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Spring clean your business finances

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Your business's energy bills never seem to get smaller – do they? Well they can if you take some time to review your options for changing supplier, as Claire Osborne of uSwitchforBusiness explains.

Claire Osborne, Energy Expert, uSwitchforBusiness

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Spring tends to be that time of year when most of us will have a good clean up and clear out and it’s no different in business. With the start of the new accounting year, many of us will wonder if we’re getting the best deal on our business energy bills.

Claire Osborne Energy Expert uSwitch for Business image

Claire Osborne
uSwitchforBusiness

The Government’s energy projections suggest there will be further increases to energy prices between now and 2020¹. While the average energy bill for an SME is £4,243² a year, many are still paying much more for their energy despite better offers on the market.

Businesses consume more electricity than the average household and as a result are often in a position to negotiate better rates with suppliers. However, finding the right deal for your business energy can often be a time-consuming process.

Here’s how to find a better energy deal on your own

• 1. Get to know your energy contract – make note of your essential information:

a. Your unit rates and standing charge
b. Your annual energy consumption
c. Your meter numbers
d. Your contract end date
e. Your contract notice period

• 2. Gather quotes from alternative suppliers – unfortunately you can’t do this online so make time to contact each supplier directly.

• 3. Once you have selected a new provider and are happy with the quote, terminate your current contract.

• 4. Obtain final meter readings for your final invoice.

• 5. Switch to your new provider once your previous contract has expired.

Watch out, if you don’t manage to arrange a new deal when your current contract comes to an end, you could be rolled on to your supplier’s standard, more expensive plan.

If this all sounds like a long, laborious and time consuming process, that’s because it is!

Supplier Advice Claire Osbourne Energy Expert uSwitchforbusiness LightBulb imageWhy not speak to uSwitchforBusiness today and we can handle the whole switching process on your behalf. We’ll compare the energy market, including the Big Six and many smaller suppliers.

Our service is hassle-free; one simple phone call or click and you could be on the road to saving up to £1,150 a year on your energy bills, leaving you time to focus on the important things like running your business.

References

¹Source: SME Guide to Energy Efficiency – Department of Energy & Climate Change – 2015
²Source: FSB.org.uk columnist, December 2015
³Source: uSwitchforBusiness.com, figure based on 6,000 actual contracts arranged in 2016 when compared to prices or renewal quotes of existing suppliers

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