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19 Jul

Business Electricity Advice: 5 things your business is doing wrong

by Sarah Wilkinson
 

There are many things left in the dark with business energy, here we will give you some pointers with some free business electricity advice. Things that you should know but have never quite been told by your supplier. You shouldn’t feel left in the dark when it involves something as important as your money. We have put together some facts that are handy for you to know to assure yourself just where your money could be going.

Business Energy Advice

Loyalty doesn’t pay the bills – make sure you shop around.

Being a loyal customer doesn’t entirely mean you will get the cheapest rates. In fact, usually it’s the opposite. When it comes to energy, loyalty never pays.

If you have been with the same supplier for more than 2 years, you will more than likely be on their standard deal – this isn’t always the cheapest.

According to GoCompare.com, switching suppliers could save you up to £291 per annum.

The standard deal you are probably on will enable your supplier to increase prices in areas like your kWh and standing charge.

Not all suppliers are the same, newer and independent suppliers are more likely to be more flexible and appreciate your custom. For example ourselves here at D-ENERGi will always look to price match any electricity price you get if you are our customer or if you just shopping around. Enabling our existing customers and prospective customers to always feel valued.

Deemed contracts

A deemed contract is in place when anyone moves their business premises and begins consuming gas, electricity or both – with no agreement in contract with a supplier.

If a contract is ended by either the supplier or customer but the supplier continues to supply the customer a deemed contract is usually present if:

  • The original contract does not obviously state the outcome after termination
  • The existing customer continues to use gas, electricity or both at the premises

10% of micro businesses are on deemed contracts for their energy, prices in deemed contracts are usually more than a substantial 80% more than rates at a negotiated price.

Make sure you know exactly when and where your charges are coming from, it is easy to be misled into paying more than you should be.

Do you run a care home or are you a charity?

Care homes, charities and other establishments using less than 33 kWh of energy per day are entitled to 5% VAT in comparison to the standard 20% VAT. When signing a contract with The Big Six – this usually isn’t outlined. Therefore meaning you could be being charged 20% VAT instead of 5%.

An unusual service which we offer at D-ENERGi is your VAT rebait which we take into our hands from start to finish. Customers in the past have received as much as £15, 000 with their rebait. This process usually takes around 3-4 weeks but is most definitely worth it.

Like-for-like tariffs

If you have been shopping around for cheaper electricity rates then you must ensure you compare ‘like-for-like’ tariffs. Suppliers can throw in hidden charges which you are unaware of. This has happened in many cases when it is just as easy to avoid.

A hidden charge is something we call a FiT charge, when you have been quoted for your business electricity, it is a point to ensure the FiT charge is included in your quote. On average, it has been estimated that a hidden charge can add an extra 2-3% onto your electricity bill.

Understanding the benefits of half hourly meters

P272 is a new regulation decided by Ofgem, having a half hourly meter will become mandatory in 2017. Until then, you could be saving a vast amount of money just by installing a half hourly meter.

With a HH meter, you will be charged every half an hour which essentially should secure you cheaper rates. The process of installing HH meters can be tedious but your energy supplier will help you through step by step. If your profile class is 05, 06, 07 or 08 then you will automatically be changed to a HH by 1st April 2017 however, you can switch and save before this! Visit our page dedicated solely to P272 and read our infographic which will fill you with all knowledge you need to know. You can visit our page here.