Understanding Your Business Electricity Bills
What are business electricity bills and how can you reduce them?
Your business electricity bills are presented to you at the end of a given billing period. Electricity bills can provide your business with a range of useful information that can help you understand your charges and aid you in the search for a better business energy deal.
Your business electricity bill includes the following information:
- Your customer reference number
- Your billing period
- Your electricity usage (consumption)
- The amount you are being charged per kWh used (unit rate)
- Your standing charge
- Your payment due date
- The date range of your current business electricity tariff
How is your business electricity bill calculated?
Business energy bills are calculated using other usage information that is also included on your bills. The following factors are added together to produce a final billing amount for the specific period that your bill covers:
Your business electricity consumption x your unit rate- Plus your standing charge x period of billing
- Plus VAT
- Minus discounts
These figures can often be found on the back of your bill if you need to make the calculations yourself or to double-check the amount that you are being billed for.
Learn more about how business electricity bills are calculated here
Hidden factors in your electricity bill
Most simply pay their business electricity bill without reviewing the range of valuable information that they have been given.
This is a BIG MISTAKE! One of the easiest ways to discover whether you could save money on your business electricity is to check through your bill for a section that informs you of better deals that you can pursue with the same supplier.
It’s now a legal requirement for energy suppliers to inform you of when you could be saving money on their tariffs, therefore it’s always worth having a read through your business electricity bill to see if there are any hidden gems!
WARNING: This does not mean that you will be placed on the cheapest or best business electricity tariff in the UK energy market – It is simply the best option that your current supplier is offering you.
With Exchange Utility, you can benefit from superior buying power and great rates, so compare business electricity tariffs with us to discover if you can find a better deal with your current supplier or other UK energy providers.
How to measure efficiency progress using your business electricity bill
If you are keen to implement energy efficiency measures at your business then you can monitor your progress by checking the energy consumption figures that are shown on your business electricity bill.
If you are implementing energy efficiency measures well, you should soon see your electricity consumption fall – along with the cost of your business electricity.
Now that Smart Meters have been introduced, some suppliers even offer a breakdown to show you where you use the most energy. E.g. lighting, heating or appliances. If you are lucky enough to have this, then you can easily identify which areas to make more energy efficient first, meaning that you can make a bigger impact, sooner!
You can find lots of energy efficiency advice to get you started on our blog.
Other ways to reduce the cost of your business electricity bill
- Generate your commercial electricity: This way the National grid will have to pay you for any excess energy you produce via a Feed-In Tariff (FiT)
- Reduce your operation hours: Fewer hours, less time to use electricity
- Make all employees use energy-generating pedal bikes and hook them up to your computers and TV screens
- Review your business energy options with Exchange Utility: Our experts are trained specifically to help you reduce one of the biggest commercial overheads. They can advise you on the tariff most suited to your business operations and save you up to 40% on your bill spend.
To get started, all you need to do is grab a recent bill and call 0800 9777 000 or complete our business energy enquiry form to get started.