Mistakes to avoid while choosing a business energy supplier
If you run a small business, you’ll probably know how important it is to get the best deal for your business energy supplier. The problem is that many different suppliers can compete for your business, and it can be difficult to work out which one gives you the best value for money. However, despite the difficulty in choosing the right supplier for your needs, there are things that you can do to ensure that you get a good deal:
Not knowing your business energy usage
The first mistake to avoid is not knowing your business’s energy usage. This is a crucial piece of information because it will help you determine how much money you need to spend on electricity and natural gas each year and how much of each commodity your company needs to consume to keep its operations running smoothly.
Without knowing these things, there’s no way for you to make an informed decision about which supplier would best suit your needs—and without this knowledge, you could potentially end up spending more than you need (or less).
Failing to understand the details of a contract fully
A contract is a legal agreement you enter with your utility provider. It’s important to read the small print and understand what you’re signing up for.
Contracts can be long and complicated, but it’s worthwhile taking time to read through them because there are details that could have an impact on your finances. If a supplier offers you a deal, ask them questions before signing up—this will help ensure that the service meets your needs and expectations.
Some contracts include terms about how much energy prices can change over time (like fixed rates), while others let prices fluctuate or even increase year by year (variable rates). The more you understand about the contract, the better off you will be when making decisions in future years.
Not asking for payback on early termination fees
Early termination fees can be a big hassle, but it’s not too late to get your money back if you’re planning on changing suppliers or cancelling your contract early.
Most business energy comparison companies offer payback schemes for customers who opt out of their contract before it expires. That means that even if you’re only a few days into your two-year agreement and decide that the service isn’t for you, you could still receive compensation from them.
Assuming that one supplier is as good as another
When it comes to choosing an energy supplier, a common mistake is assuming that all suppliers are the same. While it’s true that no two companies are exactly alike, there are definitely some big differences in how they perform and what they offer. Some suppliers will have lower prices than others; some will have better customer service than others; some will offer more attractive deals than others.
Choosing an energy supplier is a big decision and can be confusing. It’s important to do your research before making a decision so that you are confident in the choice you make. Make sure you compare all the options and think about what’s important to you when it comes to your energy bills.