What to keep in mind when doing an energy price comparison?

3rd Mar 2022 | Mollie Pinnington | 5 minute read

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When it comes to switching energy suppliers it is important to make sure you compare business energy deals from several suppliers. If you have ever done a business energy comparison you will know the feeling of wondering whether you got the right deal or whether you could have gone with a better supplier. At Online Energy we have energy experts that can do all the hard work for you. However, we know when it comes to price comparison a lot of customers want to know how this is done and if they can reduce energy prices internally. 

Therefore, we have compiled some of our best tips to help you get the most out of an energy price comparison. Making sure your energy price comparison has been done right will allow you to take control of your energy bill. This could also save you money in a few simple steps.


What should you know when doing an energy price comparison?

Before doing a business gas comparison or business electricity comparison, you might find it helpful to know these details first.

  • The name of your current supplier
  • How much you approximately spend on gas and electricity
  • What tariff you’re currently on
  • How do you normally pay e.g., direct debit or cheque?
  • How you would like to pay in future


When doing a business energy comparison, it is important to remember that you not only want a supplier with the cheapest deal but a good service that is going to benefit your business. Finding prices from several energy suppliers might seem manageable. But how do you know you are getting the right deal for your business?

Before you start comparing prices it may be useful to know a bit more about the energy market and understand business energy prices.

Many energy consumers will usually opt for using a comparison service when finding a new energy supplier. This is because trusted comparison sites will have a well-established relationship with suppliers.

This may help you get an even better gas deal or electricity deal. They may also have exclusive deals with energy suppliers they are partnered with. Therefore, a cheap deal that is found through one company may not be available through another. See what suppliers we are partnered with to get you the best deals.


How much can I save by comparing and switching suppliers?

Switching suppliers should be an important part of keeping your energy budgets down within your business. Many energy consumers will often stay with one energy supplier and be put on a default tariff when their initial energy contract is over. This could mean you are paying out significantly more for your gas and electricity than needed this is because deemed rates are usually amongst the highest energy rates your supplier will have.

Over half of SMEs in the UK don’t want to change their business energy supplier as they think the switching process is too difficult.  This has led to around 65% of business energy consumers paying more than needed for their business energy.

Therefore, by taking the time to compare business gas prices or do a business electricity comparison, you could be saving your business a lot of money during the switching process.


Tips to help you compare on your own

Firstly, you need to make sure you are at the right time to switch. To avoid any exit fees from your business you need to make sure that you switch during your renewal window. This is the time you can start looking for other suppliers to switch your contract to once your current one is finished. 

Next, you would need to find quotes from different energy suppliers. Once you have a list you would then compare all of the quotes based on the supplier’s prices and the attributes that will support your business needs the most.

Finally, you would need to apply for your new energy tariff and inform your current supplier that you are switching to a new business energy supplier.

The switch will then come into effect when your current contract ends with your current supplier. Then your contract will begin with your new supplier.


How online energy can help you compare business energy

If like many SMEs or business owners, you find comparing energy prices and switching energy suppliers too difficult or too much of a hassle then our online switching service could help. We have trusted relationships with over 24 UK energy suppliers. This allows us to get bespoke prices for business energy needs. We can help you compare business energy online in one hassle-free process.

If you prefer finding online business energy our service will also benefit you. All we need you to do is enter your postcode at the bottom, provide us with some information to help us get the right deal for you, and then our energy experts will take care of the rest for you.

If you’re looking to switch business energy suppliers today, then use our price comparison tool or even get in touch to see how we can help you.


What is the most popular way of switching business energy suppliers?

The most popular way for people to switch is using a price comparison website. Around 55% of energy consumers use this to compare business gas and electricity. This is most likely due to how easy and quick using one of these sites is for finding an energy contract.

The least popular way to switch energy contracts was using an automated service. This may be because of the lack of involvement you may have in the switching process many people want to make sure that their money is going to the right place.


What issues should I look out for when comparing energy deals?

One of the biggest issues you may face when it comes to comparing energy prices may be finding prices for your specific meter. Many comparison sites or even suppliers may not offer services for some types of meters. However, if you are struggling to find energy prices for a certain meter then you can always get in touch with us at Online Energy. Even though we may not offer prices on our website if you require a more complex contract, then we may be able to offer bespoke prices.

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