Just as with domestic energy, if you run a small business, it is possible to switch provider or tariff in order to slash the costs. However unlike with the household energy, generally, the tariffs are bespoke and can hugely vary as it is all about negotiating the best possible deal.
Depending on your business size, the savings can be big. Some businesses are able to save £1,000s off in their bills by switching, but because the quotes are bespoke, it is impossible to quote the typical prices of bill. To compare the prices, always have a breakdown of the unit rate as well as the standing charges – this will make it very easy to compare what you are being offered. Unfortunately, in order to find the best savings, you need to put in the legwork, which include the following:
- Benchmark a price online – there are many comparison sites which will let you do a business energy comparison but will only provide you an indicative quote. Inspired-Quotes, will get you the actual price quotation.
- Hit the phone – some brokers check the prices across various providers, and it is worth trying a couple, as they cover many different suppliers that are willing to undercut offers to win your attention.
- Try to haggle – the keystone in order to get a better price is to always haggle on phone – it is really a case of who dares wins.
It’s also worth noting that some of the providers only supply some types of businesses, and always keep in mind brokers and some comparison sites prioritise the offers they give you according to who pays them well.
If you are wondering if you can possibly get a fixed tariff, the answer is yes. As a matter of fact, it’s already a norm. Normally, you can get one, two, or three-year fix, but it still varies between suppliers. Generally, the longer fixed terms are much more expensive, but can protect your from any future price rises. Some of the suppliers also provide variable rates, which are pricier, but aren’t as common as they are with the domestic energy tariffs.