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6 Mar

How Businesses Can Easily Switch Energy Suppliers

by Simon Thompson
 

There’s no doubt the process for a business to switch energy suppliers is much easier now than it has been previously – particularly for small firms.

One reason for this is that Ofgem, the energy market regulator, has brought in rules that enable a business to find a better business electricity or gas contract than they currently enjoy.

However, it is important to appreciate that the business owner will need to arrange their new business energy deal while they have more than 30 days remaining on their contract.

It’s important to appreciate too, that before a fixed term contract ends, usually around 60 days beforehand, the firm’s energy supplier must tell them how much energy they have used each year and how their current deal will compare with their new contract deal.

Essentially, this information will put the business in a strong position for negotiating a new business energy deal with a potential new supplier when their current contract comes to an end.

Find a new business energy supplier

This change means that business can either remain with their current supplier and continue with their new tariff or shop around to find a new business energy supplier.

For any business owner who likes the sound of saving money on their energy bills but is not sure of when their contract comes to an end, they can check their latest bill which will have the end date of the contract on it and any notice period.

It’s important to appreciate too that a business tells their current supplier that they are planning to switch suppliers at any point before the notice period actually begins.

The aim of this means the business will not have to react within a short timeframe when it comes to finding a new supplier. Previously, this short window of opportunity varied between suppliers and could range between 60 days and 120 days.

This often created confusion within the marketplace and would lead to a business being automatically placed onto a rolling contract which was usually more expensive than the one they were on. The contract would normally be for a minimum term of 12 months as well.

Firm looking for an energy switch

Now, however, there are no windows to worry about for a firm looking for an energy switch and the organization can inform their supplier that they want to switch and begin arranging that switchover process and they can do this from any point after a contract begins to 30 days before it expires.

One big tip for a firm looking to reduce their overheads and switch to a new business energy supplier is to contact a good energy broker around four months before their contract is set to expire – but don’t worry if the time left on the contract is less than this.

The aim is to enable a broker who will have access to the entire market to compare the prices from rival suppliers and then present a business with a quote for a new contract that will, in the vast majority of cases, save them lots of money.

The savings will depend on how much energy a business uses but can range from several hundred pounds to several thousand pounds but with the average gas bill being £3,200 and the electricity bill being £2,500 means there is scope for all firms to save money.

Making the switch between energy suppliers

It should also be appreciated that firms making the switch between energy suppliers could lock themselves into fixed energy rates and be reassured that their price per unit will not increase for the duration of the contract.

Also, a new energy supplier offering a new contract may also be meeting the needs of the business more effectively than a current supplier is doing.

This means it is worthwhile shopping around when a contract is due to end even if the business is happy with their current energy supplier since this will reassure them that they are on a contract they are happy with.

For a business looking to switch supplier, they will need:

  • recent energy bills
  • the contract end date
  • their company details
  • their MPRN and MPAN numbers (which are found on the meter or the bill)

 

Save money by switching energy suppliers

Businesses also need to appreciate that not only can they save money by switching energy suppliers, but the commercial energy market operates differently to the domestic market.

By shopping around, business will be able to find an energy package that will be tailored to their specific needs.

And while this process may appear to be time-consuming, it is easy to carry out some research online but it’s even easier to use a broker who specializes in finding excellent energy deals for businesses looking to switch suppliers.

Indeed, for the price of a phone call, a small business owner can substantially reduce their overheads and boost profitability and be reassured that the switchover process will not see them losing energy supply.

For most firms, the quickest and most efficient way to switch energy suppliers is to contact the helpful and experienced team at D-Energi who will be able to look at the whole business energy supply market and find a deal to impress.

streamextreme.cc