Business Energy Renewal Mistakes

Some business owners think that spring or autumn are the best times to do business energy renewals as prices can peak in the winter and summer. Some businesses will renew their energy contracts 3-4 month before the contract and date, a majority will leave it to the month to start making enquiries.

The energy market has lots of factors affecting it and can fluctuate due to these. Keeping an eye on the market by getting rates from suppliers or you could end up paying too much. Looking early can be good to see what is happening in the market.

Or, you could use Business Supermarket who has instant access to thirty of the top energy companies. We are constantly looking at prices, its what we do. Let us take the hassle out of renewals and give it the wow factor.

So you have had no problem with your current supplier and you keep your business energy renewal with them year in year out. Renewal rates offered by your supplier can be inflated compared to current rates available on the market. I looked at a friends rates recently, he had stayed with the same company for years and was paying over nine thousand pounds annually more than he should have been.

Its is important you know your renewal date so you don’t go into out of contract rates, this can get very pricy too. You renewal date should be on every bill you receive, Ofgem (The Office of Gas and Electricity Markets) made this mandatory requirement for all suppliers. Prices out of contract can go really high, so be warned.

Termination

If you do get new rates and change supplier you also need to send the termination letter. If this is not done on time you could get caught in your contract for another year depending on what contract you are in. Any balances must also be cleared on the account, this can also hold things up. Business Supermarket can do all this for you, just sign a letter of authority and we do the rest.

So you get some prices for energy and decide to go for the cheapest tariff. You have been ringing suppliers asking to get you the cheapest rate. You may have even given them your current rate or a rate from another supplier to see if they can beat it.

There is more to energy bills than the rate (per kWh) you pay for. Some suppliers may have feed-in-tariff charges separate to the rates. Others will add more to the standing charges if you have had a smart meter, certain suppliers will give you discounts for paying monthly or quarterly. When you do your comparison, make sure the tariffs you are looking at are like for like. You may do a little dance thinking you have the best rate when in fact, you don’t!

At Business Supermarket we often get complaints about energy brokers and energy companies alike. Some energy brokers have cunning ways to get your contract or get in touch with you. They can be quite a nuisance, and some will call you constantly. You need to be careful who you are sharing your information with, to get prices for the energy, you need to give some of your business details and energy details to a broker or energy company. Don’t let a broker fool you into thinking they are from your energy supplier, they could be sitting in a one-bedroom flat somewhere with a laptop and a phone.

Finding a good broker for your business energy renewals can be beneficial. Business Supermarket can broker fantastic deals. We can look through 100’s of tariffs from different suppliers with ease to get you the correct one. We take out the hassle for you and everything is done, along with the switch over.

The big six

Some of the energy companies themselves can get it wrong sometimes, even the big six (top six energy companies). Remember the energy companies are all trying to sell ‘THEIR TARIFFS’ so there is no comparison. Unless you want to spend quite a while on the phone or PC filling out forms. Also, the big companies with 1000’s of leads a day to deal with can be a little unresponsive at times. At Business Supermarket will get you your own professional representative to look at energy prices, energy efficiency, solar panels or anything you wish to enquire about. We have long standing relationships with our customers.

It’s quite common for suppliers of energy to make mistakes in processing your bill. Make sure you check your bill each time it comes through. If there is a mistake, you need to get on to the company, you could be overpaying until the end of your contract.

You should check the rates, standing charges and any other charges such as CCL (Climate Change Levy) and VAT. If you have CCL exemption make sure it’s not getting charged to you. Also, check direct debit discounts are applied or any other discounts you may have been given.

If you have not got a meter reading in on time, look to see if the bill has been estimated. You could be paying more than you need to. Smart meters are good for this, the readings get sent off automatically. We can help you with a smart meter, look at our energy efficiency page.

For business energy renewals, please get in touch.