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With a fixed-rate tariff, your business will pay the same price for electricity for a certain period of time, usually one year. This is often the cheapest and most popular option, because you know exactly how much you’ll be paying for electricity each month.

If you want your business to be more environmentally friendly, you can choose to buy electricity from renewable sources like solar or wind. It’s getting cheaper to buy renewable energy, so it’s a good option for businesses that want to be sustainable.

A pass-through tariff is a type of electricity bill that has two parts: a fixed price for the electricity itself and a variable price for other costs, such as delivery and taxes. The variable price can change several times per year. Pass-through tariffs are best suited for businesses that are closely watching their energy costs and can switch to a different tariff if the price gets too high.

With a variable rate business electricity tariff, your bill can go up or down depending on the market price of electricity. You may be able to save money if the price goes down, but you may also have to pay more if the price goes up. Variable rate tariffs are usually more expensive than fixed rate tariffs, but they are also more flexible.

If you don’t switch business electricity suppliers before your current contract ends, your current supplier may automatically put you on a new contract. This contract will be for a fixed period (usually one year), and you will have to pay the rates that the supplier sets. The rates on rollover contracts are often higher than the rates on new contracts, so you may miss out on cheaper deals. It is important to compare business electricity rates before your current contract ends to make sure you are getting the best deal. You can use a comparison website to compare rates from different suppliers.

If you have recently moved into a new business premises and do not have an electricity contract, you may be automatically put on a contract with the previous tenant or owner’s supplier. This contract is called a “deemed tariff” contract, and the rates are often higher than the rates on new contracts. You should switch to a new supplier as soon as possible to save money. It is important to note that deemed tariff contracts are usually rolling contracts, which means that you can cancel them at any time with 30 days’ notice. However, you should still compare rates from different suppliers before switching to a new contract to make sure you are getting the best deal.