7 Reasons Your Small Business Should Use an Energy Broker
Small businesses can get stiffed in the business energy market. A broker will help fight your corner and find you the best deal. But there are lots of other advantages of using a broker as well. Here are seven reasons you should consider a broker next time you switch.
Switch for success
Just like with domestic energy, regularly switching suppliers is one of the best ways to save money. And going with a broker is the easiest way to do it. A survey from Ofgem found that of the 67% of small business owners that switched their tariff or supplier last year used a broker. And 42% said that the broker was their main source of influence.
Boost your bottom line
Ofgem research shows that small businesses paid around 35% more for their electricity in the first quarter of 2018 compared with larger firms. Brokers can help you shop around the market and negotiate better prices with the suppliers. If energy costs make up a high proportion of your business expenditure, then reducing these costs can significantly boost your bottom line.
Save yourself time
Most small business owners can do without the hassle of researching and collecting quotes from the full list of energy suppliers. Business energy quotes are quite detailed, so comparison sites don’t work very well. Utility Helpline compares 70 tariffs from more than 20 suppliers for you, without you lifting a finger.
Get the right contract
The world of business energy buying can be complicated. Particularly all the different contract types and terms. Most small and medium sized businesses will need a fixed-price contract which locks in a fixed unit rate for up to five years. An energy broker can give you information about different suppliers and advise you how long to lock your contract price in for.
Reduce your energy consumption
As well as finding you the cheapest energy deal, business energy brokers provide a range of additional services designed to help companies reduce energy consumption. Consultancy services including smart metering, auditing and reporting can inform leaders how energy is being used, save money and help reduce a company’s carbon footprint.
Get a better service
Ofgem’s survey revealed that only 17% of smaller firms would recommend their energy company to others. Businesses that used a broker were around 63% satisfied with the service. You can get a sense of a broker’s quality by checking online reviews for the broker. Utility Helpline has a five-star service record on Feefo.
Avoid rollover contracts
If a business doesn’t tell their supplier that they wish to end a contract before a certain point, the supplier may roll them over onto a new energy contract. For the smallest businesses, suppliers may only roll a contract over for a maximum of one year, but this contract will probably be expensive. An energy broker will work with you throughout the length of your contract and will get in touch when it is time to renew.
Find Your Cheap Energy Deal
Find out how a business energy broker can save you money on your energy bill.Get a Quote
Published by Utility Helpline on (modified )
Wholesale Energy Prices Update 18/10/2019
Wholesale Energy Prices Update 11/10/2019
Wholesale Energy Prices Update 27/09/2019
Wholesale Energy Prices Update 20/09/2019
Wholesale Energy Prices Update 13/09/2019