How to Compare & Switch Business Energy Supplier

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    Have you reviewed your business energy contract recently? Do you know how the tariff you’re on compares with other suppliers? Many business owners fall into the trap of not giving their gas and electricity contracts the time and attention they require. In the long term, this could mean that they end up paying out far more than they need to for these resources.

    Whether you mistakenly believe that switching will be too time consuming or you simply don’t understand all the jargon and figures associated with energy tariffs, you’re missing a trick if you’re not comparing energy suppliers and switching to a better deal when you find one.

    In this article, we take a look at how to weigh up business energy suppliers against one another, why you should bother, how switching business energy suppliers works and more.

    The process of switching energy suppliers

    Once you’ve found an energy deal you are happy with, it’s time to look into switching.

    1. Before you take action, it’s important to ascertain whether it’s the right time to make a business energy switch. If you terminate your contract early, you may have to pay a fee so it’s important to get this right if you don’t want to end up out of pocket.
    2. If you decide that it’s a good time to change to another provider, give your new supplier as much notice as possible and tell them when you want them to stop supplying your energy.
    3. Next, you’ll need to sign up to your new contract and confirm the date they will take over your energy supply. You’ll also need to decide how you plan to pay your bills. Paying by direct debit is often the most cost-effective option.
    4. On the day of your switch, you should take meter readings and send them to both your old and new supplier to ensure you don’t end up overpaying.

    How to change energy suppliers without penalty

    As previously mentioned, it’s important to know when you can’t switch energy providers and when it might end up costing you more than it’s worth.

    If you’re on a standard tariff, you are free to change to a new provider whenever you like without having to pay any penalties. However, if you have a fixed-term agreement in place, you’re essentially locked into the contract until it expires and you may incur an exit fee if you wish to get out of it early. In some instances (if you’re on a very high fixed tariff, for example), it may be worth paying the exit fee as the amount you’ll save on your bills could more than make up for it. However, this is by no means always the case so it’s important to do your sums carefully before deciding whether or not to terminate early to ensure you don’t end up losing money.

    Be sure to read the terms and conditions of your current contract carefully and get in touch with your supplier if you’re in any doubt about whether or not you will have to pay an exit fee. You can also ask them to confirm when you need to give notice of termination if you’re unsure.

    Why switch business energy suppliers?

    There are a variety of reasons why it may be a good idea for you to consider switching energy suppliers. Here are some of the most common:

    • To save money

    Saving money is the top motivating factor for switching to another energy company. Whether you run a micro business, an SME or a large corporation, keeping costs to a minimum is a major priority when running any commercial organisation. By comparing your energy bills against other contracts on the market, you can often find better deals, which can help to keep your business overheads to a minimum and ensure you’re paying the fairest price possible for your gas and electricity.

    If you’re on an out of date contract or your energy bills are simply putting too much of a financial burden on your business, you should make switching a priority. However, even if you think you’re happy with the tariffs you’re paying, it’s a good idea to compare deals from time to time as rates can change regularly.

    • To take advantage of green energy savings

    If you’ve decided to invest in renewable energy systems, such as wind turbines, solar panels or hydroelectricity, it’s advisable to scour the market to find the best renewable energy deals on offer.

    • For better customer service

    If you’re unhappy with your current energy supplier’s customer service, it’s important to take the correct steps to resolve the problem by making a complaint. If you’ve complained directly to your supplier and to the Energy Ombudsman and still aren’t happy with the service you’re receiving, you may decide you’d like to try out another supplier.

    Making switching easy

    Here at Utility Bidder, we’re here for you every step of the way. Our experts can help you to identify the best possible solution for your business and make switching an effortless process. For more information on how we can help your business to get a better deal on your energy, call us on 0800 007 4001 or fill in our quick contact form.

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    Choose your business address

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    Go Back
    Select Utility
    Now please select a utility I want to get prices for...
    Gas
    Electric
    Gas & Electric
    Water
    Go Back
    Next
    Please enter your business gas information
    How much do you spend & how often?

    An estimate is fine if you don't have a bill to hand

    Go Back
    Get Prices

    Let’s save time, can we automatically gather meter information?

    ? What does this mean?
    To get your quotes at lightening speed we need several key pieces of information which can all be found on your electricity bill. But by simply ticking this box, we can search ‘industry held data’ to get your meter number, electricity consumption and current energy supplier. This means that we can get you quick quotes without asking you to dig out all of your paperwork. This is personal data therefore we need you to allow us to access this information.
    Go Back

    Do you know your electric meter number?

    Does your meter number end in any of the following?

    Go Back
    Enter meter number
    I don’t know
    Please enter your business electricity information
    How much do you spend & how often?

    An estimate is fine if you don't have a bill to hand

    Start date for a new contract?
    Get Prices
    Please enter your water information
    How much do you spend & how often?

    An estimate is fine if you don't have a bill to hand

    Go Back
    Get Prices

      Enter your details below to get quotes We’ve helped over 90,000 businesses