Energy bills are difficult to understand. They're littered with complex terms and abbreviations which can make it hard to work out what you’re paying for.
It’s no surprise that many people don’t bother to even try to work it out. They just glance at the total then pay up! However, understanding your bill from your energy supplier is very important for your business. After all, how can you be sure that you’re on the right deal?
The greatest benefit that comes along with understanding your company’s energy bills is finding ways to save money for your business. When you’re aware of the tariff you’re on and the amount you’re being charged for every unit of electricity or gas you’ll be able to determine whether you’re paying over the odds.
Simply by understanding a handful of details, you’ll be in a stronger position to switch to a provider who can offer you a better deal.
The first thing to know about understanding your bill is to work out the tariff that you’re on. You should find this on the bill, usually on its front page. If you’re on a standard tariff, this is a red flag. Usually, this is the worst kind of tariff, with fluctuating prices and no benefits or perks. On the upside, however, you won’t be tied into a standard tariff, so you’ll be free to change at any time.
Electricity and gas units are measured in kilowatt hours (or kWh). Your bill will tell you the number of kilowatt hours you used during the period of your bill. This information will tell you which times of the year you’re using more energy so you can reduce your usage.
You’ll see the payment method you’re using outlined on your bill too. If it isn’t monthly direct debit you might want to consider making the switch as this is widely regarded as a cheap way to pay for your bills.
Two other details on your energy bill are your MPAN and MPRN numbers. These are unique to your meters and make it easy to identify which meter is which when you’re switching energy suppliers.
Your MPAN (Meter Point Administration Number) is for your electricity meter, and is sometimes called an Electricity Supply Number. It’s a 21 digit number split into sections, and should be located on your bill (usually in one of the corners).
Your MPRN (Meter Point Reference Number) is a unique number for your gas meter. It’s 6 to 10 digits long and should also appear on your energy bill.
Note that these numbers are not the same as your customer account number.
When you understand the information provided on your energy bill, the next step is to use it to get a cheaper deal which is better for your business. If you’re already on a fixed rate deal, you might need to wait for the contract to end before switching, but if you’re on a standard tariff, switching any time is possible.
Here at SwitchPal we make it easy to change energy provider and to get a better price for your business. Contact us today by completing our online form with your details. We’re here to make it easy to compare providers and find the perfect price.
When you move into new premises with no formal energy arrangement in place you’ll find yourself on a deemed business rate contract.
Are you struggling to understand your commercial energy bill? If so, read on to learn more about how to read your business gas and electricity bills.
Business meters automatically capture your company’s electricity usage every half hour, night and day, and relay it to your energy provider in real time.
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