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20 Mar

Tips When Switching Business Electricity Suppliers

by Simon Thompson
 

There are a number of issues that firms and organisations wanting to switch business electricity suppliers need to appreciate and this article will explain them.

Essentially, when your supplier tells you of the tariff for your next year’s electricity or gas use, then it’s time to look at switching providers to find a cheaper, better deal.

While the process for switching energy providers is straightforward when we do it for our homes, the business energy market is a lot more complicated.

Also, the business tariff that your firm signs up for will be fixed for a period of time, usually 12 months, though there are contracts for longer which may offer cheaper rates.

Search for business gas suppliers

The search for business gas suppliers is similar to that when searching for a new electricity provider for your business and the rules for micro-businesses are different for larger firms as the process of switching is easier.

For those firms who don’t bother switching, then your energy supplier may roll you over to a more expensive contract depending on the size of your business and you may be tied into these rates until the contract expires. That’s not the case for a micro-business who are free to switch after they’ve been rolled over to find a cheaper rate.

However, there are issues that all firms and organisations need to watch for when switching business gas or electricity suppliers.

Along with the contract length, you need to be wary about a supplier offering a low unit rate, usually expressed as price per kilowatt hour (kWh) because they may have a higher standing charge.

The price per unit is the amount of energy your firm actually uses and will be billed for whereas the standing charge is a fixed amount that helps to pay for the National Grid and this isn’t a set fee between suppliers.

You should also read any energy contract offered by a potential new supplier and look closely at the small print and whether there may be any hidden fees involved.

New business energy suppliers

Finding new business energy suppliers can become complicated because the market is so competitive and prices fluctuate on a daily basis, so if you contact suppliers directly and then spend a few days thinking over an offer, you may find that the prices have changed in that time.

There are comparison sites for business energy suppliers and you need to be wary about how many suppliers the site is searching and you’ll still need to contact the recommended supplier directly with your firm’s details.

If you would like more help and information about switching business electricity suppliers, and also gas providers, then you need to speak with the experts at the D-Energi.