Business energy deals procurement is probably at the bottom of most business owners’ priority list. Which is understandable, because they have a lot on their plate.
Some may be lucky enough to be on the best tariff. Othersdon’t even know that they’re overpaying.
Prioritising your business energy will save you a lot of money in the long run!
Are you a business owner yourself? If so, do you think you’ve already got the best energy deal for your business?
We’ve listed a few questions below to ensure that you’re on the best deal:
1) What energy plan should I choose: Fixed or Variable?
You’ll most likely come across these terms, whether or not you’re shopping around for business energy deals.
Fixed-term plans have unit charges that will stay the same for a certain period. These contracts normally last 1-2 years, depending on the supplier.
This means that if energy prices go up (or down), you will not be affected by the changes. However, once your contract ends and you wish to renew it, the cost is subject to change.
Variable-rate (or Flexible) plans, on the other hand, will be affected by price fluctuation. The cost per unit of energy (both gas & electricity) changes so often, it could happen almost daily!
This contract may sound a tad bit scary to be on. However, its cost per unit is sometimes much lower compared to fixed-term plans. This is why collecting and comparing quotes are crucial.
If you’re handling an energy-intensive business, you should keep an eye on your energy activity & manage it just as intensively. However, a lot of businesses prefer being on a fixed-rate contract; it provides budget security & gives them enough confidence to spend energy. You can learn more about fixed and variable rates here.
2) Long-term fixed rate: is it the best option to look at? Will it help my business?
A hundred times, yes.
Opting for long-term fixed-rate business energy plans will surely protect your business from dramatic price fluctuations in the future. Imagine having one less thing to worry about?
It sounds like a dream, but it’s possible.
Make sure not to overlook the benefits & keep your eyes peeled for the best deals in your region.
3) What is a time-of-day tariff? Will it suit my business type?
A seasonal time-of-day tariff (or TOD) promotes energy consumption during off-peak periods. If your business has a certain pattern of energy usage, then maybe you can take advantage of the TOD.
Suppliers often offer cheap prices whenever the demand for energy is low. On the other hand, prices will hike during peak periods.
For example, Off-peak hours are USUALLY between 10:00 PM and 8:00 AM- which are typically the quieter periods.
Take note that off-peak hours will vary depending on the time of the year, your energy supplier and location.
You may reach out to your current supplier to find out more about off-peak hours.
4) Will I have access to energy market insights?
It depends on your energy supplier.
You could ask them for a yearly market report if you want to stay up to date with the market movement.
However, these market insights can be quite overwhelming to look at – especially if you’re not an energy professional yourself.
Most energy suppliers in the country are always open to any energy-related questions. Should you find yourself needing clarity or reassurance, reach out to them.
Suppliers will look at your energy use and inform you about any changes, should there be any.
5) How do I know if sustainability is part of my business energy strategy?
It’s pretty simple: if you & your employees find yourselves using energy wisely, then you’re definitely on the right track.
There are many simple ways to promote energy efficiency, it can even be as simple as switching the lights off when they’re no longer in use, or replacing obsolete equipment, running an energy audit, and all things alike.
6) When should I start shopping around for business energy deals?
If you find yourself struggling to pay for your business energy bills, or if you’re certain that you’re being ridiculously overcharged by your current supplier, then now is the time to start shopping around. Switching tariffs and/or suppliers
Luckily, we’ve made the entire process 10x easier for you! Manually collecting business energy quotes by yourself (as a business owner) can be extremely tedious, and we COMPLETELY get that.
To make things much more efficient, we’ve built a clever tool that makes business energy price comparison so easy that it will only take 60 seconds of your time.
All you have to do is scroll all the way to the top of your website & fill out the form. Once you’re done, we’ll send you an unbiased, custom-tailored list of the best possible quotes in your region based on your business needs & requirements.