Energy Suppliers UK
Struggling with your commercial energy bills?
You’re not alone.
Thousands across the country are floundering at the deal they’ve been offered. That’s where we come in handy. Energy auditors act as a broker between you and an endless list of UK energy suppliers. It’s our vocation to establish whether you would be better suited to an alternative deal. According to Ofgem – the government regulator for gas and electricity – 28% of customers moved to small and medium suppliers (January to October 2020). These smaller and medium suppliers often offer cheaper tariffs and at better rates!
Power Audit UK undertakes impartial examinations of your site and its business practices. We’ll assess a number of factors, such as the function and scale of your business. After all, it’s no good being charged factory prices when you work in an office! Yet regardless of your business’s size, location or energy consumption, we’re here to help you. We whittle down our choices from dozens of suppliers offering hundreds of contracts. Can you imagine doing that alongside the daily humdrum of your business operations? Its painstaking work to the uninitiated but fret not, we do all the legwork for you.
Should we big up the Big Six energy suppliers?
Okay, first things first. “The Big Six” is the colloquial term applied to the six biggest energy suppliers in the UK. According to Ofgem, the Big Six hold a combined market share of up to 72%. However, in the previous decade, they dominated the market with 100%. Why the sharp decline? How have they lost a just over a quarter of the market? Before we question whether to big them up, why don’t we first summarise each of them:
- Supplies gas and electricity to around 13 million UK customers
M. 1973. Began life as a state-supervised gas supplier, known as “British Gas Corporation”. However, it has a storied history dating back to the reign of King George III. It’s the biggest energy supplier and (as of 1997) is owned by the British utility multinational Centrica.
- Supplies gas and electricity to around 5 million UK customers
M. 2002. Came about after the acquisition and merger of several British energy companies. Today, it is owned by the French-state controlled EDF. As of 2009, it is the largest provider of electricity due to its acquisition of nuclear generator British Energy.
- Supplies electricity to around 3.8 million UK customers
M. 1989. Formally Powergen, one of the original companies formed after the 1989 Electricity Act. In 2007, it became E.ON after being acquired by the German energy company, E.ON AG. Its namesake is derived from the Greek word aeon, which means age.
- Supplies gas and electricity to around 3.6 million UK customers
M. 2000. Formally National Power, one of the original companies formed after the 1989 Electricity Act. It became Innogy PLC in the UK in 2000, only to be acquired by German utilities company RWE. It was rebranded Npower two years later.
- Supplies gas and electricity to around 5.2 million UK customers
M. 1990. Formed after the 1989 Electricity Act, Scottish Power originated from the privatisation of the Scottish energy supply. Contrary to its name, it supplies energy for clients outside of Scotland and was later acquired by Spanish energy firm Iberdrola in 2006.
- Supplies gas and electricity to around 6 million UK customers
M. 1998. Began as a merger amidst a Scottish hydroelectricity project and the Southern Energy board. It was later acquired by the British energy supplier, OVO Energy – which was once one of over 15 smaller energy companies competing with the Big Six.
Okay, so that’s who they are. Should we big them up? Not necessarily. There’s a reason the Big Six have seen a sharp decline in growth retention in recent years. They faced criticism over their dominance over the market and manipulation of charges. Whilst unfounded, they were routinely accused of unfairly inflating charges in unison. Given their grip over the market, this was somewhat suspicious behaviour. It led to significant mistrust from businesses and smaller energy suppliers alike. Despite reviews from both Ofgem and the Financial Conduct Authority (FCA), no misconduct was found.
Who else is there?
Nowadays it seems that everyone in the UK is an energy supplier! It’s a lucrative business but not every supplier is as secure as they seem – or at least that’s what the vast majority of business owners seem to believe. For example, some think that if a smaller supplier went out of business, you would lose your energy with them. This isn’t necessarily the case. In the event of bankrupt suppliers, Ofgem will initiate Supplier of Last Resort (SoLR). This safety net will assign your business to a fit provider within days. This means you can reap the rewards of a more competitive tariff and better customer service!
So, if you’re considering whether to make the switch, we highly recommend doing so. You’ve got the statistics above at hand and it’s clear that the distrust in the Big Six is beginning to change the tide. That said, it’s not just a matter of circumstance. It’s a matter of timing. Your business could score a perfect deal with one of the Big Six. Energy brokers like us will be able to see through the mist and strike while the iron is hot. To do this, we’ll need a few things from you.
First, we’ll need your postcode. This will help us isolate the best electricity tariffs in your area. From here, our energy broker will ask how much energy you currently use. This is available to see on your latest bill. However, if you have trouble locating this, we’ll ask you a few questions such as your consumption habits. All that’s left is for us to filter the results to find the best supplier for you and your business. We’ll share our findings with you and you’ll be free to peruse a selection of tariffs. However, our energy broker will suggest the best deal – based on elements like the total cost, kWH rates and standing charges.
The following is an exhaustive list but there are many, many more suppliers available!
Concerned about your energy?
What: Power Audit UK
Who: Sean Taylor
With over 23 years of experience, Sean’s knowledge as a UK-based commercial energy broker is next-to-none. If you’d like to benefit from a full energy audit or any of Our Services, simply reach out and get in touch below! Sean’s worked across all sectors of business, including charities, schools and universities.
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1. Send us your energy bill
2. We will assess and research the market
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