Sites?
If your business has more than one location, it can become complicated managing multiple energy contracts.
A multi-site tariff can allow your business to consolidate your tariffs into one contract. With multiple locations, your business may be entitled to discounts due to a greater buying power. At Energy Helpline, we can help your business find a great deal across your locations.
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Can I Switch my Business Gas at the same time?
Yes, you can switch business gas at the same time with Energy Helpline. Although you will have two separate contracts for your business gas and business electricity, switching them at the same time makes it much easier to manage your business energy bills.