Comparing Energy & Changing Provider – Everything You Need To Know
EVERYTHING YOU NEED TO KNOW ABOUT COMPARING YOUR BUSINESS ENERGY AND CHANGING PROVIDER
It seems everywhere you go you are being told to compare energy prices online and switch provider today. You just can’t switch on your TV or mobile without another advert telling you to do so.
Here at SEAL, we employ the same message. However, we know for sure that by comparing energy and switching provider, your business is guaranteed to save money. Still unsure and feel like you don’t know the important stuff? Well, we have put together a few frequently asked questions which should assure you the process is quick, easy and beneficial.
When can I NOT change my energy provider?
There is no reason you can’t change energy provider at any given time, however there are some things to look out for.
1. If you are on fixed term contract – most companies will penalise you for leaving early. Therefore, it might be worth waiting until your current contract ends.
2. If you have a prepaid gas or electric meter – your options are slightly better as the regulator capped prices in April 2017. This means all the big six energy firms now let many customers switch to a credit meter for free. And, if you are unable to switch, there are other cheaper deals available that can help you save.
Which documents do I need to compare energy?
To compare prices, you will either need your annual statement or at least a monthly/quarterly statement. Each year, your energy provider will send you an annual statement. Unlike your monthly or quarterly statements, an annual statement gives you an overview of your total energy use and how much you’ve spent over the course of a year, regardless of seasonal fluctuations. You will get one for electricity and a separate one for gas.
Which type of tariff is best for my business?
Firstly, there is not a one fits all tariff for business energy. If you run a small business, then just as with domestic energy, it’s possible to switch tariff or provider to slash costs. However, unlike with household energy, tariffs are generally bespoke and can vary hugely – this is where SEAL come in.
How much can you save? Depending on the size of your business, the savings can be huge. Some businesses are able to slash £1,000s off bills by switching – but, because quotes are usually bespoke, it’s impossible to quote a typical bill price. On average, small businesses spend approximately £5,100 on electricity and £4,100 on gas per year.
Also, all of the big six energy firms have now confirmed price hikes this year – so if you’re still stuck on a standard tariff, switch now and it is likely you could save more than £300 per year.
So, how do I go about comparing my business energy and changing provider today?
A 2015 investigation by the Competition and Markets Authority revealed that around 40% of businesses haven’t switched in the past five years, and 39% have never switched, so many could be massively overpaying.
There’s a myth surrounding comparing energy and switching provider. Firstly, it being time consuming. However this just isn’t the case. Don’t keep putting it off. Comparing your business energy is free and much easier than you think. Plus, you are under no obligation to go through with it if you change your mind at the last minute.
Feeling curious? Visit www.ndmenergy.co.uk now! We promise to only take up a couple minutes of your time…