Business Electricity and Gas Overview

Business Electricity

Suppliers of electricity for businesses will offer each business a bespoke contract. This will be tailored to serve the business’s consumption needs and already imbedded habits.

The growth of the world’s economy has caused demand to rise, keep rising, and has pushed our gas prices up seemingly half way toward the moon. In 2002 these prices rose exponentially, which only served to fuel the rising prices of electricity.

The price of electricity is largely influenced by wholesale gas prices- 40% of the UK’s electricity is generated by power stations. Rising oil prices have also pushed up our wholesale gas prices.

Half Hourly Electric Meters

All businesses will have their energy usage monitored and measured. Businesses that consume high levels of electricity will have their usage monitored by a ‘half hourly meter’- half hourly meters automatically submit a reading to your supplier every 30 minutes. This helps to ensure that your bill is accurate, and abolishes the need for you to fuss about supplying and submitting your own readings.

With this meter you will be able to track any energy efficiency measures you might have implemented to reduce your business’s consumption.

In conjunction with having this meter, you will need to have a Meter Operator (MOP) Agreement, and a Data Collector (DC) – the first relates to the maintenance of your meter, and the second to the processing of your readings.

Prices of these meters differ, but they will often boast slightly cheaper rates due to the suppliers need to secure business custom.

Is a meter right for my business?

If your business uses 100KVA or more in a 30 minute period then it is obligatory for you to have a half hourly meter. However, if your peak demand reaches 70KVA you can also have a meter installed.

Business Gas

SwiftSwitch will let you in on a little secret: Gas is Gas.

‘Business gas’ is a term used by the energy industry to help them describe the gas contracts they offer up to businesses, and to help them highlight the distinction between those contracts and the domestic ones.

Bespoke Contracts are Essential

The size of a business, for instance whether it is a small shoe shop on brick lane, or a nationwide chain of restaurants, will determine the type of gas contract it needs. The way in which they consume energy, and the amount of it they use, will inevitably differ.

Because businesses require tailored contracts, gas suppliers have to offer up flexible contracts.

The only detriment to requiring a bespoke contract is that a cheap deal may be either hard to source, or unfortunately, hard to even recognise.

Being savvy and understanding the market, the rising gas prices etc., would of course help you on your road to sourcing the correct deal for your business if there were enough hours in the day. But, sadly for the fine people of the business world, there aren’t. Not to worry though, this is why SwiftSwitch exist: to help make the switching process simple and quick, and to alleviate the time consuming, brain-aching burdens that come with it.

We would love to hear from you. If you want to save money, time and hassle on your utilities, get in touch and have a chat with one of our energy experts.

You can call us on 020 7701 5189 or email us at hello@swiftswitch.co.uk