Securing the best energy deal for a business with multiple locations in the UK can be a complex task. Here’s a comprehensive guide to help you navigate this process in 6 easy steps. We will also go over how working with an energy broker can help streamline this process.
Step 1: Understand your energy needs
Assess energy usage
- Review historical energy usage across all locations.
- Identify peak usage times and any patterns or anomalies.
- Use your meter reading to collect and consolidate all data together.
Consolidate data
- Combine energy data from all sites for a holistic view.
- Use this data to understand total consumption and distribution across locations.
- Keep all data together to make it easier when it comes to renewing multiple meters at once.
Step 2: Analyse current contracts
Contract review
- Examine current energy contracts for each location.
- Note contract end dates, pricing structures, and terms.
- See if it looks like you’re overpaying on any meters.
Step 3: Research the market
Compare suppliers
- Research and compare offers from various energy suppliers.
- Consider factors like price, contract length, customer service, and green energy options.
Understand pricing structures
- Learn about different pricing models (fixed, variable, and flexible rates).
- Analyse which model suits your business needs.
Step 4: Consider a multi-site agreement
Consolidate contracts
- Negotiate a multi-site agreement to cover all your locations under a single contract.
- This can simplify management and potentially offer bulk discounts.
Flexibility and scalability
- Ensure the agreement allows for the addition of new locations or the removal of closed sites.
- Work with a supplier or broker that completely understands your business needs.
Step 5: Negotiate terms
Leverage your usage data
- Use your consolidated energy data to negotiate better rates.
- Larger businesses with a lot of usage can sometimes get better energy rates due to the amount of energy they use.
- Work with a procurement specialist that can use your data to negotiate better prices.
Contract terms
- Pay attention to contract length, payment terms, and any additional fees.
- When prices are low you should sign a longer term contract as this could save your company money in the long run.
Step 6: Monitor and manage
Regular reviews
- Schedule regular reviews of your energy usage and costs.
- Use the data that you find to implement various cost saving measures across your sites.
Stay informed
- Keep up to date with market trends and regulatory changes.
- The UK energy market can fluctuate often. Being aware of what causes prices to fall, and rise can help when it comes to signing your contracts.
How working with an energy broker can help
An energy broker can simplify and enhance the process of securing the best energy deal for your multi-location business. Here’s how:
Expertise and market knowledge
Industry Insight
- Brokers have deep knowledge of the energy market and supplier offers.
- They can provide insights on trends and best practices.
Supplier relationships
- Established relationships with suppliers can result in better deals and smoother negotiations.
- Brokers will leverage their supplier relationships to get cheaper prices that your business wouldn’t be able to find by going direct to the supplier.
Time and resource efficiency
Streamlined process
- Brokers handle the research, comparison, and negotiation process, saving you time and effort.
- Can take care of renewals for all sites saving your company a lot of time and money.
Data management
- They can consolidate and analyse your energy data efficiently.
- They will also keep on top of renewals and let you know when you need to renew.
Customised solutions
Tailored recommendations
- Based on your usage patterns and business needs, brokers can suggest the most suitable energy plans.
- This is a lot more personalised and bespoke than going straight to an energy supplier.
Multi-site agreements
- Brokers can negotiate comprehensive multi-site agreements that simplify energy management.
- Getting prices for multiple sites can get confusing and could be costly if you get something wrong.
Risk management
Mitigate risks
- Brokers help identify and mitigate risks related to energy procurement.
- Brokers monitor the energy market which will ensure you sign at the right time.
Regulatory compliance
- Ensure your contracts comply with the latest regulations.
- A broker will also ensure that you don’t ensure any extra costs by thoroughly analysing your situation.
Continuous support
Ongoing Monitoring
- Brokers often provide ongoing support, monitoring your energy usage and costs.
- They also remind you when its time to renew to ensure you don’t incur extra charges from going on out of contract rates.
Market updates
- Receive updates on market changes that might affect your energy strategy.
- Will make sure you are kept up to date with any changes that might effect your business energy.
Cost savings
Competitive Pricing
- Leverage broker-negotiated rates that might be more competitive than direct negotiations.
- Brokers work with lots of different suppliers to ensure they compare all prices before signing you.
Avoid hidden costs
- Brokers help identify and avoid hidden fees in contracts.
- They will go through everything with your business to ensure there is no surprise costs or charges that you were not aware of.
Securing the best energy deal for a business with multiple locations across the UK requires careful analysis, negotiation, and continuous management. By understanding your energy needs, comparing suppliers, and negotiating effectively, you can achieve favourable terms.
However, partnering with an experienced energy broker can significantly simplify this process, providing expert guidance, saving time, and ensuring you get the most competitive rates tailored to your business needs.
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.
