Unravelling the “Big 6” energy suppliers’ variable and deemed rates – January 2018

  • Big 6 energy suppliers B2B variable deemed rates

Unravelling the “Big 6” energy suppliers’ variable and deemed rates – January 2018

By | 2018-05-15T14:04:45+00:00 January 23rd, 2018|Energy, Tips & Guides|

In 2017, the CMA proposed to make it mandatory for UK Energy suppliers to publish their variable and deemed B2B tariffs. This is supposed to make it easier for business to compare the market and hence make the UK energy market more competitive.

We found that not all of the Big 6 energy suppliers make it exactly easy for external parties to dig out their latest variable and deemed electricity and gas rates on their websites. We have therefore compiled an overview for you that reflects the latest rates published by the UK’s biggest energy suppliers.

Variable Rates

Also labelled Out of Contract Rates, or Default Rates, this is the rate that suppliers will place you on for 30 Days after the expiry of a contract, that is, if you don’t renew or enter a new contract.

Variable rates can be significantly higher than rates you would pay on a fixed term contract, up to seven times higher for gas standing charges, and two times for electricity unit rates for example.

Electricity

Big 6 Average

Electricity Big 6 Average Rates

Example: A small London-based business (35 employees) with an electricity consumption of 25,000 kWh per year would spend on average around 40% more on variable rates than on a competitive fixed term contract.

British Gas

Electricity British Gas Rates

EDF

EDF Electricity Price Average

e.on

e.on Average Electicity Price

Npower

Npower Electricity Price

Scottish Power

Scottish Power Electicity Price

SSE

SSE Electricity Price

Gas

Big 6 Average

Gas Big 6 Average Rates

Example: A medium-sized business in Derbyshire (115 employees) with a gas consumption of 45,000 kWh per year would spend on average around 44% more on variable rates than on a competitive fixed term contract.

British Gas

British Gas Average Gas Rates

EDF

EDF Average Gas Rates

e.on

e.on Average Gas Rates

Npower

Npower Average Gas Prices

Scottish Power

Scottish Power Gas Prices

SSE

SSE Gas Prices

 

Deemed Rates

Deemed rates are the rates a supplier places you on to when there is no contract in place. This would be used after a change of ownership or after a period of variable rates has expired. Deemed rates are usually even slightly higher than variable rates.

Electricity

Big 6 Average

Deemed Rates Average Big 6 Electricity

Example: A medium-sized business in Hertfordshire (90 employees) with an electricity consumption of 40,000 kWh per year would pay on average around 78% more on deemed rates than on a competitive fixed term contract.

British Gas

British Gas Deemed Electricity Rates

EDF

EDF Deemed Electricity Rates

e.on

E.ON Deemed Electricity Rates

Npower

Npower Deemed Electricity Rates

Scottish Power

Scottish Power Deemed Electricity Rates

SSE

SSE Deemed Electricity Rates

 

Gas

Big 6 Average

Big 6 Average Deemed Gas Rates

Example: A micro business in Kent (9 employees) with a gas consumption of 12,000 kWh per year would spend on average around 93% more (almost twice as much!) on deemed rates than on a competitive fixed term contract.

British Gas

British Gas Deemed Gas Rates

EDF

EDF Deemed Gas Rates

e.on

E.on Deemed Gas Rates

Npower

Npower  Deemed Gas Rates

Scottish Power

Scottish Power Deemed Gas Rates

SSE

SSE Deemed Gas Rates

If you are currently on variable or deemed rates, please get in touch to arrange a fixed contract and save money.

 

Disclaimer: All prices refer to Non-half hourly/Non-maximum demand meters (profile class 03) and are without VAT and Climate Change Levy, and reflect rates published by suppliers as of 21 January 2018.

About the Author:

Jonathan Reeves