Finding the right business electricity plan is an important part of running a successful company, especially in Connecticut. Depending on the industry, winter heating electric bills for businesses can double (or more!), so shopping for a competitive rate is important. But who has the time to contact electricity companies and compare different contracts? Many small and medium businesses are shopping for themselves and saving both time and energy costs.
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Shop for Your Commercial Rate
As a business owner, you shop around for the best deal from your suppliers. Any savings you get goes straight to the bottom line. You can also shop around and choose the best electricity plan for your business. When you go with the utility’s standard default service rate, your rate will change multiple times during the year.
When you select an electricity supplier, you can lock in a fixed rate plan and protect against volatility. Plans range from 6 to 36 months in duration.
Learn more about how to shop for your business electricity.
Compare Small and Medium Business Electricity Rates
As a rule of thumb, if your business has less than 5 utility meters or if your average electric bill is less than $5,000 per month, you can easily shop electricity yourself and start saving quickly. Typically no deposits are required if your business has a good credit history. Service can begin within one to two billing cycles of signing a contract with a provider.
Moving to a new location or setting up a new business? Before you can switch to a competitive supplier, you will need to establish service with the local utility company. That’s because you’ll need your account number to switch your service.
Shop Business Electricity Rates & Plans in Connecticut
Shop Large Commercial Electric Rates
For large businesses generally with monthly utility bills of more than $5,000, let ElectricityPlans do all of the legwork to get custom quotes from over 20 reputable electric companies.
Many energy providers offer exclusive rates that cannot be found online. We have access to business electricity rates from many Connecticut electricity providers and can walk you through the process of choosing the best electricity plan for your business.
How Usage Impacts Your Business Electricity Bill
Knowing how much power you use, and when you use it, can help you shop. You can usually download your full usage history from your utility company’s online portal. That way you will understand your usage before you shop.
If you are an existing business, your new provider will pull your usage history before you sign any contracts and help you choose the right plan.
In addition to the price per kWh, if you have a demand meter, you may also have a demand charge. This demand charge is in addition to a price per kilowatt hour. Demand is a measure of how much electrical capacity you need at any point in time (kilowatt or KW/kVA).
Electricity demand and usage levels vary widely by type of business – for example, a manufacturing facility uses power differently than an office building or a church. Knowing your usage patterns and learning about how your demand is calculated can help you lower your demand charges.
Are you expanding your business? Adding more equipment? If this applies to you, talk to one of our business specialists. Planning for changes can help you select the right contract length, manage your demand charge and avoid costly fees..
Average Business Electricity Rate in Connecticut
According to the EIA, the overall average price of electricity for commercial customers in the US is 10.48 cents, while Connecticut business customers pay on average 16.38 cents per kWh (as of December 2020) for electricity. Electricity can be a big expense to your business. You owe it to your bottom line to shop for an electricity supplier.
Enter your zip code to shop for cheap CT business electric rates in your area.
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