By Jason Patel
SK Energy
THE energy costs your business is responsible for are dependent on various factors, such as; how energy efficient your building is, your business location, the time of year, your usage and the different regulations your supplier may impose.
Many of these factors are out of your control, however, one factor which isn’t is the energy tariff and supplier you choose for your business. Just like phone plans, some energy providers are more reliable than others, some have better deals than others, some offer different contract lengths, and some are better suited to your company’s specific needs. The energy market is competitive, suppliers’ rates may fluctuate from year to year. Therefore, it may be beneficial to compare each supplier’s rates before you renew your energy contract, this will help you to save on your utility bill without having to install any new systems, windows, or temperature gauges. Switching energy supplier is a relatively easy process and can save your company money. The process is outlined below.
Research all viable options
Some energy companies will not be compatible for your area or industry and some may not be suitable for the type of business you have. Create a list of what you’re looking for and only compare rates from the suppliers that fit your requirements. You may want to consider their different policies or if their rates are fixed or flexible.
Know your current plan
How will you know if you’re getting a better deal if you don’t know what your current plan entails? Knowing how much you are paying per kilowatt hour, when your contract is up for renewal, and whether your rate is fixed or flexible, will help you choose the best contract for your business’s needs. Remember, even a small difference in the kWh unit rate can translate into hundreds, or even thousands, yearly. If you are planning on switching, it is advisable to set up the new plan between 180 and 60 days before your current contract ends so you don’t run the risk of paying out-of-contract rates – which are considerably more expensive – or missing your current supplier’s termination window. Do not wait until you receive a renewal letter from your current supplier.
Check for hidden fees and charges
You don’t want to sign up for a new plan only to find out that it will actually cost you more with hidden fees and extra charges. Thoroughly read the terms and conditions page to know what you’re getting yourself into.
Check reviews
There’s bound to be a few upset customers with regards to any business, but dozens can be a red flag. Don’t sign up for a contract that you aren’t fully comfortable with or pressured too over the phone.
Draft in some expert help
We know running a business is extremely time-consuming, and as a result you may not have the time to research energy rates yourself. This is where seeking the help of an accredited and reputable energy broker can be beneficial. At SK Energy we have an award winning team of specialists who can handle the entire process for you, we are experts in the field and know where to look to find the most current tariffs, at the best rates, which are perfectly suited to your business’s needs including offers that you will not find anywhere else.
If you are interested in switching or renewing your business energy contracts or just looking for some advice call us on 01933 448622 for a free business energy and water healthcheck or email