Getting a Business Electricity comparison
Getting a Business Electricity Comparison can seem like a daunting task. With numerous suppliers, contract types and tariffs available, choosing the right tariff for your business might seem like an impossible task.
You’ve probably been inundated with phone calls from suppliers, utility consultants and energy brokers all touting for your business, especially if your contracts are up for renewal any time soon.
If you want a Business Electricity Comparison but aren’t sure where to start, we’re here to help get it ticked off your to do list so you can get on with running your business.
Getting a Business Electricity comparison
Getting a Business Electricity Comparison can seem like a daunting task. With numerous suppliers, contract types and tariffs available, choosing the right tariff for your business might seem like an impossible task.
You’ve probably been inundated with phone calls from suppliers, utility consultants and energy brokers all touting for your business, especially if your contracts are up for renewal any time soon.
If you want a Business Electricity Comparison but aren’t sure where to start, we’re here to help get it ticked off your to do list so you can get on with running your business.
Business Electricity Comparison – Your Current Contract
First things first grab a bill, most of the information you’ll need will on the bill, including your current supplier, contract end date, current rates and consumption.
Are you in your renewal period?
Business electricity contracts are different to those available for your home. Depending on supplier contracts are available for between 1-5 years, sometimes longer, so you might already be in contract in which case you may need to wait until you are in your renewal period in order to look at new contract options and rates.
When does my renewal period start?
When completing your Business Electricity comparison, it’s important to be aware of the renewal period with your supplier. Most suppliers have a renewal period of 12 months before the end of your contract, within which you can secure a new contract with either your current or a new supplier.
It’s always advisable to complete your business electricity comparison as early as possible as wholesale prices are generally cheaper the further ahead you secure them. Leaving your contract until the last minute means you are exposed to any existing market conditions which normally result in higher prices. Not completing your business electricity comparison on time may also reduce the number of suppliers able to provide you with comparative prices or worse still mean you end up out of contract on out of contract rates.
Out of contract rates can be staggeringly high and your current supplier normally won’t allow you to secure a new contract with them or any other supplier until any debt with them has been cleared.
Change of Tenancy (COT)
If you have just moved in to a new premises its important to make sure you carry out a business electricity comparison as soon as possible taking a out a contract with your preferred supplier to avoid being on out of contract rates. In order to submit a change of tenancy you will normally be required to provide proof that you are responsible for the building.