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Learn more about energy prices, what you should be paying, national averages & what helps dictate the price of energy.

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What is a Microbusiness?

A non-domestic consumer is defined as a microbusiness if they:

Employ fewer than 10 employees (or their full time equivalent)

An annual turnover or balance sheet no greater than €2 million

Uses no more than 100,000 kWh of electricity per year

Uses no more than 293,000 kWh of gas per year.

Your business will qualify as a micro-business for both gas and electricity if it meets the employee and turnover or balance sheet criteria. If it doesn’t meet those criteria but your business uses no more than the defined usage for either gas or electricity, it does qualify as a microbusiness for that fuel. If it uses no more than the defined usage for both fuels, it qualifies as a microbusiness for both gas and electricity.


How much should your business pay for energy?

When you compare business energy rates, it could be possible that the rates you’re quoted will be higher than the rates you’re currently paying. This is because inflation means prices tend to go up over time. If you’re renewing after a long-term fixed deal, rates may have risen considerably since you last took out a new contract.

And even though energy prices have been coming down since they spiked in 2022, and the market has become less volatile, rates are still higher than at any point since about September 2021.

We aim to find the best possible rates for your next energy contract compared to what you would be facing elsewhere or with your current supplier’s out-of-contract rates. Unless you signed a contract when prices were at their highest, it’s unlikely that you’ll be able to get rates lower than those you’re currently paying.

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Average Business Rates

Our experts will support you with the switch, but it always helps to be armed with a bit of knowledge before you run a business energy comparison. When looking for the best business energy rates, it’s worth knowing what rates similar-sized businesses are paying. To find out what the average gas and electricity rates per kWh are in 2024, check out the table below:

Latest business gas rates in 2024

Business Size Gas unit price per kWh Gas daily standing charge
Micro Business 8.9p 33.1p
Small Business 8.5p 36.6p
Medium Business 8.3p 79.2p
Large Business 8.4p 55.7p

Latest business electricity rates in 2024

Business Size Electricity unit price per kWh Electricity daily standing charge
Micro Business 26.6p 64.6p
Small Business 25.6p 83.0p
Medium Business 26.1p 65.5p
Large Business 26.4p 68.5p

Note: Prices are correct as of January 2024. Rates and bill size may vary according to your meter type and business location. The prices you’re quoted may be different from the averages shown. The figures shown are the average unit rates and standing charges quoted by us per business size from January 2 to January 5, 2024. Rates do not include Business Energy Bill Relief Scheme.


What types of business energy deals are available?

When comparing new business energy deals, there are four main types of tariffs to choose from:

Pass through tariffs

A pass-through tariff splits your bill in two between the wholesale energy costs, which is fixed, and the other elements that make up the unit rates, which vary and are most suited to businesses who don’t need price certainty.

Fixed term energy tariffs

These usually last between one and four years, during which time the unit cost and standing charges stay the same.

Flex approach tariffs

With this type of tariff you can take advantage of favourable wholesale rates by buying your energy for the months or years ahead, usually when costs are low.

Blend and extend tariffs

These deals allow you to extend the length of your current contract with the same supplier, who will then reward your loyalty with lower rates.

Each is designed to meet the different needs of business energy users. To find out more, contact us.

Prices Frequently Change

What affects business energy prices?

It might feel like energy prices are always rising, but they actually fluctuate, which can make the timing of your switch all the more important. There are a number of reasons why prices go up and down:


The weather

There are a few ways the weather can affect energy prices. A cold winter increases the demand for energy to heat our homes and workplaces and so prices go up. But as we're using more renewable energy sources - a drop in wind means more natural gas is diverted to power stations, leading to increased prices. Energy suppliers buy wholesale energy in advance, and prices are linked to forecasts. This means that if a ten-day forecast suggests that there will be particularly good weather, then short-term forward prices will probably fall. Long-term temperature forecasting is more difficult but can still affect prices.

The price cap

Introduced to end 'rip-off' energy prices, the price cap has given suppliers a baseline they can use for their energy prices. As predicted by many before the cap kicked in, prices are bunching around the level of the cap, which means there are fewer and fewer competitively priced deals, even if you switch to a fixed rate tariff. Although the price cap only directly affects domestic energy customers, prices have risen right across the board.

The strength of the pound

As with any commodities, fluctuations in currency value can affect the cost of energy. As the UK imports a lot of its energy from Europe, the strength of the pound against the euro plays a part in costs. If the pound is strong against the euro, then prices should fall as energy is cheaper. If the pound is weak against the euro, prices are likely to rise. Brexit is one reason why prices have risen.

Global Events

Oil prices are influenced by global events, and it can all come back to supply and demand - if there's conflict, uncertainty, or a natural disaster in a country that produces oil or gas, this will limit production and accessibility, which then pushes up prices. For example, in 2019, a political crisis and U.S. sanctions on Venezuela caused a spike in oil prices that pushed up global energy prices.

An increase in demand

Energy prices dropped to record lows during the first lockdown of 2020, as industrial energy demand plummeted. But as things return back to normal and the demand for power increases, the prices increase.

Distribution and transport costs

These include green taxes like the Climate Change Levy (CCL) payments which make up other costs you pay for aside from wholesale energy.