Business electricity prices

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Business electricity prices per kWh in November 2024

The table below shows the average one-year fixed business electricity rates available over the past month.

SizeAnnual Consumption kWh1 Year fixed elec rate p/kWh
Small10,000 to 50,00023.9
Medium50,000 to 100,00021.9
Big100,000 +21.7

These figures provide an average to give you an idea of the current market. Business electricity rates depend on your region, annual consumption, and daily market fluctuations.

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Current business electricity rates

Understanding how business electricity prices have evolved can help you make more informed decisions about when to fix business electricity rates. Below is a graph illustrating the changes in business electricity rates over the last 2 years.

Latest business electricity rates graph 30 October 2024 update

Average business electricity rates

The table below presents the average business electricity rates from 2021 to 2024. Tracking historical electricity rates can be crucial for businesses planning their budgets and energy strategies.

SizeAnnual Consumption kWh2021 average rates p/kWh2022 average rates p/kWh2023 average rates p/kWh2024 average rates p/kWh
Small10,000 - 50,00014.6253.3727.2923.15
Medium50,000 - 100,00011.8951.3725.3021.15
Big100,000 +11.6951.1725.0920.95

💡 This data provides a clear overview of how prices have fluctuated over the past few years, helping you to understand longer-term trends and make informed decisions about fixing your business energy prices.

Sources – The tables and graphs presented above are sourced from: AquaSwitch business electricity prices

Average business electricity usage

Estimating your business’s annual electricity consumption is essential when collecting quotes from business energy suppliers.

The table below shows the average annual electricity consumption for different sizes of British businesses:

Business SizeAverage Annual Electricity Consumption (kWh)
Micro7,500
Small Business20,000
Medium Business35,000
Large Business90,000
Industrial250,000
Average British Home2,900

Source: Statistica Business Energy Consumption UK

The best ways to estimate your annual electricity consumption is to:

How to get the best commercial electricity prices

Securing the best business electricity prices is essential for keeping costs under control.

Our experts present the top three tips for getting the best commercial electricity prices.

For more advice, read our guide to business energy procurement strategies.

<h3>Compare Multiple Suppliers</h3>

Compare Multiple Suppliers

Don’t settle for your business electricity renewal quote. Compare quotes from multiple suppliers to leverage the competitive market and find the best rates.

<h3>Fixed-rate Electricity Contracts</h3>

Fixed-rate Electricity Contracts

Energy suppliers offer their best rates as simple fixed tariffs to attract new customers, providing stability and predictability in electricity prices.

<h3>Accurate consumption estimate</h3>

Accurate consumption estimate

Accurately estimate your business’s annual electricity consumption so you can assess and compare the estimated annual costs of quoted tariffs.

Best business electricity prices

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What affects business electricity rates?

Understanding the factors influencing business electricity rates can help you make more informed decisions when selecting a business energy contract.

Here are the key elements that impact the pricing of commercial electricity:

Market conditions

Market conditions

Electricity prices are subject to the broader energy market dynamics, including changes in supply and demand, fuel prices, and geopolitical events. These fluctuations can cause prices to vary significantly over time.

Your business location

Your business location

The British national grid is composed of regional electricity distribution network operators (DNO) grids. The price of electricity in your area depends on local DUoS charges.

Time of use

Time of use

Companies with an Economy 7/10, half-hourly, or a smart business energy meter can use multi-rate tariffs, where the price of electricity depends on the time of day it is consumed.

Green electricity

Green electricity

Green business electricity contracts are typically a bit more expensive, but the electricity will be generated from zero-carbon sources such as UK wind farms and UK nuclear power plants.

Capacity

Capacity

Business electricity connections with maximum demand exceeding 100kW will incur an additional monthly capacity charge and half-hourly meter MOP charges.

Business electricity prices FAQs

Our team of business energy experts has compiled answers to some of the most common questions about business electricity prices.

This section is designed to provide you with detailed insights and practical advice to help you navigate the complexities of choosing the best electricity plan for your business needs.

What is the average business electricity bill?

The average business electricity bill can vary widely depending on several factors, including the size of your business, industry, location, and energy consumption patterns.

In our guide above, we’ve provided average business electricity rates and consumption. Using these as a guide, small businesses might expect to pay from £1,000 to £2,500 per year, whereas medium-sized businesses may see bills ranging from £2,500 to £5,000 annually.

Are business electricity rates cheaper after 6pm in the UK?

In the UK, business electricity rates can be cheaper after 6pm, which is considered an off-peak period. However, to benefit from reduced off-peak rates, your business must be equipped with a multi-rate meter and be on an off-peak business electricity tariff.

Off-peak tariffs are designed to offer lower rates during times of lower energy demand, typically overnight and on weekends. If your business operates extensively during these hours, switching to an off-peak tariff could result in significant savings on your energy bills.

What is a kWh?

A kilowatt-hour (kWh) is a unit of energy measurement that represents the amount of energy used when a 1,000-watt appliance runs for one hour. For example, if you use a 100-watt light bulb for 10 hours, you will have consumed 1 kWh of energy.

The business electricity meter in most commercial properties records the number of kWh that have been consumed over time.

Do business electricity prices vary by region?

Yes, a significant component of business electricity prices is determined by electricity distribution costs.

The distribution costs depend on your local electricity distributor operator. Prices are typically most expensive in Merseyside & North Wales and cheapest in the East Midlands.

Are business electricity prices coming down?

Predicting future business electricity prices is challenging due to their dependence on a variety of unpredictable factors, such as geopolitical events, changes in supply and demand, and regulatory developments. These elements can cause significant fluctuations in energy prices, making it difficult to forecast long-term trends accurately.

A fixed-rate business electricity tariff can shield your business from unexpected fluctuations in electricity prices. Visit our business electricity comparison page to get quotes for your business today.

Will my business electricity prices rise mid-contract?

It depends on your current business electricity tariff. In a standard variable tariff, your business electricity prices per kWh can increase or decrease depending on market conditions.

In a fixed electricity tariff, there are only limited circumstances where your business electricity rates can change.

How do I negotiate a better business electricity deal?

In the last year of a business electricity tariff, your supplier will automatically send you a renewal offer, which sets the rates that apply when your current tariff ends.

This is the best time to negotiate with your current supplier to get a better business electricity renewal offer; here’s how:

  • First, compare business electricity rates from other suppliers to get an idea of how competitive your renewal offer is.
  • Then, contact your current supplier’s customer services department and ask them to match the best electricity quote you’ve received from other suppliers.

Business electricity suppliers don’t want to lose customers, so this is the point where you’re in the best position to negotiate a better deal for your business.