How to Change Business Energy Suppliers
Posted on Feb 27, 2017
All businesses should be regularly checking how they can reduce their overheads and boost profitability and one of the best ways is to change their business energy suppliers.
Indeed, the industry watchdog Ofgem has been increasingly encouraging firms to switch suppliers to help lower their energy bills and increase competition in the industry.
There are a variety of ways that businesses can find a new cheaper energy supply and this article will go into detail about how to do that and what questions businesses should be asking.
However, before doing so it’s also possible to contact a specialist firm which understands the business energy supply market and will be able to find the lowest and best deals available which change on a daily basis.
This could mean speaking with the experts at D-Energi and asking them to undertake a search of the potential energy solutions available and they can also look after the switchover process too.
Looking for cheaper business electricity suppliers
For those businesses who are looking for cheaper energy suppliers, including business electricity suppliers may be prompted to do so after receiving a particularly high energy bill.
The first step is to check when a contract is due for renewal with a supplier and if the business has not switched supplier they may be on a rolling contract which may also mean they are paying more for their energy than they need to.
In the industry, this is known as a deemed contract and higher rates may apply.
So, the first step is to speak with the energy supplier to see if they can offer a better deal and, if they do not, then it’s time to begin the search for a fresh energy supplier. However, the business may also need to appreciate that their contract may restrict when they can make the switch to a new supplier.
It’s also worth pointing out that this is also a good basis for the search since the business will appreciate what the market is charging and how their current supplier’s tariff compares with their competitors.
It’s also worth noting that for a business on a deemed tariff that their supplier has an obligation to inform them about other potential contracts and how the business can find out more information about these.
Looking for cheaper business gas suppliers
The next step is to take regular meeting readings or to check their bills over recent months and understand what their consumption needs are and when their peak usage periods are as well – this will be helpful particularly for those looking for cheaper business gas suppliers, for instance.
The business will also need to take a note of their meter’s unique registration number; for electricity meters they will need the MPAN, or the meter point administration number, and for gas meters it’s the MPRN, or the meter point reference number.
These numbers are located on the metres but also on the bills and they will need to be given to a new supplier.
It’s always worth checking the contract for a new supplier and the business should appreciate that in the market, most of these business deals don’t have a cooling off period, which is when the customer can cancel a contract within an agreed period.
As mentioned previously, their current energy contract may restrict when they can move to a new supplier and their current supplier may object if they are still bound by the contract terms or the business has an energy debt with the current supplier.
However, the energy supplier cannot object to a customer moving if they are on a deemed contract since their contract has essentially expired and the business is no longer bound by its terms.
Though it is also worth appreciating that should the current energy supplier object then they must also inform the business why they are doing so.
Businesses who are looking to use energy experts
For those businesses who are looking to use energy experts in the field, they are known as third-party intermediaries, they should appreciate that some of them may be representing just a few energy suppliers and the business should ask if this is the case.
It’s crucial that a business uses a firm that is comparing the whole business energy market to ensure that they get the best possible deal.
The business should also ask the firm which of its services are being paid for and whether there is a one-off fee or a commission involved in finding a better deal.
Tips for finding new business energy suppliers
Essentially, the tips for finding new business energy suppliers are:
- Check the current energy contract
- Is this a deemed or rolling contract?
- Ensure the business has its bills and meter numbers to hand
- Contact the current supplier for a better deal
- Search the rest of the market for better offers
- Utilise the experience of business energy experts such as D-Energi
- Examine the new contract carefully
- Make the seamless switch.
For those businesses that do decide to switch their business energy supplier then they should be reassured that the process itself is seamless and they will not lose their energy supply during the switchover process.
For organisations looking to change business energy suppliers these are essentially the tips and information they need to find a better energy deal and with competition growing within the market and predictions that our energy bills will rise in the coming years, it’s important that businesses make the effort to find a new supplier when their current contract comes to an end to ensure they never pay more than they need to for their energy needs.