Finding the right business energy provider is important, as you want one that offers you the best possible deal. Here we'll look at what a good deal is and how to find it. We'll also cover some other things you should consider when choosing an energy supplier for your business.
Understand your business needs
Before you can choose the best energy provider, you need to know more about your business.
- What type of business do you run? If it's a manufacturing plant or warehouse that runs 24-7, you'll use more energy than someone who works in an office building.
- How many employees do you have? The more people working at the company, the higher your electricity bill will be.
- How much electricity does my business use per month? This is important because some providers offer fixed rates for businesses that use less than 5 kWhs per month but charge more as usage increases (and vice versa).
- What kind of gas and/or electricity does my business use? Some businesses only require gas, while others need both types of energy to operate properly. It's also important to know if there are any special circumstances involved with receiving either type of fuel, like having natural gas lines installed on-site or is required by law.
Find the right contract length for your business
When you're choosing your business energy provider, there is one thing to consider that isn't often brought up: contract length. This can have a huge impact on the size of your monthly payments and annual costs.
The more expensive providers will offer longer-term contracts over 3 years in length (or even longer). This means that your business energy bill will be lower each month and, ultimately, each year than it would be if you had chosen a shorter-term contract with a cheaper provider. However, these longer-term deals also mean that you'll pay more overall for this service as they spread their costs across all customers rather than having to absorb them all at once during start-up times - something which affects how attractive these contracts may seem at first glance!
On the other hand, if you're just starting out as a new company, then perhaps going for a short-term contract with another supplier might be better. These usually only last for around 1 year, but you can save money immediately by taking advantage of introductory offers. This can help keep monthly payments down whilst still offering protection against future price hikes.
Understand the different business energy tariffs available to you
There are a number of options when it comes to choosing your business energy tariff. You may want to consider standard tariffs, which are the most common type and offer you consistent prices throughout the year. Another option is an off-peak tariff, which allows you to benefit from cheaper electricity at certain times of the day. Green tariffs are also available and help meet environmental targets by rewarding businesses that use renewable sources of energy.
Variable tariffs let you pay for only as much power as you use; this can be beneficial if your business uses high levels of power during certain periods but low levels at other times – but bear in mind that these rates vary dramatically depending on your usage patterns! Fixed tariffs mean that there's no fluctuation over time, so they're ideal if you have regular monthly bills or need predictability when planning budgets for future years.
Get a better deal on your energy bills with renewable energy
If you're looking for a way to reduce your energy bills, you might consider renewable energy. This is a great option because it can help you do all of the following:
- Reduce your energy bills
- Reduce carbon emissions
- Help protect the environment and wildlife around us
- Support local communities
Choose a payment method that suits you and your budget
The best way to pay for your business energy is up to you. If you choose to pay monthly, your business energy provider will bill your account on a monthly basis, and you'll be charged accordingly. If you prefer quarterly or annual payments, they'll send an invoice each quarter or year that shows how much has been spent in that period. Direct debit is another popular option—it allows businesses to spread the cost of their business energy bills over several months or years without worrying about missing any regular payments during busy periods.
Finally, some businesses prefer paying by credit card because they like tracking their purchases more easily than if they were using other payment methods (or perhaps because they don't want anyone else to see how much money goes towards paying for electricity).
Make sure you know where the contract stands if you move premises
Make sure you know what happens if the business changes hands
Businesses change hands all the time, and it's important to make sure that the contract is transferred to them. If you buy or sell a business, whoever takes on the contract must make sure that it's transferred over to them.
If your business does change hands and isn't transferred along with it, it could cost you thousands of pounds in penalties. Make sure that whoever takes over understands how important this is.
Think about customer service and support as an important factor when switching energy provider
Customer service can be a key factor when choosing an energy provider. How responsive and helpful are they? Do they answer the phone quickly and offer knowledgeable advice? Or do you need to contact multiple people before getting an answer?
The fact is, good customer service should be at the top of your list when deciding on your next energy provider. A reliable company with great customer support means that it’s there for you if anything goes wrong, whether it's the infamous boiler breakdown or just a simple query about how much your bill will be.
Check whether the business energy provider offers an online account management tool
If you want to manage your account online, check whether the business energy provider offers an online account management tool. This will let you access your account 24/7, meaning that there's no need to wait until office hours to speak with anyone if something goes wrong. The tool should allow you to:
- Manage your usage and bills
- View business energy comparison data, check costs and payment history
- Order new meters or change meter readings
The best business energy provider is the one that meets your needs and supports the growth of your business. The electricity market has changed a lot in recent years, which means it’s now easier than ever to find what you need at a competitive price.
The most important thing is to choose wisely so you don’t get stuck with an expensive deal or miss out on valuable perks that could save you money over time. As always, it’s worth researching before making big decisions.