How to compare business electricity suppliers

David Banks
Authored by David Banks
Posted Thursday, May 13, 2021 - 6:59am

If you are a business owner running your own property, you should know how to compare business electricity. Having this simple skill will help you choose the best deals among all the offers. Here are some things that you should consider when comparing one supplier to another.

Deals offered

Each electricity supplier comes up with different deals that can attract potential clients The most common one is where they offer a reduced rate upon sign up during the first months of their service as a marketing strategy. After that period, a regular fixed rate will be applied. This is the type of deals you want to take advantage of, for it can definitely cut your costs even for the time being. 

Every time you switch electricity suppliers, make sure you have seen every possible offer and considered the rates. It is to make sure that you are going the accept the best and most cost-efficient one.

Type of tariff 

Look into the offers and see which type of the two energy tariffs is available. There is the fixed-rate tariff and the variable tariff. Choosing between the two requires critical decision making, which in the end may depend on personal preference influenced by economic and financial factors. 

With a fixed-rate tariff, your rate remains the same for about one to two years or until your contract ends. While variable tariff, on the other hand, changes your electricity rate depending on the market, which means you can potentially have lower rates at one point in a year. However, having an increased rate is equally possible. When comparing suppliers, see what type of tariff do they use in their offers.

Length of contract

Check how long does the contract last for each supplier. Avoid signing with business electricity suppliers with a contract of up to three years. You should also look out for hidden charges or exit fees.

The credibility of each company

One important that is sometimes overlooked is the reputation of the supplier. Usually, we tend to focus on finding the cheapest deals and forget to countercheck if they are even a good value for money. As much as possible, only switch to reputable electricity suppliers. When comparing your options, opt for the one that can guarantee you an excellent service, even if their rate is slightly higher.

Customer service

Aside from credibility, one trait of an electricity supplier that you should factor in when comparing is the quality of their customer service. See how they handle and address client concerns. 

Green energy

This may only be applied to those who prioritise reduced carbon footprint above anything else. If you prefer green energy, seek a supplier that offers it as not all caters to this type of option.

Other services offered

If you need more services other than electricity, look into every supplier if they offer them as well. Depending on the agreement, you may or may not save more money when choosing one supplier for multiple utilities.

Hire a utility broker now!

When comparing business electricity suppliers, you have to consider everything we mentioned above. If you are a busy person, you may have little to no time to think about all of these. If this is your case, consider hiring a utility broker to compare each price comprehensively and present you with the best ones, cutting your time for decision-making way short than it should be.


 

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