Energy prices are barely out of the news these days – soaring wholesale gas prices have put household and business energy prices up to record levels. And today’s energy price cap announcement means domestic energy bills will increase by £693 for millions of households from April 1 this year.
But if you’re a business owner and you have a dedicated premises for your business, you won’t be protected by the price cap. This situation has seen some commercial suppliers put their out of contract rates up by as much as 120%.
In this instance, it makes sense to compare business energy and switch if you can get better rates. If you run a large business or SME, it makes sense to take out a business energy deal as you can often negotiate cheaper gas and electricity rates than if you have a domestic energy deal at your business premises. But what if you work from home or run a micro business?