How to Keep Paying the Cheapest Business Electricity Rates
If you are happy with the rates you are paying for business electricity right now, you probably understand that it won’t last forever. You may have just lucked out by finding a cheap supplier who is giving you what your business needs at a good rate. You understand that there are lots suppliers out there with a variety of different rates, and many of them are much higher than what you are paying right now. You may even understand that once your current contract ends that you will pay more than you do now for your electricity.
You don’t have to accept those higher rates, though. Simply because your contract has expired, that doesn’t mean that you must pay new, higher rates and that you are out of options. You do have some choices to make, and you can make the ones that will lead you to better rates than you expected. The cheapest business electricity rates for UK businesses are going to give you the most profits and cut your expenses as much as possible, but it may take some work to find them.
Your current rates won’t last forever, and when your contract gets close to expiring, you need to look at some other options. You can look at other suppliers at any time and get a feel for what ones have the best rates, but within a month or two of your contract expiring, you need to have one picked out. Not only that, but you should also be communicating with both the new supplier and your current supplier to ensure that they are on the same page and that they know when your contract ends.
If you ensure that they are both informed, you can make certain that you don’t have any interruptions of service to deal with. Everything can go smoothly in the transfer over to the new supplier and you will be able to enjoy the cheapest business electricity rates the UK has to offer.
Of course, finding the new supplier and the cheapest rates can be tricky. Here is our suggestion.
Use Price Comparison Sites
You might not be aware of the entire industry out there that exists for comparing prices in the business electricity sector. These comparison sites don’t charge you seek out and compare rates for you. They don’t even require you to sign up for their sponsored choices. You can simply visit the site, find out what rates are on offer and then go to the website for the supplier you picked out and speak to them directly about their contracts and rates.
The comparison sites should not be taken as completely accurate when it comes to rates. They may not be figuring your per-unit charges and standing charges the same way the supplier would. The cheapest business electricity rates for UK businesses may be apparent there, and you can easily sort through who has the lowest and highest prices but to give you precise rates from each supplier may be beyond the capabilities of the price comparison sites. They have to provide estimates, which may be very close to the actual price, but you should count on getting a slightly different rate when you talk to the supplier.
The comparison sites are great for weeding out the higher-priced options and narrowing down your list of choices to the ones that offer the best prices. From there, however, you need to contact individual suppliers and find out what their rates are.
Keep Up with Your Contract
You also need to know what your contract stipulates as far as rate changes and renewal. It’s quite possible that your contract will automatically renew if you don’t ask specifically that it be canceled. You can check your contract for yourself or call your supplier to find out. The contract won’t be renewed with the same rates, whoever if it is auto-renewed. Instead, it will be renewed with a higher rate, which can be as much as twice what you were paying before. If you don’t talk to your supplier and either cancel your contract or renegotiate the upcoming contract renewal, then you are at their mercy and you are required to pay whatever they stipulate.
So, be sure you know what your contract terms entail and do what you can to keep getting the best prices possible for your business.