Small Business Gas and Electricity FAQ
What is a small business gas and electricity deal?
A small-business gas and electricity deal is provided to small businesses that require both gas and electricity to function as a business in their day-to-day work. A large number of providers offer quotes on both.
Can I get a dual fuel deal like a household?
Despite being a small business, you still won’t be likely to be able to get hold of a dual fuel deal as household consumers can. Businesses are generally expected to find separate quotes on gas and electricity. This requires an extra level of research, so make sure both quotes on gas and electricity are affordable.
How do I know whether it’s time to switch providers?
This can depend on how you feel your current provider serves your needs. If you feel like service is inadequate, or you suspect you could find a cheaper deal on gas and electricity for your business, do some research before you switch providers. Take note if you are on a fixed-term contract however, as this may limit you from seeking a new provider until the contract runs out. Variable-rate deals on the other hand will typically offer you greater flexibility to switch if you feel the need to.
What kind of small business gas and electricity deals are there?
Deemed rate deals occur when you don’t seek a new deal to replace your current gas and electricity deal for your business. They can prove to be one of the most costly options, typically charging higher tariffs.
Fixed-rate deals allow you to pay a fixed price per unit on electricity and gas over an agreed period of time. These small business gas and electricity deals are locked in, so make sure you are completely satisfied with the arrangement before signing anything.
Due to being a smaller business, higher costs on gas and electricity deals will have a disproportionately higher impact on you. Your provider should notify you when your contract is due to expire, so it may prove cost-effective to plan a new deal in advance of your expiry date.
Is a variable rate small business gas and electricity deal more cost-effective?
Variable rate deals on gas and electricity have the potential to fluctuate when it comes to overall costs, due to market forces determining the price per unit. Fixed-rate deals determine price-per-unit costs by consumption. It would be wise to work out what your consumption levels may be, and whether you could handle any sudden extra costs.
If a small business gas and electricity deal is unsuitable, can I cancel it easily?
Small and large businesses can’t just cancel gas and electricity contracts, as you will have been expected to be fully aware of the terms and conditions applicable at the time of signing the deal. Read the small print before signing anything, to avoid any nasty surprises or complications during your search for a new deal or provider.
