Switching from one business gas supplier to another is all about proper timing. Compared with residential consumers, companies transferring their tariff to a new provider is slightly more complicated. The new provider typically requests the company to provide additional information such as the size of the business, the average energy usage, and the type of contract with the existing supplier as well as its duration. Keep in mind that before you can switch to a new supplier, the deal with the current supplier must be extinguished accordingly.
The importance of renewal dates
Before you compare business gas prices from different providers, you’ll need to know when your current contract is due for renewal. There is also a corresponding switching window in your contract which you need to be aware of. When the switching window lapses, you won’t be able to switch to a new supplier until the next renewal period. Unfortunately, if you miss out on the chance to change, your current supplier may automatically transfer your tariff to a higher rate for the next 12 months.
Larger companies need to pay close attention to the switching window because suppliers won’t send out a notification of its expiration. The only exception to this rule is if you are operating a micro-business. If your company qualifies as a micro-business, your current energy supplier is mandated to notify you at least 30 days beforehand that your contract is about to expire. In addition to the notification, your supplier must provide information about your average yearly consumption as well as current prices as opposed to what you are paying at least 60 days before your contract is supposed to end.
What to look for when comparing energy prices
Upon determining your eligibility to switch business gas suppliers, the next step in the process is to look for better deals. Comparison websites are convenient access points because you can get a comparison on business energy and gas prices as well as get quotes from suppliers. When comparing rates, look out for the following:
- Unit price. The unit price of energy is the per kWh cost you pay.
- Standing charge. Businesses need to pay a standing charge which is a fixed amount regardless of how much your company consumes or whether or not the business is open. The range of standing charges from suppliers varies and often depends on how big or small the business is. Companies also pay a different standing charge each for electricity and gas.
Both of these factors will significantly impact your comparison of which energy tariff to choose.
Getting an energy quote
Aside from using a comparison site, you can also compare tariffs through a broker. These brokers also act as consultants and will do much of the work required for your company to switch to a new provider. One of the advantages of working with a broker is the opportunity to find excellent deals from smaller energy suppliers. Regardless of if you want to use an online comparison site or work with a broker, what’s essential is that you end up with a plan that best suits the needs of your company.