23 Aug
Why You Should Review Your Business Energy Supply Each Year
Posted on Aug 23, 2023
by developers
As a business owner, you have countless responsibilities and important tasks to prioritise. It’s little surprise that often, reviewing your company’s energy supply may be low on your to-do list. However, just like personal finances or taxes, reviewing your business energy supply each year is vital for your bottom line. Although you may not be looking to change energy suppliers, it is always worth taking a look at current rates and tariffs and identifying areas where you could be saving your business money. With this in mind, here’s why you should review your business energy supply each year.
Identify Cost Savings
Reviewing your business energy supply can help you identify where you are overspending and therefore provide opportunities for cost savings. For example, a business might notice that its heating or air conditioning usage spikes during certain times of the day. By analysing this information, business owners and managers can potentially adjust the company’s schedule to reduce energy usage during peak times, without sacrificing comfort or productivity. You may also notice that your current energy supplier is overcharging you, or there are better rates out there. Annual reviews of your energy usage and payments provides the perfect opportunity to consider changing suppliers.
Choosing the Right Plan
Businesses can find themselves stuck with the wrong energy plan or supplier if they never review their options. Energy plans and rates can frequently change over time with the addition of new products or if there are changes in company energy usage patterns. You may find that by shopping around, you can find a better plan or provider that saves you money and better suits your business needs. It is worth speaking with your energy supplier if you do notice any changes or better deals as they can often provide solutions to help mitigate any issues with your current energy tariff or deal. If you are a D-ENERGi business energy customer and would like to discuss your current tariff, contact our team here.
Environmental Benefits
Apart from savings for your business, reviewing your energy supply each year can also help you evaluate your carbon footprint and contribute to helping the environment. With sustainable energy sources becoming more accessible and popular, reviewing your options with an energy provider that focuses on renewable energy can be a smart decision for your company. You may also find it is the right time to make the switch to a smart business energy meter. Which will allow you greater opportunity to review your usage and spending in real time.
Making a Compelling Case for Change
Convincing management of the need for change regarding energy usage or provider can be difficult without clear evidence and data on the impact of any potential changes. Reviewing your energy supplies each year allows you to keep reports and comparative data, which can be used when you need to show relevant decision-makers what can be done to optimise efficiencies in your business. Having the data to back up your argument is the best way to win over your management team.
In conclusion, reviewing your energy supply each year is vital to ensuring your business is running efficiently and at a cost-effective rate. It can bring many benefits and potentially save your company money. Given the benefits and potential savings, reviewing your business energy supplies should not be neglected on your to-do list.
Switching your business energy supplier doesn’t have to be complicated but timing can make a big difference.
In this latest blog we will discuss when the best time to switch energy suppliers is and explain why some moments are better than others.
The best time to switch supplier
The ideal time to switch to a new energy supplier is when your current contract is coming to an end. This is the easiest time to switch as you are not locked into a contract with any supplier. Your current supplier should have contacted you to let you know that your current contract is coming to an end, requesting that you let them know your decision, either to stick or to switch. Switching to a new supplier is often recommended to ensure you continue to pay the best and cheapest prices for your business energy.
Choosing to remain with your current supplier by simply rolling over your contract may also mean that you are automatically placed onto a rollover contract with higher rates.
Whether you opt to stick or switch you should always discuss your options, guaranteeing you are getting the best price.
Is it possible to switch supplier mid-contract?
It is possible to end your contract early, however most energy providers will have an early exit fee. Your bill or online account will inform you of how much this exit fee will be. Typically you will only avoid paying an exit fee if your contract is set to end in less than 7 weeks. To determine whether this is truly a good idea, it is best to work out if you would still save money by switching even if you have to pay an exit fee and do your research into your new supplier before switching.
You should also make sure that your new supplier can provide you with the services you require. For example, you may currently have a business smart meter. If you want to continue using this you should check if the new supplier can offer the same.
Reasons to switch energy supplier
There are many reasons why you may wish to switch business energy suppliers. Some of the most obvious include wanting a better price or customer service. Or you may have simply come to the end of your fixed contract. However some businesses may be making the switch for more complex reasons.
For example, some businesses have decided to switch to renewable energy suppliers in a bid to cut their carbon footprint. As the mentality towards the environment and renewable energy shifts, it is expected that more and more businesses will follow suit in the next few years. Demanding that energy suppliers meet these new requirements of their customers.
Switching to D-ENERGi for business energy
If you are considering switching to a new business energy supplier, consider D-ENERGi as your first choice.
The team here is dedicated to supporting all our customers, old and new, in sourcing the very best business energy deals. Not only that but all electricity we supply is sourced from wind farms across the UK, making us a great choice for companies looking to enhance their approach to sustainability.
Switching business energy is easy, contact our energy experts to get a free quote or take a closer look at our products.
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If you are currently receiving business energy (gas or electricity) from an agreed business energy supplier, this blog is for you.
With the cost of living at such a high, and many businesses, particularly small and micro businesses navigating their way through increasing costs and expenses, as well as battling the change in consumer behaviour and spending as a result of the pandemic, saving money where you can is so important right now.
At D-ENERGi, we have spent time understanding just how difficult the last few years have been for our business energy customers and know how important it is for businesses to understand their outgoings and be sure they are paying for what they need and are not being overcharged. Which is why we have written this blog, to help businesses navigate the tricky world of energy costs.
Pay close attention to your energy bills
Firstly, you should be reading all your business energy bills and paying close attention to what they say. Although no one likes receiving a bill, it is an incredibly important part of ensuring you are not overpaying or paying for usage you do not require.
For example, you could be paying for an estimated amount of energy used if you fail to submit a meter reading and end up being overcharged. Alternatively, your supplier may have quoted you an incorrect price per kilowatt hour (kWh).
In addition to this, you should also be checking for any additional fees or charges that may not have been previously agreed which could add up to a considerable amount each month. The easiest way to check this is by comparing your bills from one month to the next and being sure that all figures line up with what has been agreed in your contract.
What to do if you think you are overpaying
The best thing you can do if you have spotted an overpayment or consecutive bills where you have been overcharged is to speak with your energy supplier directly. Get through to their customer service team and discuss your bills.
You should also make sure to take a look at your current energy contract and check all the terms and conditions. Your supplier may have added in additional fees or charges that you were not aware of, so it is worth double checking.
Finally, if after speaking with your supplier you still feel like you are overpaying, don’t be afraid to shop around and compare what similar energy suppliers are offering. Often, you can find a better deal that will save your business significant amounts of money each year.
At D-ENERGi we have become a trusted alternative to the big five energy suppliers in the UK for our business energy customers, and provide free quotes for any business looking to switch suppliers. Our friendly team will be happy to discuss the details of your business requirements and find you a solution to your problem. Afterall, it is better to spend some time getting the right business energy deal, than to be spending too much on your bills. Get in touch today for your free quote.
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