Countless companies end up unwittingly paying more than they should for their business energy in each bill. And with energy prices on the rise, this can add up substantially, especially during winter months.
But how do you know if your business is on the best rates or if it’s overpaying and needs to switch energy deal? To find out, examine your contract and then run a comparison. Once you’ve found a better deal, be prepared to switch business gas and electricity deals.
Comparing and making the move to switch business energy may seem like a task that you just don’t have time for in your schedule. But if you don’t switch business gas and electricity deals when they’re up for renewal, then it’s likely that you’ll pay more than you need.
When your current energy deals come close to expiry, your contracts will enter their renewal windows. This is the optimum time to switch business electricity or gas deals. If you fail to switch business energy suppliers or negotiate a new plan, you’ll be moved onto your supplier’s ‘rollover tariff’.
Rollover rates are rarely competitive as the supplier is not under any obligation to give you their best tariffs, and you may have to wait a full year before you can switch business energy deals again. If you haven’t had the chance to switch electricity and gas supplier for more than a few years, then the price of your energy may have gone up substantially.
If you’ve moved into a new building and haven’t yet managed to switch business electricity and gas deals, you’ll be charged a ‘deemed-rate’ until you do. And if you’ve been on the same plan since the energy market was deregulated, you’ll have been placed on a highly-priced 28-day contract to encourage you to switch Business Energy deals.
How much can your business save by switching business energy?
How much you can save by making the move to switch business electricity and gas deals will depend on the contract you’re leaving.
Business Energy quotes are bespoke and often can’t be compared online but on average, small businesses spend £5,100 on electricity and £4,100 on gas per year. A 2015 competition and markets authority investigation revealed that around 40% of businesses haven’t switched in the past five years and 39% have never made the move to switch electricity and gas supplier or tariff at all.
These companies will be able to slash their bills simply by making the move to switch business gas and electricity plans
How to switch business energy
While switching business energy is simple in theory, finding the time to negotiate unique quotes from each supplier can be a time-consuming task. Many find that they simply don’t have the time to switch business gas and electricity deals.
SmallBusiness.co.uk have partnered with Make It Cheaper to help you switch your electricity and gas supplier or tariff. A short phone call is all it takes for their energy experts to determine your consumption habits and needs. During the call it can be helpful to have the following information to hand:
- A recent energy bill
- Your business’s registration information
- Your MPAN and MPRN numbers from your bill or meter
- Your contract’s expiry
- Consumption details/ annual spend
The Make It Cheaper team can then start gathering, negotiating and comparing the best gas and electricity rates for your business. They have the Big Six energy suppliers and many independents on their books to provide you with a range of deals from across the market. We’re confident in Make It Cheaper’s energy know-how and can advise you on which deal is likely to suit best.
When they find you a deal you love, they support you through each step involved in switching Business Energy. With their exclusive Do It For You service, they can even help you stay competitive by contacting you when it’s time to switch energy deal once more, ensuring you’re always on fair business rates.
To find out more please call 0800 035 9659