Finding the best deal for your business energy provider is very important if you want to sustain your business. However, you might find it difficult to decide on which supplier to use. Here are the things that you must know to find the best deals for your business.
It is vital that you find the right contract to make sure that you get the best value for money. Not all contracts are suitable for all business, so you need to pay attention to it. Below, we discuss two different contract types that you might encounter.
- Fixed rate. A fixed rate contract ties the customer to one ‘fixed’ price for the entire contract duration. A certain amount is charged per kWh every month until the finalisation of the contract. This type of arrangement is often ideal for small businesses since they usually use the same amount of energy every month. By signing a fixed rate contract, companies can easily predict their energy bills.
- Variable rate. A variable or flexible rate is prone to market fluctuations and changes due to third-party charges. Compared to fixed rates, businesses will not pay the same amount of money per kWh as the charge may change depending on the rates and other charges.
This type of contract is advisable for companies that fully understand their businesses’ energy usage and how to calculate their bill. Flexible tariffs allow firms to purchase the energy that they need when they need it. A variable rate contract is riskier compared to a fixed rate, especially if you are a start-up business.
Additional energy services
You might think that the best way to find the most suitable deal for your business energy is to settle with the cheapest provider, but it is not. It is also important to look at the additional services and support that is offered by the company since these other services will benefit your business in the long run.
- Online data. Most businesses offer online services to their customers, so this is one of the additional services that you should consider. Online services allow you too conveniently check your running bill and even to make a payment online. If in case you encounter any problems, you may also get in touch with the company using their website.
- Customer satisfaction ratings and reviews. These services allow you to have a clear insight into how the company works with their clients. Also, this is one way for you to express your disappointment or satisfaction with the company’s service.
Calculating business prices
There are a lot of elements that comprise an energy deal. These dictate the prices that companies charge to their customers. Generally, business energy price is affected by the following costs:
- Wholesale energy
- Operating expenses
- Distribution cost
- Environmental contributions
will help you since they will be able to efficiently compare prices and find you the most suitable energy provider.