Unlike home power, commercial power rates are tailor-made and can vary widely. This means that it is very important to carry out a thorough comparison of the various providers on the market. The result of this process is a profitable contract aligned with your energy strategy.
Here’s a list of enterprise energy do’s and don’ts as you face the daily challenge of implementing an effective energy policy:
power comparison
— Compare prices: An increasing number of energy providers means more competition in the marketplace and more opportunities for far-reaching business energy comparison.
—Get a breakdown of unit rates for gas and electricity, as well as ongoing charges (the fixed cost of having an energy supply). Remember that lower unit costs may be offset by a higher ongoing charge, and vice versa.
—Make sure that if you get a fixed-term contract, this agreement refers to the amount of time an agreement is fixed, rather than referring to the fixed cost of the energy fee.
—Check if your business qualifies for the Climate Change Tax (CCL) exemption.
—Remember that your company’s energy needs are unique—no two companies are the same, which means you need to compare company energy on a case-by-case basis.
Energy Comparison Don’t
—Don’t wait too long before searching the market for a new commercial energy provider. You can be placed on a new contract 120 days before the end of your current contract, but it can take up to 28 days to process the change, so don’t leave it until the last minute.
—Don’t be afraid to negotiate, as energy rates for businesses are customized, this gives you the opportunity to negotiate lower energy prices.
—Don’t fall into the trap of automatically renewing your existing contract, as this prevents you from switching and saving when your contract expires.
—Don’t worry about downtime—there should be no interruptions to your gas and electricity when you switch providers.
—Don’t rush the process: Once you’ve signed a contract, you usually don’t have a ‘window period’ to cancel the contract. You are usually locked in for the entire contract period once you’ve signed.
Leave it in the hands of the experts
The process of seeking commercial energy quotes can be difficult and time consuming for already overstretched SMB teams. A quick call with a knowledgeable energy broker can not only speed up the business energy comparison process, but also help you save on your monthly utility bills.
