Signs its Right Time to Change Energy Suppliers

Did you know? Suppliers are making around 500m in excess profits thanks to UK businesses overpaying on utility bills.

By shopping the market and taking the time to match business energy quotes, your organization can save to 40% on business energy tariffs.

Here are 5 signs that it is time to match business energy prices:

1. Your existing contract is dead

It's important to remain on top of your energy contract in order that you recognize once you can switch suppliers and save. When your contract is close to ending, your supplier will offer you a window period during which to seek out a replacement deal. If you miss it, you'll be placed on higher rates by default once your contract expires.

Top tip! You’ll be placed into a replacement contract 120 days before the top of your current one. Bear in mind that it can take 28 days to process a switch, so don't leave it until the eleventh hour.

2. You're on a deemed contract.

If your current contract has already expired, you'll are moved onto a deemed contract with expensive out of contract tariffs.

Avoid paying quite you would like to: A survey by the CMS revealed that about 40% of companies within the UK hasn't switched energy suppliers. This translates to an outsized number of organizations that are missing out on P.E. savings and paying quite they have to.

3. Your options are limited.

Your energy supplier may recommend a deal without showing you all the available options, which suggests that you simply might be missing out on a more suitable tariff. Your supplier should assist you to compare the various tariffs they need available and choose what's best for your business. Additionally, one supplier can only offer a limited number of packages and pricing. If you employ a broker, on the opposite hand, they will provide you with up to 21 prices support your needs.

4. You signed up while utility rates are high.

Like the stock exchange, business energy rates go up and down. If you signed up for a replacement contract when gas and electricity rates were high, you will be stuck paying these tariffs for the duration of your contract. As a part of our energy procurement service, Smarter Business can monitor the market on your behalf, helping you procure a replacement contract when rates are more favorable.

5. Your supplier hasn't taken your unique circumstances under consideration.

Here are a number of the variables that factor into the worth you pay:

● Organizations qualify for reduced VAT amounts

● Regional variations

● using an equivalent supplier for gas and electricity

● Type and size of your business

Businesses that use more energy can also be ready to negotiate better terms with their suppliers. Within the case of Essex County Laundry (an energy-intensive commercial laundry service), energy broker Smarter The business managed to secure notable savings by ensuring they were on the contract best-suited to their needs.