With the start of a new year, right now is the perfect time for your business to start thinking about renewing your next energy contract. However, blindly renewing with the same company could be a huge mistake. Why not take advantage of switching to a brand-new supplier with better benefits? We know the switching process can be daunting, but with this guide you can ensure you have a simple and clean switching process.
Why should I switch suppliers?
Whilst your business might have its own reasons for wanting a new supplier, the most common reasons are better prices and better customer services.
Better prices
Before you even consider switching you should look at what your current supplier is offering when it comes to prices. If cheaper prices are the only reason your business wants to move to a new supplier, it makes sense to explore all options with your current supplier first.
Better customer service
If your current supplier is not helpful with the issues you are having and wasting your time with energy issues, it might be time to switch to a better company. Before settling on a supplier, you should consider customer reviews to ensure their service is going to be good enough for your business.
How do I switch suppliers?
prepare and gather your information.
To make sure you are not delaying your switch when you have found the prices and supplier you want to sign with, follow this checklist below to make sure you have all the information you need:
- Latest energy bill - On this you will find essential information such as supplier name, tariff type and how much you pay for energy.
- Postcode and address of your building.
- You may also need information regarding your bank depending on how you wish to pay. Most energy companies need to do credit checks so keep this in mind when you are switching.
- To make sure you do not suffer from any exit fees you check when your renewal window opens with your current supplier. This is usually 49 days before your contract ends, during this period you are usually free to switch without a penalty from your current supplier.
Review your business budget.
Check your budget before changing energy suppliers to ensure it will not impact on your profits. It is important that you try your best when comparing prices to stay within your set utilities budget. Sometimes it is best to use a broker or consultant when finding your energy deal. A broker or consultant will be able to negotiate with suppliers for a better price.
Find the best deal.
To find the best deal make sure you are using the most accurate data possible. If you do not have a smart or half hourly meter, we recommend taking a meter reading before comparing prices. This will ensure that you find the most accurate prices.
Explore all options.
Make sure you explore all your options before deciding whether you want to switch suppliers. This includes looking at renewal contracts with your current energy supplier.
When is the best time to switch suppliers?
The best time to start looking for a new renewal is when your fixed tariff is ending. You will have a renewal window where you can switch to a new supplier without having to incur a penalty from your current supplier.
Make sure you do not leave switching your business energy until it is too late. If you do not sign your new contract before your current one ends you will be put on your supplier’s standard out of contract or variable rates. This will be a lot more expensive than the prices you signed up for in your fixed contract.
How long will the switching process take for your business?
This can depend on your current circumstances. If you have a fixed contract, start comparing and searching for your next energy deal when your renewal window opens. This is usually around 49 days before your current contract ends.
Switching contracts will not take this long, however it can take up to 30 days for your new provider to take over your energy supply once you have signed the contract. You also need to allow time for you knew supplier to do credit checks on your company before they allow you to sign a contract. However, it can also take less than 30 days depending on your business and location.
Switching suppliers when moving buildings
Although you can transfer your business energy contract to your new premises, you might be able to find a better price with a new supplier. If this is the case, you will be able to end your contract early without exit fees.
If you want to switch you must first ensure that you make your current supplier aware of the date you will be moving premises, it is best to do this at least 1 month before. Contact the supplier to give them your final meter readings and the date you will be moving.
As soon as you have the keys to your new premises you should take a meter reading for your gas and electricity to make sure you are not paying for energy you have not used. You then need to find out who currently supplies the energy for your new premises. You can ask the old tenant for this information or find it yourself by calling National Grid.
Switching suppliers with renewable technology
If you have renewable technology such as solar panels, VO or heat pumps do not worry, you are still able to switch to a new supplier in the same way you usually would.
Your new supplier will take over your license for the feed-in-tariff or on the smart export guarantee if your business has it. So, there is no need to worry about switching to a better deal once you have renewable technology.
Is the switching process worth it?
The switching process could be worth it! There are many benefits to switching such as:
- Cheaper energy tariff- Usually the main benefit and reason for switching energy suppliers is cheaper rates. If you compare different prices you could end up saving your business thousands per year.
- Better customer service- Another potential benefit of switching to a new supplier is better customer service. A lot of business customers always is unhappy with their supplier’s service, especially during the energy crisis. However, if you switched with Resolve Energy you would have your own dedicated account manager that deals with issues for you regarding your energy throughout your contract.
- Potentially lower carbon footprint- If you switch to a green energy tariff you could also massively reduce your businesses carbon footprint. A lot of the greenhouse gasses businesses are responsible for coming from secondary sources such as gas and electricity used. Switching to a green tariff would massively improve this.
- Longer fixed contract- Another benefit of switching can be having a longer fixed contract, meaning you do not have to worry about your energy bills going on for quite a few years.
If you're looking to save money on your energy bills then why not get in touch today? The relationships Resolve Energy has developed with over 24 of the UK’s biggest business energy suppliers allows our energy experts to source the best business energy rates available for your company right when you need them. Request a free quote today and start saving money on your energy.
