Understand Your Business Energy Bills
This is your fundamental right to understand your business energy bills and come to know whether you are paying for what you consumed or overpaying due to a lack of understanding of your energy bills. Your bill has all the basic information you need, the only thing matters are to understand and measure your energy costs.
Understanding the better deal through your energy bills can be an added advantage. You can compare the deals in a better way when you understand your energy bill.
There are different factors that you see on your bill and affect the price you pay. Spending a few minutes on your energy bill can give you clarity on your spending. Let’s take a tour and see the important things on your business energy bill
- Standing Charge
This is the rate you pay for your business premises supply each day regardless of how much energy you actually use. Business electricity tariffs always do have a standing charge, however, on some business gas tariffs, it may not be included. If you have any queries regarding your business energy bill, you can contact the Business Energy Switchers team who will provide you impartial advice.
- Unit Rate
The amount you pay for your electricity and gas usage in kilowatt-hour (kWh) is called Unit Rate. This amount is completely dependent on how much energy you use and the unit rate is measured in pence per kilowatt per hour for electricity and gas both. The unit rate is the fee charged for every unit of energy consumed.
- Contract End Date and Notice Period
This is compulsory for suppliers to include a contract end date and notice period on your business energy bill. These dates help you to compare and decide a great deal. You can compare the deals within the contract period so that you can ignore last minute rush and hassle. If you want to switch the supplier, you will need to give notice well in advance to the existing supplier and you can choose the new provider as per your energy usage.
- Value-added tax (VAT)
A VAT is the 20% amount that companies pay on their business energy bills. However, you will only have to pay 5% if you use less than an average of 33 kWh of electricity or 145 kWh of gas per day, or you have a residential or domestic element to your business.