Bulb business electricity rates and tariffs
Bulb offers one set electricity rate for every company, so you can rest assured you're on the best deal they have. What's more, you could save 10% on your business energy prices compared to the market average.
Business electricity prices tend to be cheaper than domestic rates (but you will pay more in VAT). Ofgem offers a handy guide on how to get the best prices for your business here.
Fixed-rate or fixed-term contracts are arrangements whereby your energy price is secured for a certain period of time.
What this means is that you don't need to worry if wholesale prices rise, as you'll continue to pay your provider the same amount per kWh for your electricity. Your energy bills could still vary, however, depending on how much energy you use each month.
Bulb only offers one tariff to customers, which is a variable plan, so you won't be able to get a fixed-rate contract if you choose Bulb as your provider.
However, they list their current prices per kWh on their website and guarantee that you'll get 30-days notice before any price changes. Nevertheless, if you really want a fixed-rate contract, you'll need to look elsewhere.
Bulb doesn't believe in fixed contracts, and for this reason, they only offer a variable tariff to businesses looking for an energy plan. Having a variable tariff means that your energy bills fluctuate based on the current wholesale price for energy.
Variable tariffs are also fully flexible, meaning that you can switch providers at any time, and won't have to pay any exit fees as you're not tied into a contract with your energy supplier. However, it can be harder to predict your monthly energy bill, as your price per kWh could fluctuate at any time.
Bulb advertise their current prices on their website, so you can roughly predict your monthly energy spend based on current meter readings.
What's more, they promise to give their customers 30 days notice of any price changes to their current electricity and gas rates, and you're able to switch providers at any time without exit fees.
Deemed or out of contract rates
With most business energy suppliers, if you forget to switch your plan at the end of a contract, or forget to renew onto a new tariff, you could incur deemed or out of contract rates. With Bulb, however, there are no end-dates, notice periods or renewals to negotiate: and they never charge an exit fee.
For this reason, you can rest assured that you'll never incur any of these fees if you choose Bulb as your energy supplier.