You might not realise it, but as a business energy customer, you're in demand. Although you need gas and/or electricity from a supplier, the fact you can easily switch to a competitor puts the power in your hands. So don't lie down and accept your bills – follow our top ten tips to shop around and find the best deal for you.
Know your contract dates
Make a note of when your contract runs out – some suppliers have a bad habit of rolling you over into another contract without giving you a chance to switch, or only letting you switch during a very limited timeframe. Make sure you know exactly when you can switch without paying exit fees. When it comes to choosing a new contract, always check the renewal and exit T&Cs to avoid a nasty surprise later.
Understand your tariff
Do you know what tariff you're currently on? When you're shopping around for a better deal, it's really important to understand exactly what you're currently paying and why – that's the only way to get a true comparison, as two different tariffs could look quite different on paper. This information should be on your bill.
The energy market is constantly changing, with providers competing to offer the best business electricity rates. You won't know what's out there unless you look. According to Which? two thirds of consumers have never switched, while the average annual saving for those that did was £204 – are you stuck in a rut too?
Capitalise on novelty value
Some providers offer extra benefits, incentives and discounts for new customers. Don't be swayed by a gimmick though – do the maths and make sure you're getting a long term financial gain. If you switch every year, you could be reaping these benefits all the time.
Ask for more
There is no harm in asking your current supplier if they can do you a better deal, especially if you're happy with the customer service. According to Ofgem, if you're on a default tariff your supplier is obliged to tell you about other available contracts that might be better value.
Most energy companies offer a 'green tariff' – some use renewable fuel sources, others contribute to environmental projects, but either way you're reducing your impact. Going green has other benefits too – see if you're eligible for any of the government's green tax relief schemes for businesses.
Shop around outside the Big 6
Did you know just six companies supply over 90% of homes? Don't let your business fall into the same trap, as there are dozens of providers out there to choose from. And as you might expect, some of them claim to offer better energy rates and better customer service than the Big 6.
Think dual fuel
If your business uses both gas and electricity, it is often cheaper to package them together with one supplier. It will also most likely be more convenient, with fewer providers to deal with and just one direct debit leaving your account.
Some providers offer further discounts for businesses that pay by direct debit, or who opt to manage their account online. Then of course there are those futuristic smart meters and other tools to reduce business energy consumption.
Read the reviews
If you're considering signing up with a supplier, even if you think you've found a great deal, read some reviews. You really can't put a price on good customer service.
Ready to switch?
Our team can do the shopping around and switching for you, for hassle free savings on your business electricity. Give us a call for an initial idea of what kind of deal you could get.