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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Research by the Federation of Small Businesses has revealed that 70% of businesses have experienced difficulty when it comes to comparing energy suppliers, with 43% saying they have never switched suppliers. These are incredible numbers when you think about how the cheapest business electricity prices could help you save money as a business.
A lack of understanding about different energy suppliers, wanting to remain loyal to existing suppliers, and a concern about the effort and time it may involve to switch business energy suppliers are all things that stand in the way of businesses potentially making the switch to the cheapest business electricity supplier.
However, switching business energy suppliers is not the long and complicated task that you might think it is, and the savings you could achieve will make any slight effort on your part well worth it.
Here are some FAQ’s relating to switching business energy suppliers.
#1 How do I find out who my existing supplier is?
You can find out who supplies your current business gas and electricity, by looking at your most recent utility bill – the contact details of your current supplier will be printed on it.
If you have just moved to new premises or you can’t find your latest bill, you can contact the Meter Point Administration service to ask for their details.
#2 What is a deemed contract?
If you have recently moved into new premises then a deemed contract will probably be in place for your electricity, gas, or maybe even both if you have not agreed on a contract with your current supplier. If your existing contract has come to an end but you are continuing to consumer electricity then a deemed contract probably exists. The cost of deemed contracts tends to be about 80% more expensive than a negotiated contract – so you can see why they are not good news for many businesses.
#3 What is a rolling contract?
A rolling contract is when your business gas or electricity supplier rolls you over into a new contract automatically – which may be the case if you fail to tell your supplier of your intention to end a contract before the end of your notice period.
#4 Do I need to tell my existing business energy supplier that I am leaving them?
Yes.
If you decide to leave your existing energy supplier and switch to another one, then you must inform your existing supplier by either
Telling them directly
Asking your comparison company (D-ENERGi) to provide them with a Letter of Authority (LoA)
#5 What is a Letter of Authority (LoA)
A Letter of Authority is a recognised legal document that allows us to liaise with energy suppliers on your behalf, with your permission.
It basically allows us to call time on your existing tariff and set you up on a cheaper and more competitive one.
D-ENERGi is here to help businesses across the UK save money and make the switch. Call us today so that we can help you find the cheapest business electricity rates UK.
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In the past, if you wanted business gas, the only choice for you was British Gas. This is not the case these days as there are now lots of business gas suppliers to choose from, meaning you can now opt for the one that best suits your needs.
Each business gas supplier will have its own range of business gas rates, customer ratings, and offers that will make it easier for you to compare them and find the best one for your business. While the price you are charged for your business gas should always be the most important thing you think about when switching suppliers, it is not the only thing you should consider.
If you are solely focused on price then it will potentially be easy to pick the best supplier, but some business owners will be looking for additional benefits such as different payment methods, longer contract times, or suppliers who have the best customer service.
Business Gas Contracts
When it comes to business gas contracts, there are two things you need to keep in mind, to begin with:
Unit cost – the amount your business gas supplier is charging per unit of energy
Standing charge – the set price you pay for maintenance and transportation
Then you need to look at the type of contract they are offering:
Fixed-term contract – this type of contract ensures the price of your gas stays the same throughout the contract term. So, the cost per unit will stay the same, but your bill may differ depending on how much energy you use.
Variable-rate contract – the cost per unit of gas may fluctuate throughout the term of your contract. It will go up or down depending on market activity.
Deemed rate contract – this is sometimes also called ‘out of contract’ tariff and can be very expensive, so it is not one you want to find yourself tied into
28-day contract – this is a very rare type of contract as it only applies to businesses that have not switched suppliers since gas deregulation
Rollover contracts – if you missed the opportunity to switch to a new gas supplier you may find your supplier assumed you wished to stay on the same contract and so just rolled you over
Using D-ENERGi to compare business gas tariff prices
Your first step should be to grab a copy of your most recent gas bill as this will contain all of the information, we need to get you a better deal from a new supplier. Once you have contacted us and told us the information we need, we contact lots of different gas suppliers to get quotes on your behalf.
Get the best prices on your business gas by contacting the D-ENERGi team on 0800 781 7626.
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If you want to know how you can find your next business gas supplier without wasting a lot of time scouring the Internet, then this article is for you.
The most effective and quickest way of doing so, instead of searching by yourself and finding only those that stood out thanks to the promotion of a company like The Marketing Heaven, is to call the D-Energi team and ask them to carry out a search of commercial gas providers on your behalf because:
The team can search the entire marketplace
They can explain any offered contract to you
Take care of the paperwork
Ensure the switchover process is completed properly.
Alternatively, as a busy business owner, you may be faced with the prospect of finding business gas suppliers and then negotiating a deal.
Search for cheaper business gas rates
In the search for cheaper business gas rates, there are some issues that you will need to understand. They include:
You could use a business gas comparison site but be aware they may not be searching the entire market
Indeed, they probably are not so you should check how many business gas suppliers they contact before using them.
You could contact business gas providers separately but this is time-consuming.
The other issue you have is that you will need to compare bespoke deals between providers to ensure you get the best possible business gas tariff.
Business gas supply market in the UK
However, if you are not searching the entire business gas supply market in the UK, how will you know that you have found the best provider on that day, offering the best deal? The answer is, you won’t.
In addition to finding business gas providers, you also need to appreciate the difference between:
The unit rate: This is the amount you pay for the gas consumed and is measured in pence per kilowatt-hour
This should not be confused with the standing charge, which is an amount you pay for gas to be delivered to your premises. This charge is not a set amount and can vary by a very big amount between suppliers.
Not appreciating the second point may mean you spend more on your business gas overheads than you currently do because you did not take time to calculate what the potential new contract will cost over a full year.
That’s not the case when you use the experts at D-Energi who can find your next business gas supplier in just a few minutes.
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If your firm wants to reduce overheads, then you should move your business electricity supplier to save money on your electricity energy bills.
The process is straightforward when you want to switch between providers and the experts at D-Energi can help you do this.
They can also search the entire market to find an electricity deal that will best meet your needs, so you will reduce overheads and boost profits.
Alternatively, if you want to move your business electricity supply you could contact providers directly but this can be time-consuming and it could also be a confusing process comparing the deals between each supplier.
Compare business electricity rates between providers
Another way to compare business electricity rates between providers is to use a comparison website designed for this purpose.
While the sites are undoubtedly easy to use and will quickly deliver a market rate for your firm’s size and location, they will probably be only asking a select few suppliers to quote for meeting your needs.
This means there are lots of other potential suppliers who will not be approached to offer a bespoke deal since the business electricity supply market in the UK is a competitive one and there are potentially much cheaper tariffs available.
For those business owners who would prefer to stick with the ‘Big Six’ suppliers, you’ll need to appreciate that the sector is still regulated by Ofgem so business electricity providers are being monitored and will meet their bespoke deal promises.
Search for cheaper business electricity tariffs
The search for cheaper business electricity tariffs is made easier when you contact D-Energi since the experts can source a new supplier from the entire market and have a bespoke deal that reduces costs and meets your business needs.
The friendly team can also help explain the factors that will affect the range of prices being quoted, which may come as a surprise to some business owners.
Essentially, a potential electricity provider will tailor their offering depending on where you are in the country, the size of your business and how many employees you have.
They may also need to know whether you have plans for expansion over the coming year and whether you would like to sign up for a longer deal which may deliver even cheaper prices.
If you are wanting to move a business electricity supplier to save on your overheads, then it’s time to speak with the D-Energi team who can explain how the process works and help you find a cheaper and better tariff.
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All firms and organisations should take time every year to find the best energy prices, so this article will help when switching business energy suppliers.
Among the reasons for a firm to switch will be to enjoy cheaper rates or better levels of customer service.
However, this is also an issue that lots of firms tend to neglect so they remain with a provider through inactivity.
The downside for this failure to act when a supplier gets in touch with details of your next contract is that they have probably been moved across to a deemed rates contract, which tends to cost more.
Switching business electricity suppliers
When it comes to switching business electricity suppliers, there’s more to the process than most firms will appreciate.
For example, you may find a deal with great prices but this may entail signing up for a long-term contract which may have various fees that you were not expecting.
It’s for this reason that you should review the contract being offered by an energy provider to ensure it meets your needs and you understand the details.
Our advice is important for those firms who are tempted to switch to suppliers offering very low prices and you should hesitate before signing a deal of more than two or three years, and some suppliers will offer five-year contract.
Switch business gas suppliers
The advice to be cautious also extends when you want to switch business gas suppliers and while these bills tend to be lower, it’s still worth shopping around.
In the hunt for a new energy provider, you should ask lots of questions and if there’s terminology being used that you don’t understand then ask for clarification. If the supplier is still not making their contract clear then it’s probably an opportunity to look elsewhere.
You also need to make clear what the unit charge and standing charges will be, whether there are cancellation fees and how often you will be billed.
Also, ask the provider about any hidden up-front fees which is also crucial.
It’s important that firms do not pay more than is necessary and you may be surprised that when you begin shopping around various energy providers how their rates vary and what potential savings can be made.
However, you may need help in comparing these offers which will be a bespoke offering from those who understand the market and the contracts being offered.
If you need more advice about switching business energy suppliers and to access the best possible deal, then you need to speak with the experts at D-Energi.
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