Switching your Business Energy: Where to Start

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Business Energy Search
February 16, 2023
Min Read

Finding the right business energy tariff can be a complex and time-consuming process, but is a critical aspect of managing your company's overheads. In this article, we look at some of the key factors to consider when procuring energy for your business.

Market Trends

The UK energy market has been subject to a wide range of factors that can affect prices and availability. These include geopolitical events, fluctuations in supply and demand, and changes in government policies and regulations. In recent years, the UK has seen a significant increase in the cost of fuel, leading to fear and uncertainty for businesses and consumers alike.

The variable rate price cap for households has led many consumers to hold off from securing a fixed deal. But for businesses, it is in many cases still beneficial to seek out a fixed tariff, as out-of-contract rates remain largely more expensive.

Stick or Twist?

It may be tempting to stay with your current supplier when your fixed term ends, but at what cost? Not only might there be a better fixed rate available via an alternative supplier, you might also be able to find tariffs that better suit your business needs.

For example, does your supplier offer renewable electricity tariffs? As the UK moves towards Net Zero, businesses are facing increasing pressure to cut their carbon emissions. While many suppliers are offering green tariffs, there can be significant variation across the market.

It's also worth considering whether their customer service standards are meeting your needs. For example, are their response times adequate? Do they offer any value-add services? Are your bills accurate and on time? If not, it may be time to look elsewhere.

Using a Third Party Intermediary

In addition to the standard complexities of shopping around, the current market turmoil creates a compelling case for using a third party to arrange your energy contracts.

If you’re considering using a broker, here are some key points to consider:

- Does the broker provide ongoing customer support, even after contracts have been signed?

- Do they provide energy monitoring tools and advice to cut your usage?

- Are they independent and unbiased?

- Do they have good reviews?

- Do they work with a wide range of suppliers?

- During your initial call, has the consultant used pushy sales tactics or confused you with industry jargon? A good intermediary will make sure you understand all your options so you can make an informed decision.

At Business Energy Search, our dedicated customer service team is available to support you from day one, and throughout the duration of your fixed term. We can also help you monitor and reduce your usage, enabling you to save even more on your energy. We are a fully independent service, and our strict code of practice highlights the importance of putting the client first.

If you'd like to know more, get in touch or get a quote, and let's find out how much we could save you.