To be honest, comparing business electricity rates is not quite as interesting as watching paint dry. The worst part is that it might save your company thousands. That is actual money meant for bonuses, new tools, or at last replacing that awkward office chair everyone grumbles about. what’s next?
First things first: pick up your most recent electricity statement. I’ll hold back. Sure understood. Well. Look now beyond the frightening overall owing total. Your unit rate—what you pay per kWh—as well as the standing charge—that unpleasant daily amount just for connecting—are the critical numbers. These two numbers include all you need.
Most companies do one major error: they automatically renew without looking at alternatives. Like dating the first person you meet without even swiping right a few times. This slowness is expected by suppliers. Keep from providing them with gratification.
A dirty little secret of the energy sector is that prices vary faster than the mood of a baby. Regarding the “great deal” you signed last year: Most likely trash nowadays. The market has lately been bouncing about like a ping pong ball. Time to find whether you still find worth.
The eternal question is fixed against fluctuating rates. Fixed means (joy for accountants) predictability. Variable might save money… or pay more should prices rise. Ask yourself: Are surprises something your cash flow can manage? Should not be the case, lock it in.
Look out for contract terms like a hawk. If prices drop in twelve months, that incredible twenty-four-month offer loses appeal. And departure charges? Designed to trap you, they are the energy world equivalent of a gym membership cancellation policy.
Have half-hourly meters ever heard of? These bad lads could be your golden ticket if your company runs on electricity. They monitor usage minute-by-minute, allowing you to move activities to less expensive periods. While running the dishwasher at three in the morning seems absurd, your wallet will thank you.
Not only for hippies nowadays is renewable energy. Many green tariffs now are the same as standard ones. They also look fantastic on your environmental report. Win-wise.
One advantage of comparison websites is that they do not list all the current discounts. Sometimes you have to answer the phone and negotiate as though you were in a Turkish market. Use that to your advantage: suppliers would much prefer offer a discount than lose a customer.
Check the fine print for sneaky clauses as well. Certain agreements automatically roll into better rates. Some have covert rate hikes disguised in paragraph 37(b). Walk away if the terms seem like those of a lawyer with a grudge writing.
Not usually the winner is the least expensive offer. A provider with appalling customer service will cost you extra in terms of stress and downtime. Check reviews. Speak with other entrepreneurs. Reliability would make a few cents more per unit well worth it.
Comparatively to changing your auto insurance, choosing an electricity provider is ultimately unpleasant yet essential. Spend an hour on calls, then you might be laughing all the way to the bank. Your lowest line of reference will appreciate it.