Switching commercial gas and electricity suppliers is one of the quickest and easiest ways of reducing your businesses’ energy bills.
If you have never switched suppliers – or have entered a new deal with your current supplier without negotiating a new price – there is a very good chance that you are overpaying for your businesses’ energy.
Overpaying can also happen if your business has moved into new premises without first speaking to the energy supplier about any existing supply and tariff.
Put simply, switching your commercial electricity supplier is a quick and easy method of saving money. And when business is all about your bottom line, any easy way to cut costs is worth consideration!
Switching business electricity suppliers is simple and can often be done very quickly. The same applies when switching business gas supplier. However, knowing which energy supplier to switch to can be more complicated – involving extensive research that is usually time consuming and frustrating.
This is because different energy suppliers offer different deals – often leading to confusion as to what is the best deal for your business. However, Confused.com eliminates all such hassle by using your information to quickly compare the best deals on the market, before compiling a list of the cheapest and most suitable deals.
Simply provide some basic information, including the end date of your tariff, your supply type and your Meter Point Administration Number (MPAN) for electricity or Meter Point Reference Number (MPRN) for gas. This may sound a little confusing, however there’s no need to worry – all these details will be on your most recent bill.
The reason for all this information? To help you make a more informed decision – ensuring you get the very best deal for your business.
Whilst switching commercial energy supplier is perhaps the biggest single thing you can do to reduce your electricity and gas costs, there are also a number of smaller methods to help reduce your outgoings. One such method is installing a smart meter.
Smart meters enable you to get a much clearer idea of how much energy you are using and where you are using it. Not only does this provide a useful breakdown of your businesses’ energy needs, but also automatically sends meter readings to your supplier. This takes the task out of your hands, and at the same time, ensures your monthly bills are as accurate as possible.
Other tips include educating your staff to be more energy efficient, such as ensuring equipment is always shut down when not in use, as well as the installation of energy efficient equipment, such as lighting.
When it comes to how much you should be paying for your commercial gas and electricity rates, there are various factors which will be considered by potential suppliers – all of which centre around your businesses’ unique requirements.
These factors include the size and location of your workforce, as well as when your business predominantly consumes energy – daytime versus evening for example. As a result of all this, your business electricity rates will be different to those of other businesses in different industries.
How much you will pay for your commercial energy also depends on factors outside of your control, including:
- Transmission Use of System (TNUoS)
- Distribution Use of System (DUoS)
- Wholesale energy costs
- Climate Change Levy (CCL)
- Metering costs
Generally speaking, these factors won’t have a huge impact on your overall bill – it’s your consumption that matters most. However, it’s still worth being aware of these extra costs to help you budget efficiently and to make sure you’re not overpaying.
Unlike domestic energy deals that can be completed entirely online, commercial energy deals require a more information and checks – meaning that you will have to do this over the phone rather than online.
But don’t worry, the entire process is still very quick. Our energy advisors will help you compare the best deals out there, taking your details over the phone and then supplying you with a list of the best and most suitable energy tariffs for your business.
As business energy deals are slightly more complicated than commercial deals, due to factors such as time of usage and your location, more information is required by the supplier.
Furthermore, depending on your history, your business may also need to go through a credit check.
The act of switching commercial electricity suppliers is fairly straight forward. It usually takes around 4-6 weeks in total. However, as with domestic energy contracts, your business will be unable to switch suppliers if it is still in contract with another energy company.
For example, if your business is currently in a fixed-term contract, you will have to wait until you are nearing the end of your contract. This is because you will not be able to change your tariff until you enter your renewal window – these vary from supplier to supplier. But remember, in some cases, your renewal window can begin 6 months before your contract finishes, so don’t think you have to wait until your contract is completely finished to make a switch.
If your business is on a deemed rate tariff, you can switch at any time. Businesses classed as ‘microbusinesses’ are only required to provide 30-days’ notice before switching.
Whatever your tariff, make sure you know when your contract ends. If you don’t, you could end up more paying than you’d planned for.