Good price electricity contract

[HFE Signs]

The time of enjoying my 15.3p/kWh comes to an end in February

Has anyone managed to get a decent rate? And what is a decent rate now?

Thanks guys

 

[WaveJumper]

I can't help with this one but 15.3p wow those were the days, I have a strong feeling your going to need to be sitting down when the rate suggestions start rolling in. Has your current provider given any hint of whats on offer.

Sorry meant to add I am sure one of our forum members is in this line of business hopefully he will pick up on this topic and give you a steer

 

[HFE Signs]

I can't help with this one but 15.3p wow those were the days, I have a strong feeling your going to need to be sitting down when the rate suggestions start rolling in. Has your current provider given any hint of whats on offer.

Yes, I feel very lucky to have enjoyed a great rate for this long, we've been quoted 87p. In real terms we'll be going from £1000 per month to over £5600 per month at the rate quoted.

 

[WaveJumper]

Yes, I feel very lucky to have enjoyed a great rate for this long, we've been quoted 87p. In real terms we'll be going from £1000 per month to over £5600 per month at the rate quoted.

Hells bells that a massive jump

 

[HFE Signs]

Hells bells that a massive jump

It seems a lot and when you couple that with the mortgage rise, raw materials costs and pressure for higher wages along with customers wanting a bargain you have to carefully plan your next move.

 

[NickGrogan]

Yes, I feel very lucky to have enjoyed a great rate for this long, we've been quoted 87p. In real terms we'll be going from £1000 per month to over £5600 per month at the rate quoted.

87p is very much on the high side, should be able to beat that.

Where are you based?

 

[HFE Signs]

87p is very much on the high side, should be able to beat that.

Where are you based?

DE13 9PD ?

 

[WaveJumper]

Something just came to mind, back in my days of commercial property management we use to have Power Factor Correction equipment installed (I'm by no means an electric expert) this in basic terms smoothed out the current into the building and also helped to reduce costs. Just might be worth a google an explore the possibilities

 

[HFE Signs]

Something just came to mind, back in my days of commercial property management we use to have Power Factor Correction equipment installed (I'm by no means an electric expert) this in basic terms smoothed out the current into the building and also helped to reduce costs. Just might be worth a google an explore the possibilities

My background is electrical engineering - power factor correction is used if you have a leading or lagging power factor, basically caused by heavy devices that are inductive such as transformers, motors or reactors. No loading will be pure unity power factor but generally speaking it’s close enough. It can be measured and corrected but then you have the problem of correction when certain equipment is off. Equipment manufacturers try to balance within the equipment these days so most loading will be pretty damn good

 

[Picture Bute]

The time of enjoying my 15.3p/kWh comes to an end in February

Has anyone managed to get a decent rate? And what is a decent rate now?

Thanks guys

I'm on a similar rate to you until September 2023 but a few neighbouring businesses have had to sign new contacts recently and high 70s and low 80s seems to be the norm. Now, I'm not a particularly power hungry business, but multiplying my electricity cost by about 6 will have me considering if it's all worth the aggro. I'm sure a few of the more power hungry around me, such as small takeaways etc will go to the wall as well.

 

[SillyBill]

Going from £4k to £20k per month from March next year. Hence I am pricing in a bloodbath for the UK economy next year as I expect a lot of businesses less capitalised will be shuttered the moment the first bill lands on the mat. Going to make Covid look like a tea party. I managed to get a 1 year fix so I am just looking at it as a year of austerity until hopefully it eases back a little (not expecting it to get anywhere near to where it has been though).

 

[BobzYourUncle]

Going from £4k to £20k per month from March next year. Hence I am pricing in a bloodbath for the UK economy next year as I expect a lot of businesses less capitalised will be shuttered the moment the first bill lands on the mat. Going to make Covid look like a tea party. I managed to get a 1 year fix so I am just looking at it as a year of austerity until hopefully it eases back a little (not expecting it to get anywhere near to where it has been though).

Have you factored in government support scheme?

 

[fantheflames]

Have you factored in government support scheme?

But will that be enough!?

 

[BobzYourUncle]

But will that be enough!?

I dont think it will be enough. But from examples put out there the Gov scheme looks like it would cut monthly bill by about 40% or so . That is for those who took out contracts after sept. I've not really heard of real life examples since this scheme put into force. But I suppose its better than no help. For us paying anything more than overall 50p kwh. Would be us going to the wall. I honestly dont know how others in my trade survive with contracts more than that Our margins are low. But unable to put prices up that high to cover cost.. I'm in the fast food trade. It's very turbulent currently to put it mildly and I don't think there will be many left if they coming off a fixed next year.. they will become unviable even if they are successful. Unless energy prices take a significant drop. Other sectors might fair better.

 

[NickGrogan]

DE13 9PD ?

Assuming about 100,000 units of usage, single rate, 03 meter - a decent level but not high.

1 year @ 60p per kWh
2 Year @ 57p per kWh
3 year @ 63p per kWh

All with standing charges

 

[SillyBill]

Have you factored in government support scheme?

As per my post, I am on a new tariff in March...the scheme ends in March next year. So the gov subsidise "some" of one months electricity and to hell with us after. Not that I want any support mind, I'm not a socialist and I don't generally want my own tax money given back to me less the service charge of it passing through Westminster along its way. I only want a competent government that doesn't tax me so much in the first place and can run a domestic energy policy properly and doesn't do things like announce how wonderful it is for us to be securing fracked gas from America while decimating our own coal, oil and gas with ludicrous taxes, blowing power stations up, or banning it outright...

So in summary, March I may get something like a £10k bill instead of a £20k bill. And in April back to £20k and the rest of the whole contract £20k per month.

 

[SillyBill]

Something just came to mind, back in my days of commercial property management we use to have Power Factor Correction equipment installed (I'm by no means an electric expert) this in basic terms smoothed out the current into the building and also helped to reduce costs. Just might be worth a google an explore the possibilities

We have one of those, for many years we didn't realise what that strange unit next to the main incoming switchboard was as we'd sort of forgotten about it. I've no idea if it saves us much but it costs us several hundred quid a year to service it post re-discovery. So I hope it saves us more than that!

 

[anonuk]

We are about to sign the lease on a new premises and honestly, the electricity quotes are eye watering.

Our current premises is 17p/KWh so we are having to factor in the second premises costing around 4x that.

 

[BobzYourUncle]

As per my post, I am on a new tariff in March...the scheme ends in March next year. So the gov subsidise "some" of one months electricity and to hell with us after. Not that I want any support mind, I'm not a socialist and I don't generally want my own tax money given back to me less the service charge of it passing through Westminster along its way. I only want a competent government that doesn't tax me so much in the first place and can run a domestic energy policy properly and doesn't do things like announce how wonderful it is for us to be securing fracked gas from America while decimating our own coal, oil and gas with ludicrous taxes, blowing power stations up, or banning it outright...

So in summary, March I may get something like a £10k bill instead of a £20k bill. And in April back to £20k and the rest of the whole contract £20k per month.

Totally agree with what you say. We have a useless inept government. Muddling their way through and now that shit is hitting the fan with strikes and social unrest. Because of the many years of no contingency/foward planning, wasting tax payer money on bad decisions useless projects/policies and blunders. I know pandemic and war isnt their fault but it now seems that it is easier to wash their hands blame all inadequacies that was brewing before covid and pandemic on that.
As a small business they stifle any growth ambition for us to want to go and scale up.. for me they do. Don't know about other small businesses. Because there really isn't the incentive to do so. Don't mind paying tax but it's way too high. VAT input and output, income tax, business rates etc ... We are successful and busy. But there is a wall there where you think okay I dont want to do much more otherwise thru tax and other cost. it's not worth the hassle and sleepless nights. You end up staying small. Maybe a saving grace for us at the moment as the people in my trade that have scaled up. Majority regret so, especially in this climate with the energy crisis.

 

[fantheflames]

Can someone please reverse the energy crisis please? Pretty please?

 

[HFE Signs]

Can someone please reverse the energy crisis please? Pretty please?

And preferably before I sign up to a new agreement

 

[alexcook]

Did you manage to get this sorted ? As the rates you are mentioning are far higher than what you should be paying?

 

[BubbaWY]

We have one of those, for many years we didn't realise what that strange unit next to the main incoming switchboard was as we'd sort of forgotten about it. I've no idea if it saves us much but it costs us several hundred quid a year to service it post re-discovery. So I hope it saves us more than that!

It all depends on what you have in your premises i.e. machines and motors are a big one. In fact, the only time I ever come across PFC is on large scale industrial type of projects. You may well be paying more (for the servicing) than you are saving by using the PFC.

 

[Ecommerce&MailOrderGuy]

Wow this thread provides interesting reading. Looking at those peak rates quoted (80p ish pKWh) now I'm hearing it's 28p or so? Massive fluctuations for what we took for granted was a benign utility cost.
I am fortunate in that we are in a 2 year fix to 2024.
I hope any of you businesses that got sold a long-term fixed contract at peak receive some kind of help.
It hasn't all been easy for us either though as we are an importer and the ocean freight cost went from approx £1500 to £19,000 per container. Had to find an extra £1m to cover cashflow. This cost has dropped back down to £1500 per 40HC in recent months (Shanghai-Felixstowe) but what a crazy ride the last few years have been.
I see UK reported company insolvency figures jumped 16% today - good luck everyone ?