If you run a business, you’ll appreciate just how time-consuming switching energy supplier can be – not only are there no ‘off-the-shelf’ tariffs to choose from, meaning you’ll have to get individual quotes from each and every supplier, no dual-fuel option means you need to get separate deals for both gas and electricity.
And if you don’t switch within a certain timeframe, and before your current deal ends, you could find your business is automatically signed up for another year, on a more expensive rate.
So, even if you’re used to switching gas and electricity at home, you still may struggle to get your head around business energy switching.
Here are the main ways business energy differs from domestic energy:
Arguably the main issue with business energy deals is that when your contract comes to an end, your supplier can switch it to a default tariff with little warning, which can result in a price increase of 50% or more.
Figures from the Competition and Markets Authority (CMA) has found that 45% of microbusinesses (broadly speaking, those with fewer than 10 employees) were stuck on their suppliers’ most expensive default tariff.
And the CMA also estimates that small businesses pay about £500m more a year than they should be for gas and electricity.
Although suppliers can no longer automatically impose expensive rollover contracts on microbusinesses, and must publish online prices for commercial customers to make comparing and switching easier, it’s still all-too-easy for business owners to find themselves on more expensive rates.
The best way to make sure your business isn’t paying over the odds for its energy is to give the business energy experts at UKPower a call on 0800 326 5517 , or leave a few details and request a call back, and we’ll compare the market to make sure you get the best deal for your business.
Give us a call as soon as your contract enters its renewal window. If you don’t know when your renewal window starts, your supplier will be in touch with a renewal offer, and you can shop around for quotes when this arrives.
Or, if you know a small business owner who may not have thought about saving money on their energy bills, point them in our direction, and see how much we can save them.
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.