How to find a new business energy supplier
Whether you decide to use a broker, an energy switching service, a business comparison website, or to do it yourself, there are so many ways to find the best deal for your business energy rates.
Note that it’s usually not possible to switch business energy entirely online – you’ll generally need to talk with a provider at some stage in the process. This is because business energy deals are often more complicated than domestic contracts, as they’re based on each company’s individual requirements.
Use an energy broker
An energy broker is a paid-for service who acts as a mid-point between business customers and business energy suppliers.
When you contact them, you’ll often need to provide your business post code, which the broker uses to compare which deals are available for you. They'll also arrange a brief phone call to discuss your business requirements.
This is the process for using a commission-based energy broker:
- You contact the broker and provide the necessary information
- The broker contacts suppliers and requests prices, adding on their commission
- The broker provides this information to you as one amount (the rate, plus the commission)
- The broker usually presents a range of deals to you. While they can advise, it’s ultimately up to you to make a choice. Make sure to clarify anything you’re not sure of, and that you fully understand the tariff before signing up
- You agree to the contract, which is usually sent to you via email
- The broker confirms the switch with your new selected supplier, with the supply starting the day after your current contract finishes
- The broker handles the relevant admin, such as the day you switch
- The broker invoices the supplier for your business energy usage
- You should be contacted by the broker again once the next contract is due to end
Energy broker costs
As a customer, you won’t directly see the commission, so you might think that a broker is free. This isn’t the case, so be sure to find out if they charge commission (as illustrated in the steps above), or make their money another way – as well as how much you can expect to pay. Not only does it make sense to double check any fees, but it might help to prevent you from using rogue energy brokers as well.
Review how much it could cost you before using an energy broker service to switch suppliers. Energy brokers could use one of the following fee structures:
- One-off – the broker’s fee must be paid when you sign up to a contract
- During a contract – the fees are paid within the energy cost, e.g. as commission
- Proportion of the savings – an amount from how much you’re saving with the deal
| Pros | Cons |
|---|---|
| - Time-saving - Brokers can do a lot/all of the work for you - Can be a good cost-cutting method - Access to a wider range of suppliers - First or simple consultations might be free |
- Prices can’t be provided online - One or more phone calls required – this can be time-consuming and unsuitable if you don’t like talking on the phone - It’s possible that you could find a better deal without them - Commission-based models might influence which providers are recommended, and how you’re charged |
Not sure which broker is best for your business? Compare business energy brokers using this form – it’s quick, easy, and free!
Use an energy switching service
An energy switching service can help you to switch your supplier, either automatically or via an agent. They can help you by choosing from a selection of suppliers that best match your business energy needs, with only minimal input from yourself.
While some services might only help you to switch suppliers, it’s also possible to use others that offer assistance with more aspects of the process.
In this instance, the companies do the work of a broker, plus the actual switching – all to help you get the best tariff for your business energy. One example of such a service is Switchd – you can learn more about it below.
via https://www.AiUpNow.com
January 4, 2021 at 07:01AM by Scarlett Cook, Khareem Sudlow
