Are you with a current energy supplier and is now considering a switch any time soon? Well, you have clicked the right article, for we are about to share with you some tips on when you should start planning to switch to a new business energy supplier.
When it comes to switching utility supplier, it is essential to consider the time of your switch, for it will primarily affect if this decision may result in better savings. Since contracts bind all business energy deals, this document is what you need to consider first — what it says about exit policies and when your contract ends. Other factors to keep in mind are your average consumption and current energy rate with your supplier. So, when is the best time to leave your old supplier and settle with a better one?
Your contract is about to end.
Start seeking new offers from energy suppliers when there are only a few months left on your contract. Remember to review your agreement and see the company’s policies on exit fees. Once your fixed-rate period ends, you will be automatically put on a variable tariff, so make sure you have already switched during the given window after the contract ends and before your supplier transition your plan.
When you see better deals in the market
Sometimes, it is better just to pay exit fees and switch to a new supplier, especially if the deals on the market are significantly lower and better. Remember to analyse this carefully so you can make sure that you are really saving more money with a potential new supplier.
When prices are about to increase
Energy prices in the market tend to fluctuate depending on the economy. There are instances where prices are expected to increase, affecting those in a variable tariff deal. If this is your case, consider switching to a fixed-rate tariff before the prices surge and your costs increase.
You are about to upscale your business.
Once you decide to finally upscale from small to medium-sized business, you also have to switch your deals and suppliers. Remember that the larger the company is, the cheaper the rates are going to be.
Consider switching before the season changes.
People are expected to use more gas and electricity for lights and space heaters in the UK when the winter finally arrives. Because of this, business energy bills tend to increase since consumption becomes larger. Consider switching to a cheaper rate around October to save more.
Hire a utility broker for your switch
For a smoother switch and transition, ask assistance from a utility broker or energy consultant. Finding better offers for business owners to reduce their costs is among their expertise. All you need to do is provide the name of your current supplier, your rate with them, and your company’s average energy consumption. They will find you better rates from other suppliers and help you compare them to see which one is more favourable. Utility brokers can also handle the entire switch from start to finish, saving you money and time and energy. Ask help compare business energy quotations with a utility broker.