How to Find a Cheaper Business Electricity Supplier
Those business owners who have become unhappy with their current business electricity supplier may not realize the wealth of other choices they have available to them. They may feel trapped in a contract or just feel like there are no great rates to be had for business electricity, but we would like to show them how to enjoy lower rates and how to find a cheaper business electricity supplier.
Compare Your Supplier to Others
How do you know if the current rate you are paying for business electricity is a good one? The only way to really find out is to get other rates from other suppliers and compare them. You can do that one of two ways. You can either ask each supplier individually what their rates are (which can take a while) or you can use a price comparison website to do a lot of the at work for you.
We heartily recommend the price comparison website route, as that will provide you with a lot of information in a short amount of time and with minimum effort. The sites are free to use and carry no obligation with them. You just enter some information pertaining to your business into the required fields and start a search. In a matter of minutes, you will receive results back that lists the rates for a few different providers. This can be as few as three providers or up to a dozen. It depends on the price comparison site and their capabilities as well as how many providers are actually offering their services to your particular kind of business.
Keep in mind that the size of your business and where it is located will not only limit your options but will also determine how much you pay. Smaller businesses tend to pay less per unit of energy, and those that are far away from the supplier tend to pay more for the standing charge.
Comparing prices, whether you use a price comparison website or not, is your best way to find out who your current rates stack up to what else is out there. Only by doing the research will you know for sure where your current rates stand.
Looking at the other rates available may prompt you to reconsider your current supplier and start looking for an opportunity to cancel your contract or change suppliers as soon as your current contract is ended. We recommend the latter option, as it comes with fewer headaches and hassle for you. It’s also going to cost you less, as there are going to be fees involved with skipping out on your current contract.
Making the Switch
If you decide that some other provider is the cheaper business electricity supplier and you need to drop your current supplier, then there is some preparatory work you need to do before switching. It really is best if you let your current contract run out, but don’t wait until the last moment to make a move to switch providers. In the month or two leading up to the end of your contract, you should be contacting the new supplier you want to sign up with. Tell them what you are planning to do and that you want to switch to their service. Also, ask them about their rates to ensure you have accurate information. The price comparison sites are usually pretty accurate, but there are some exceptions, and you need to be as sure as you can about the prices you have your heart set on paying.
Then, once the new supplier has agreed to take you on and discussed rates and terms with you that are agreeable to you, then you need to contact your current supplier. Tell them that you are canceling your contract when it expires and that you do not want to have your contract renewed. This will cancel any auto-renewal they may have set up that can sign you up for a new contract with very different terms from that you are already experiencing.
Once both suppliers know about the agreed upon end date of your current contract, then you can just sit back and enjoy the transition as it occurs. You don’t have to do anything else, and the suppliers will transition your electricity service for you to the cheaper business electricity supplier without interruption in your power flow. Your business does not have to suffer at all during this period if you have taken the proper steps to transition.