When to Switch Business Energy Supplier?
When should you be switching your business energy supplier?
There isn’t a specific window which is the best time to switch business energy supplier. Each business will have different requirements, costs, contract dates and terms and business energy meters. The best switching window for each business is different, and dependent on a range of individual factors.
Why is it important to keep on top of your business energy contract?
Simply put, it can cost you if you don’t manage your business energy account. If you don’t switch at the right time, you could end up on a much costlier rollover contract. These contracts are about 80% higher than fixed-rate contracts, and as many as 10% of UK SME businesses are paying these rates.
This happens when businesses don’t renew in time and fall into ‘out-of-contract’ rates from their business energy supplier. But how do businesses get here and why does it happen?
- Time: Business owners are very busy. They could simply forget that their contract is due to expire and inadvertently run into out of contract rates.
- Logistics: Often, businesses won’t have people to exclusively look after their energy. A lack of expertise here can be costly when it comes to managing your energy or switching business energy suppliers.
According to the Competition and Markets Authority (CMA), millions of UK businesses overpay on their energy contracts through improper tariffs. This costs them half a billion pounds a year in total in excesses that could have otherwise been saved.
It’s therefore vital to look at switching energy supplier in advance of your current contract end date.
Why do I need to switch energy supplier?
Contrary to popular opinion, suppliers offer no bonus for loyalty. Contract renewal offers don’t factor in any existing ties with your current supplier. So it’s worth shopping around before you sign.
Business energy suppliers will each offer individual options. Some will be more relevant to you than others. You should always choose the supplier that will take care of all your business energy requirements as well as being able to provide reliable service.
Supplier offers and price-books change regularly depending on the market and other external factors. It’s worth comparing the market to see the quotes available to you at that time. It’s something which only takes seconds with BusinessEnergyQuotes.com.
If you sign your renewal through BusinessEnergyQuotes.com, you’ll even receive your own Business Account Manager who oversees your account for the duration of the contract. This could let you reduce your overheads while giving you the assurance that your account is being handled by energy professionals.
When is the best time to switch business energy supplier?
For all UK businesses, there is usually a good window they can take advantage of to find a cheaper energy deal. This window is usually just before your current contract is due to expire, though it can vary between suppliers.
To find out if you can get a cheaper business energy contract in just 10 seconds, use BusinessEnergyQuotes.com.
Don’t miss your window!
Why should I sign a new contract before my current contract ends?
Once you agreed the deal with your former supplier, you’re obliged to fulfil the payments. But you’re free to sign a contract with a new supplier once the old one expires.
Leaving your contract too late might cost your business excess charges on a more expensive tariff.
Which business energy suppliers can I choose from?
At BusinessEnergyQuotes.com, we work with 22 business energy suppliers, including the ‘Big Six’. Our supplier panel includes Green Energy providers, and each of them will offer you quotes based on your actual energy use, so you get the faster quotes with more accuracy.
Ready to switch your business energy supplier?
If you’re ready to start saving on your business energy costs, visit BusinessEnergyQuotes.com.
You only need your postcode, and current contract end date to search for quotes in seconds. Our team will handle the switching admin for you, giving you total peace of mind. You won’t even need a phone call!
For your hassle-free Business Energy Quote, go to BusinessEnergyQuotes.com