Top 4 insider tips to business energy comparison for SME's

The bottom line of any business, be it whatsoever, is always ‘profit without overspending.’ And this becomes an indispensable responsibility when it comes to small and medium-sized enterprises.

What’s neglected is the consumption used, which plays a mighty role in determining finances. Unlike a household, the energy requirements of a business are massive. The tariffs could vary without boundaries, because business needs are diverse.

The best way to keep the wheels turning is by switching the energy provider. The challenge is: how’d you take your pick?

Presenting 4 bang-on tips to business energy comparison:

Compare costs by breaking them down

True, simply comparing two deals on their surface would tell you nothing about what lies beneath. You need to understand the cost breakup. Ask the providers to show the cost breakdown structure, including details about the unit rates and standing charges.

This would also give you an idea about what’s trending in the market and how much you are being actually charged.

Negotiate until the point of contentment

Now, you have all the cost breakdowns at hand, meaning, you are already acquainted with the ballpark figures that exist. This is the right time to show some negotiation skills and attempt to haggle the price should you feel the need to do so. A word of caution though, it may be more difficult given the current sorry state the wholesale gas and electricity markets are in at present. If you have the right broker in place they would have done the negotiations for you again saving you time and heartache.

Never get into a lock-in deal

This should be paramount. Sometimes, you are likely to fall for automatic renewals, which are lock-in deals in disguise. Such deals will renew the tariff, post a certain time period or if you’ve chosen a rolling contract, disabling you to come out of it.

This would be like taking a millstone round your neck. You need to shift the burden. So, arrange for a switch even before the present deal terminates.

Let a broker do all the work

Businesses can barely spare time to work out their tariffs, let alone discuss costs, negotiate, or even fret about lock-ins. However, there are the risks that tag along because a cooling off period is always absent.

Once you’re into a deal, there’s no scope for settling disagreements. To make sure you’re offered the most competitive quote, try relying on a professional and reputable energy broker. They would work out the best prices for the business and match them with the right suppliers based on value propositions and customer satisfaction. They are able negotiators and would definitely remind you of upcoming renewals whilst keeping abreast of market conditions.

With a reputable broker by your side, expect to get the most favourable tariffs from reliable suppliers without hurting your budget or compromising on the quality of service.

If you are interested in switching or renewing your business energy contracts today or just looking for some advice call us on 01933 448622 for a free business energy healthcheck or email