Switching your business energy supplier is the best technique for cutting extra charges and growing your profit. But finding the cheapest and best energy provider for your business is not easy. A simple technique is to compare prices and find the cheapest utility provider according to your needs.
According to Ofgem, 93% of small businesses rely on energy resources for their growth. 63% of these mostly switch to the best UK energy suppliers to cut costs. But most businesses don’t know the essential steps they should take before switching energy suppliers. Therefore we gathered factors you should look into before switching.
Determine Your Needs
This is a basic step but is most helpful. As a business owner, you must know how to read your utility bill to learn your business energy needs. To determine your business needs you can follow a systematic approach. Starting from reading the total kilowatt your business energy is consuming. After that monitor the timing which is peak time according to your business consumption.
If you want to make this step easy then install the smart meter, which most utility companies in UK offer free. It will help you in tracking your business energy consumption. This is a digital clock that provides you with in-depth information and helps you reduce energy usage. With the help of a smart meter, you can identify the appliances and practices that consume more electricity and gas.
Compare The Tariffs
To find the cheapest gas and electricity provider for businesses comparison of the rates is essential. You can save 45% of the business energy cost by measuring your needs and finding low tariffs according to those needs. Most utility companies in UK offer two types of tariffs fixed and variable. In fixed they offer you a stable tariff and in a variable the rate fluctuates depending on different factors including government policies, global impact and political situation.
Choosing cheap electricity for business in fixed-rate tariff can provide stability against market fluctuations, while variable tariffs may lead to lower costs when prices drop but can increase unexpectedly during price hikes. To choose cheap tariffs understanding of these are important. Moreover, the standard charges are included in the bill which are government taxes, wholesale rate, VAT and third-party prices. You must compare these too because it depends on the energy supplier and your business’s energy consumption.
Research Customer Service
As a business owner, you not only switch energy supplier in UK your businesses rely on them. You may be expecting that when you need their support it should be there. Customer support is not a thing which you are going to compromise in switching the energy supplier. Now the question is how you can check about their customer support before making a contract with them. The answer is simple there are many worthy social platforms where you can read reviews about their customer service such as Trustpilot, Twitter (X), Facebook, or LinkedIn.
If you think it’s a waste of time then imagine when your bill is up cost or you are not able to pay the bill easily and the energy provider not responding, your business is shut down for two days. Then if this is time-wasting or comparing the customer service of the utility companies UK. According to Ofgem the area that particularly worsened was customers’ experience with the best energy providers in UK. Only 54% of customer mentioned that they are satisfied with their supplier and easy to contact them. Therefore, before switching it is worth checking their customer support team review and response time.
