Knowledge is Power in the Quest for the Best Business Energy Deal

As a business owner, one of the most important decisions you will have to make is how to power your company. Whether you have over two hundred employees or a team of just five, you still need to keep the lights on, the computers running and your staff warm and cosy in the office come winter. Choosing your energy supplier can be one of the most fundamental choices you will make for your company and have one of the biggest impacts on your business as a whole. Get it wrong and you could be in a lot of hot water (or not if you can’t afford the energy bills) but get it right and it could be one of the most infrequent decisions you have to make. So, no pressure then. 

Whilst switching your energy supplier is simple enough, choosing the right supplier for your business is another matter entirely. To begin with, business energy prices are subject to greater fluctuations than domestic energy. This means that any dip in prices probably won’t last long, so you need to act fast once you’ve decided to change your supplier.  

But…how do you know which is the best supplier and best contract for you? To answer that question, you’ll need to do some research in order to understand what your business really needs. Now don’t panic, we’re not talking serious in-depth, ‘writing a dissertation’ kind of research here, but just knowing a little about your company’s energy habits and consumption means that you will be better informed when looking for that perfect contract. 

With that in mind we’ve put together a few suggestions on how to arm yourself with the knowledge you need in order to negotiate the best deal for you. 

‘Ts&Cs Apply’… 

Yes, that teeny, tiny writing at the bottom of the page that everyone should read but if we’re being totally honest here, very few of us actually do. It’s important though that you know what the terms and conditions of your current contract are. In most cases there will be a clause that states you will incur a fine if you switch supplier before a certain date, usually restricting you to just a month or two before the end of the contract. Make sure you know what these restrictions are because let’s face it, nobody wants to be landed with a hefty fine, do they? 

‘Don’t get fooled again’… 

Whilst we’re on the subject of contracts, make sure you know what your renewal date is. If you forget to actively renew your contract, then it’s highly likely that your supplier will automatically put you on what is known as a ‘deemed rate’ – and that’s really not a good thing. In some case, you could end up paying 80% more than your original contract price simply because you forgot to pick up the phone. It’s worth setting yourself reminders on your phone, your calendar, sticking post it notes all around your office and home, even on the dog! Basically, anything that will help to remind you that you need to look into your energy contract and either renew or switch. 

‘Watch your Meters’… 

It may be the title of a 1940s public information film, but it’s still sound advice today. Even if you have a smart or half-hourly meter, it’s still a good idea to take regular readings for yourself so you know what your energy consumption is and whether there are any times during the day, or night, when that consumption rate may spike. Armed with this knowledge, you will be able to choose the right tariff for your business and put yourself in a stronger negotiating position to get the best deal for you. 

‘Whatever you want’… 

Okay, maybe not literally ‘whatever you want’ but it’s a good idea to know exactly what your expectations are from a new supplier. Obviously, saving money is a top priority for anyone, but there is more to think about. Do you want a longer contract that protects you from price increases over a specified length of time? A flexible contract allowing for any growth or downsizing of your business? Maybe you want top-notch customer service, or if you’re concerned about climate change then you might prefer a supplier who uses renewable sources such as wind or solar power. All these factors can come into play when deciding who supplies your energy. 

Now, let’s assume that you’ve done your homework. You know what your average energy consumption is, you know what you’re looking for from your supplier, you’ve scrutinised the small print (with the help of a microscope) and the dog has reminded you that your renewal date is fast approaching. You’re good to go! Just a minute though, let’s not be too hasty. There are still a few things you might want to consider. 

‘Don’t always believe what you hear’… 

Cold-callers, don’t you just love ‘em? Okay, let’s be fair here, most of them are lovely people and are well aware of how annoying we all find them, but everybody has a job to do. However, don’t always just accept what you’re being told. Indeed, they may be telling the truth about their all-singing, all-dancing, sparkly deals but there’s nothing wrong with parking that offer whilst you take some time to compare all the deals available out there…which leads us nicely to the next important thing to remember. 

‘Compare, Compare, Compare’… 

You probably do it for your home energy, don’t you? Spend a fun-filled evening browsing through comparison websites, looking for the best deal available so you can save the most money. So, why aren’t you doing it for your business as well? We know it’s not the most thrilling way to spend your time, which is why we’d like to help. Yes, this is the part where we stop talking about you and talk about ourselves for a minute, only a minute though, you are the reason we’re here after all.  

With over ten years of experience in the market, Energy Angels can offer you a completely impartial comparison service. Simply tell us what you’re looking for and we’ll do all the work…and we mean all the work as well. You can get back to running your business, safe in the knowledge that your switch will go smoothly, you’ve got the best deal available that suits your requirements and you’re saving money. Sounds pretty enticing, right? So why not give us a call on 01902 585 500  to see how we can help…then you can take the post-it note off the dog when you get home. 

 

 

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