Finding the Right Electricity Suppliers for Your Business
It is highly recommended that you shop around for the best price on your electricity, but even after you have made your decision, there are situations where you may need to switch back. The best way to make sure you don’t end up paying more than you should for your next bill is to secure your documents beforehand. When you switch electricity suppliers, there is a change order which takes place in your billing cycle. With this in place, you will know when you need to change suppliers again and will have enough time to find a better price from the new supplier and avoid any nasty surprises.
If you move to a new energy supplier
with which you do not already have a contract, check if they have an energy pricing program for green products. You can also check if the price of your natural gas or propane is likely to increase from the date you sign up. If you plan to shift supplier before your current contract ends, check if the price they quote you now is for a switching period and how many months that will last. If it appears too expensive to you, wait until your contract is finished so that there are no more fluctuations in energy pricing from the start.
Some suppliers may also increase
their prices during times of high customer usage. For example, if you use your equipment a lot, your costs will be higher than they would be if you used your equipment infrequently. It is important to note that this does not mean that your equipment is useless and should be thrown away; rather, it means that the supplier will want to recover their overheads. If you know your usage patterns well, you can request an estimated future usage price (with data relating to both efficiency and environmental factors), which you can then compare with your existing tariff.
Ask your supplier about the details of any guarantees
or warranties that they provide. In most cases, this will be in the form of reduced bills for the first few years of your contract. However, there is always the chance that the supplier’s claims cannot be substantiated. On the other hand, if you find that the company has been in business for more than thirty years and has a good safety record, you are probably safe in handing over your money to them.
Once you have narrowed down the supplier options
to a handful of potentials, you should sit down with a chart that provides you with an overview of your electricity needs and corresponding prices. Look out for pricing plans that will work best for your business, as well as those that will help you save the most money. There is no point in choosing a supplier that may turn out to be expensive later on. Find out what types of features you can expect to benefit from, as well as those that are redundant and only useful for your company.
You should also be aware that there are different types of tariffs
that your business electricity suppliers can offer you. The two most common types are ‘bundet’ and ‘Contracts for Difference’ (CFC) tariffs. A ‘bundet’ is a more affordable option than a CFC deal and it allows you to make considerable savings on your bills. Look for a supplier who can offer you both types, or at least a combination of both. You should also make sure that you choose suppliers that have years of experience in the field, as well as those that are registered with the UK Energy Performance Agency and British Gas.