Not everyone realizes that there is a very competitive market out there for business electricity rates. The many suppliers go back and forth trying to beat out their competition and offer lower rates or better contracts to businesses. There is a huge potential there for you to save money and get some great rates on business electricity, but you have to know where to start looking.
You could go from one business electricity supplier to the next and ask what their rates are, but that’s a long and involved process, and there are better ways to go about it. Your best bet is to use a business electricity comparison website, of which there are quite a few. These sites give you access to quotes from companies that offer business electricity in your area to companies like yours.
You have to understand that the size of your business and where it is located not only determines the kind of rates you are subject to but also whether an electricity supplier will even provide their services to you. Some of them serve only businesses in their local area, and using a business electricity comparison site will narrow down the list of possibilities to a manageable level and help you more quickly find great rates.
How to Search
We have already told you that comparison sites are the best way to go to find low rates from business electricity suppliers, but you may not realize that some of these are broker services. What that can mean is that they work for some of the electricity suppliers. That often results in them getting a commission on sales for a particular supplier. You may end up paying more in those cases for your electricity.
If you believe that a comparison site is a broker (which should be stated on the site’s main page somewhere, perhaps at the bottom in fine print), then it’s a good idea to get a second price from someone else from that same supplier. It’s possible you would be charged more for going through a broker service, but that’s not always the case.
It’s always a good idea to use multiple comparison sites so that you know you are getting an honest answer. That’s still quicker than going from one supplier to the next asking for rates. Once you have seen what some of the rates are, then you can narrow down the list of possible electricity suppliers and have a good idea of which companies to pursue further and get specific quotes from. Using comparison sites saves you a lot of work and helps you identify which companies offer the best rates and supply power to where you are.
Knowing the Contracts
There is more to getting a great price on business electricity than just searching for the lowest rates. You also have to consider the contracts. There are a few different kinds of contracts, but they are all fixed contracts. That means that they used fixed prices over a fixed period of time. You are essentially guaranteed to be able to pay the same price for the length of the contract. Once that contract is up, then the rates you pay are subject to change. You can try for a new contract at that point, but you aren’t likely to get the same terms as before.
You should try to find an agreeable contract up front, one that doesn’t lock you in for too long, unless the rates are really good. If you find absolutely amazing rates, then you should try for an extended contract, but always know that you can get a different contract from another supplier at any time if you so choose.
Canceling your contract can be a hassle, and you may run into some fees or other difficulties which make it a hassle for you, but it can be worth it to enjoy lower rates. Just be sure to cancel your current contract first and then make certain that you actually sign a contract for the new rates with the new supplier. You don’t want to end up off contract and being subject to rates that can change at any time. Take your time in choosing the right business electricity suppliers and then you can reap the benefits of great rates and a trustworthy supplier.
Business electricity comparison sites will help you do that, but you have to delve deeper into what the suppliers are actually offering and ensure that you are getting a deal that’s beneficial to you.