ScottishPower has launched a new business tariff aimed at helping small and medium-sized enterprises manage energy costs more effectively amid volatile market conditions.

The product, called Advantage for Business, is designed to let customers take advantage if prices fall during the last 12 months of their existing deal.

Under the offering, once a company enters the final year of its contract, ScottishPower will issue price alerts when rates decline. Customers can then choose to move to the lower price straight away or lock in reduced rates for their next term, removing the need to keep constant watch on the market.

The move builds on ScottishPower's commitment to supply 100% renewable electricity as standard across all SME electricity products, supporting firms that want their energy use to align with sustainability goals.

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YouGov research commissioned by ScottishPower indicates many SMEs want to make better-informed decisions about energy but lack the time or certainty to do so. The new tariff aims to address that by providing clearer visibility of market movements and a mechanism to act quickly when more competitive deals appear.

Andrew Ward, Chief Executive of ScottishPower's Customer Business, said: "We're really excited about introducing Advantage for Business because it tackles a real frustration for business customers. Currently many businesses feel “locked in” once in contract, meaning that if wholesale prices fall they can’t benefit or if prices are rising they cannot act early to secure their next contract.

"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."

ScottishPower's research also found that nearly a third (32%) of SMEs are unsure how renewable their current tariff is, despite many expressing a desire to make greener choices. To provide additional support, the company has introduced the Knowledge Hub, a digital portal featuring practical guides and customer stories to help businesses navigate energy decisions.

Advantage for Business is the latest step in ScottishPower’s programme of practical support for smaller firms, combining proactive price-drop alerts with flexible options and tailored pricing so customers can make informed choices without monitoring the market continuously.