If you’re a business owner in the UK, you may already be aware of the benefits of switching your energy provider to reduce your operating expenses. However, navigating through the various providers and their offers can be overwhelming.
Fortunately, business energy comparison sites in the UK can help make the process much easier. These sites allow you to easily compare prices and features from multiple providers, making it simpler to find the best deal for your business. In this step-by-step guide, we’ll walk you through the process of using a business energy comparison site to compare and switch your electricity provider, so you can start saving money on your energy bills.
Step 1: Gather Your Current Information
Before you can start looking for a new electricity provider, you need to know how much electricity you’re currently using and how much you’re paying for it. Gather your most recent electricity bill and make note of the following information:
- Your current supplier
- Your contract end date
- Your unit rate (the cost per kWh of electricity)
- Your standing charge (a fixed daily charge for providing your electricity)
- Your annual consumption (in kWh)
It’s important to note that if you’re currently in a fixed-term contract, you may have to pay an exit fee to switch to a new provider. Check your contract terms to see if this applies to you.
Step 2: Research Different Electricity Providers
Once you have your current information, you can start researching different electricity providers. There are many providers to choose from in the UK, each with its own rates and plans. You can start by using a comparison website to see what’s available in your area.
When you’re comparing providers, pay attention to the following:
- Unit rate: This is the cost per kWh of electricity. A lower unit rate means you’ll pay less for each unit of electricity you use.
- Standing charge: This is a fixed daily charge for providing your electricity. A lower standing charge means you’ll pay less for the service of providing your electricity, but may pay more per unit of electricity.
- Contract length: Providers offer contracts with different lengths, ranging from 1-5 years. A longer contract may offer a lower unit rate, but you’ll be locked in for a longer period of time.
- Renewable energy options: If you’re looking to reduce your carbon footprint, look for providers that offer renewable energy options.
Step 3: Compare Prices and Choose a Provider
Once you’ve researched different providers, you can use the information you gathered in Step 1 to compare prices. Use a comparison website or contact providers directly to get quotes based on your current usage and contract end date.
When comparing prices, make sure you’re comparing the total cost of the contract, including the unit rate, standing charge, and any additional fees. Don’t just focus on the unit rate alone.
Once you’ve compared prices, choose the provider that offers the best deal for your business. Make sure you read through the contract terms carefully before signing to ensure you understand what you’re agreeing to.
Step 4: Notify Your Current Provider and Switch
Once you’ve chosen a new provider, you need to notify your current provider of your intention to switch. You’ll need to provide them with your new provider’s details and the date you want to switch.
Your new provider will handle the switch for you, and you shouldn’t experience any interruptions in your electricity service. You’ll receive a final bill from your old provider, and your new provider will start billing you from the date of the switch.
Step 5: Monitor Your Bills and Usage
After you’ve switched providers, it’s important to monitor your bills and electricity usage to ensure you’re getting the best deal. Keep track of your monthly bills and usage, and compare them to what you were paying before you switched. If you notice any significant changes, contact your provider to discuss your options.
Step 6: Check the Quality of Customer Service
Before signing up with a new electricity provider, it’s important to check the quality of their customer service. Look for providers with good reviews and ratings from previous customers, and check if they have a customer service team available to answer any questions or concerns you may have.
Step 7: Consider Bundling Your Services
Some providers offer bundles that include both electricity and gas, which can be a convenient and cost-effective option for businesses. Bundling your services with one provider can also make it easier to manage your bills and account.
Step 8: Check for Additional Fees
When comparing prices between different providers, make sure you check for any additional fees or charges that may be hidden in the contract terms. For example, some providers may charge an early exit fee if you want to end your contract before the end date.
Step 9: Energy Saving Measures
You should also consider implementing energy-saving measures in your business to reduce your electricity usage and further reduce your bills. This could include things like turning off lights and equipment when they’re not in use, switching to LED light bulbs, and upgrading to energy-efficient appliances.
Additionally, it’s important to keep an eye on your contract end date and start looking for a new provider several months before your contract expires. This will give you plenty of time to compare prices and find a new provider without having to pay any exit fees.
Switching providers can seem daunting, but it’s a simple process that can save you a significant amount of money on your electricity bills. By following these steps, you can find the best deal for your business and make the switch with ease.
It’s also worth noting that you can switch your gas provider using the same process. Simply gather your current information, research different providers, compare prices, choose a provider, and notify your current provider and switch.
In conclusion, switching your business electricity provider is a simple process that can save you money on your bills. By researching different providers, comparing prices, and choosing a provider that meets your needs, you can make the switch with ease. It’s important to monitor your bills and usage after the switch and implement energy-saving measures to further reduce your costs. Don’t forget to start looking for a new provider several months before your contract expires to avoid paying any exit fees.
