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Business Electricity Prices why are they so high ???28-Mar-2020 byParminder Chopra
Business electricity prices are up and down, this is due to many different factors, but there is a way Edanpower can help control your bills by auditing how much you are paying on your standing charge and Unit rate price. Edanpower understand Business Electricity prices and the terms used by Electricity suppliers, we understand also what a good price for your business needs is allowing us to essentially help you save money on your electricity costs.
Price per kWh
kWh is how energy is measured a 1000-watt light bulb needs 1000 watts (1 kWh) of power to make it work and uses 1 kWh of energy in an hour. The kWh is called a unit rate in the energy world, electricity is charged by the kWh, so your business electricity bills are calculated according to how much KWH you have used.
Why do business Electricity bills vary so much?
Suppliers will charge different rates business location is on factor other factors that determine the charges are your payment method and your tariff and if you are in or out of a contract and again Edanpower can help your Business with this
Whats a Standing charge
Standing charges are the costs of having an electricity supply, bit like a mobile phone contracts monthly rental. It’s normal fixed on a monthly or daily amount and does not change its fixed no matter how much electricity you use. Standing Charges vary from supplier to supplier, average standing charge for businesses is 28p a day, but this can vary from 10p and go as high has £2. The reason the standing charges vary so much is dependent on how much power your company uses, in a nut shell the higher the standing charge the lower the unit rate Edanpower assess this for you to make sure you get the correct balance on your electricity contract, example if you’re a florist that has hardly any business electricity usage your better off having a low standing charge, on the other hand if you’re a plastic manufacturing company with high business electricity usage a high standing charge with a lower unit rate will be more cost effective.
What about no-standing charge deals
No standing charges mean you just pay for the electricity usage.
Only a few suppliers offer these types of contracts but be warned only if your electricity usage is low, will a no standing charge contract benefit you. they are good for circumstance such as if your business operates only seasonally and is shut for certain times of the year, Edanpower can assess if these will work for you or not.