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How Electricity Tariffs Cost Your Business Money

If you were to perform a business electricity tariff comparison, then you might be surprised at the difference in prices between the available tariffs. There is a wide range of them, and having the lowest one can save you lots of money every year. You won’t know if your rate is any good, however, until you do the comparison.

You can use price comparison sites to find out what the rates are and see at a glance where one company stands as compared to another. If you haven’t signed up for business electricity yet and agreed to a contract, then you have your pick of them. If you have signed up already, then it may be time to reevaluate your current rates and take action to get better ones.

How the Rates Are Determined

You should know what kind of rates you are looking at. There are two separate rates being charged to every person who uses business electricity. The cost per unit is the charge most people think about. This charges you per kWh (kilowatt hour) or unit of electricity. So, every unit you use would be charged at this rate. This is the primary rate you would be comparing from one electricity supplier to the next.

The other charge is called the standing charge, and it is a daily tariff you pay based on the size of your business and the cost of sending you electricity. That rate is different based on what size of the company you have. Small businesses are charged at a lower rate than large business. You are also charged differently based on where you have your business. If the electricity supplier has to send power to you from far away because you live way out in the country, then you will be charged more for the standing charge than someone would who be located in the city, near to the power station.

You have to understand this breakdown of rates to really know if you are being charged a low price or not. You may be getting a great per unit rate but a poor standing charge rate, and it could be something the electricity supplier has no control over due to where you are located.

You should also be aware of the way you are being charged. If you are charged every half hour, then you are likely paying much more than someone who is charged hourly. While an hourly charge is standard, there are some electricity suppliers out there charging by the half hour, and their subscribers are paying far more for their power than they need to be.

Doing the Comparison

The best way to make sure you get a good rate is to do a business electricity tariff comparison. When you compare those rates, you become informed as to what a standard rate is like and what is a good deal. You won’t know whether your current rate is a good one or not until you have done that.

You can perform a price comparison as often as you need to at price comparison sites. These sites give you the tools to check out quotes from providers in your area for your particular business size. Every business should take the time to compare rates and ensure they are getting a good deal, even if they are already signed up for a particular rate.

Price comparison sites are there for you to use as often and as freely as you like. They provide a free resource that enables you to know what the rates are at all times. By doing a business electricity tariff comparison, you can know what the going rate is and what would qualify as a good deal.

Many times, the comparison sites do provide an estimated price. It’s the same estimate you would get from the electricity supplier itself, however, until you give them more details. The comparison sites usually only ask for a few pieces of information to give you a quick quote. The actual price may differ slightly, but it’s going to be very close.

Many price comparison sites also offer price negotiation services. People who are already signed up to a contract can benefit from this just as easily as people who have not yet signed a contract. You can renegotiate your current rates, and if the electricity supplier agrees, then they will likely ask you to sign a longer contract with them.

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