ScottishPower has unveiled a new energy tariff called Advantage for Business, specifically designed to assist small and medium-sized enterprises (SMEs) in navigating the complexities of energy pricing. This initiative aims to empower businesses to take control of their energy costs, particularly in a fluctuating market.

Features of the Advantage for Business Tariff

The Advantage for Business tariff introduces a unique feature that alerts customers when energy prices drop during the final year of their contract. This allows businesses to either switch to a lower rate immediately or secure a more favourable price for their next contract. This proactive approach alleviates the need for SMEs to constantly monitor market trends, providing them with greater flexibility and peace of mind.

Commitment to Renewable Energy

In line with ScottishPower’s commitment to sustainability, the Advantage for Business tariff includes 100% renewable electricity as standard across all SME products. This move supports the growing demand among businesses for greener energy options, allowing them to align their energy consumption with their sustainability goals.

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Understanding SME Energy Needs

Research conducted by YouGov on behalf of ScottishPower indicates that many SMEs are eager to make informed decisions regarding their energy usage but often lack the time or resources to do so effectively. The Advantage for Business tariff is designed to address this gap by providing customers with enhanced visibility of market price movements and the ability to act swiftly when better deals become available.

Insights from ScottishPower Leadership

Andrew Ward, Chief Executive of ScottishPower’s Customer Business, expressed enthusiasm about the launch of the Advantage for Business tariff. He noted that many businesses feel constrained by their current contracts, particularly when wholesale prices fluctuate. “Advantage for Business is designed to make that easier. Energy can be a significant cost to businesses, so it’s understandable that SME owners want to feel confident they’re on the best contract when prices change,” he stated.

Knowledge Hub for SMEs

In conjunction with the new tariff, ScottishPower has also launched the Knowledge Hub, a digital platform that offers practical guides and customer stories tailored for business energy customers. This resource aims to provide SMEs with expert advice and insights, further enhancing their ability to make informed energy decisions.

Key Features of Advantage for Business

The Advantage for Business tariff includes several key features designed to support SMEs:

• Price drop alerts during the final 12 months of the contract, allowing customers to act when prices fall.
• The option to switch to cheaper prices immediately or lock in lower prices for the next contract.
• Personalised quotes available at any time.
• Tailored pricing options.
• Contract durations of 12, 24, or 36 months.
• 100% renewable electricity sourced from ScottishPower’s renewable energy facilities in the UK.

ScottishPower’s Broader Commitment to Sustainability

ScottishPower is part of the Iberdrola Group, a leading global utility company that has invested significantly in the UK energy sector. Over the past 15 years, ScottishPower has invested £30 billion in the UK and plans to invest an additional £24 billion between 2024 and 2028. This investment underscores the company’s commitment to renewable energy and sustainability.

ScottishPower operates a diverse portfolio, including over 40 operational offshore and onshore wind farms and solar sites, which generate enough green electricity to power approximately two million homes. Additionally, its network business, SP Energy Networks, ensures reliable electricity supply to around 12 million people across a vast network.

Conclusion

The launch of the Advantage for Business tariff represents a significant step forward in supporting SMEs in managing their energy costs effectively. By providing price alerts and a commitment to renewable energy, ScottishPower is not only addressing the immediate needs of businesses but also contributing to a more sustainable energy future. The accompanying Knowledge Hub further enhances this initiative by equipping SMEs with the necessary tools and information to make informed energy choices.