Finding a genuinely competitive business energy deal isn’t complicated in principle. The difficulty is that the market isn’t built to make comparison easy. Here’s a practical approach for SME owners who want to be sure they’re not overpaying.
1. Know your renewal date, and act early
Most SMEs end up on a supplier’s expensive “out-of-contract” or “deemed” rate simply because the renewal window closed before anyone engaged with it. Suppliers have to notify you ahead of renewal, but that notice is easy to miss in a busy inbox.
Mark the date. Start comparing quotes three to six months in advance, not the week your contract lapses.
2. Get more than one quote, and make sure they’re competing
A single quote, even from a broker you trust, tells you nothing about whether it’s the best price available. The only way to know is to have multiple suppliers pricing your contract at the same time, so each one is bidding against real alternatives rather than against your lack of comparison.
3. Ask how your broker gets paid
This is the single most useful question an SME can ask, and the one least often asked.
If a broker is paid commission by the supplier and it’s built into your unit rate, ask for the amount in pounds and pence. Not a percentage. Not a vague description. Under Ofgem’s rules for Third Party Intermediaries, you’re entitled to know how any intermediary earns from your contract. If you can’t get a straight answer, that’s useful information in itself.
4. Understand what you’re actually comparing
A lower headline unit rate isn’t always the better deal once standing charges, contract length and exit terms are factored in. Ask for a like-for-like annual cost comparison across every quote, not just the rate per kWh.
5. Look at how the fee is structured, not just its size
Two commissions can look similar and behave very differently.
A commission tied to your ongoing consumption keeps costing you for the length of the contract, invisibly, whether or not the original deal was competitive. A flat, disclosed fee that’s only payable if you actually accept an offer lines up the intermediary’s incentive with yours. They get paid for finding you a deal you’ll take, not for volume.
6. Don’t assume loyalty gets rewarded
Staying with the same supplier or broker year after year rarely earns you better pricing in this market. If anything, it often means fewer people are checking whether your rate still reflects real competition.
Reviewing your contract at every renewal, even when you end up staying put, is the only way to know you’re not drifting onto an uncompetitive rate.
The bottom line
The best business energy price comes from two things: real competition, and full visibility of what everyone involved is being paid. Building both into how you buy energy is the difference between a good deal and one that just looks like one.
That’s the whole idea behind energybid. Suppliers bid against each other for your contract, live and in the open, and the only fee is a flat one you agree upfront and pay only if you accept. We launch in Q4 2026.
Register your interest now and your business will be ready to run its next contract as an auction, not a guess.
