How to switch business energy

Buying business energy isn’t the same as buying it for your home and the main difference is that households can choose from a range of pre-determined tariffs from suppliers – such as dual fuel, fixed, or green tariffs. Commercial energy deals on the other hand, are tailored to meet the exact needs of individual businesses, taking into account factors such as size, location and the type of industry they’re in. Other differences between commercial and domestic energy deals include:

• Cooling off periods – unlike domestic deals, business energy deals don’t come with a 14-day cooling off period, so you need to be confident that the plan you have in place represents value for money.
• Contract length – business energy deals generally last longer – up to five years with some fixed term contracts, whereas domestic contracts usually last between one and two years. If you don’t have a contract in place (either as a domestic or business user) you’re likely to pay a lot more for your energy compared to those that do.
• Ability to exit your contract – not only can domestic energy users cancel a contract within the cooling off period, they can technically leave at any time – subject to any conditions and payment of cancellation fees. Business energy users can’t cancel contracts and have to stay with their supplier until the agreement reaches its end date.
• Fixed rates – business energy tariffs are usually fixed for the length of the contract. Domestic energy prices can vary (unless bill payers have agreed a fixed tariff) depending on the wholesale price, supplier costs and tariff type.
• Flexibility – commercial energy deals are more flexible in the sense that they’re based on use and business owners can often agree mutually beneficial deals. Domestic users on the other hand, are limited to the energy tariffs available on the market.

Why switch business energy?

Switching energy deal at the end of your current contract is the simplest way to ensure you get the best price for your business energy. If you don’t renew or switch you’ll find yourself on a pricy ‘out of contract’ tariff – which you could end up being locked into for up to 12-months. One type of out of contract tariff, is ‘deemed rates’ – you can find yourself on this if you’ve just moved business premises and haven’t yet agreed a deal with a supplier. Another out of contract plan is the ’28-day tariff’ which you may be on if you’ve never switched supplier since as far back as the 1990s when the energy market was deregulated.

All out of contract tariffs are very expensive as suppliers are under no obligation to give you their best price without a plan in place – so switching really does mean saving.

Switching your business energy supplier is pretty straightforward and you can do it in just a few simple steps: - Find quotes by contacting different suppliers (we recommend at least ten to make sure you’re getting the best deal) - Pick the quote that you think fits your needs best - Contact the supplier and apply for the deal - Tell your old supplier you’re switching - Sit back and wait for the switch to happen Finding quotes is often the most time-consuming part of switching but using a broker like uSwitchforBusiness to search for deals on your behalf can cut the time it takes to switch and save. If you can, it’s always best to have your most recent bill to hand as all the information you need to switch will be on there, such as: - Your MPAN (metering point administration number, for electricity) and MPRN (meter point reference number, for gas) these numbers help suppliers locate your supply. - Your energy consumption and how much you currently pay - When your switching window opens and your contract end date

How long does it take to switch energy provider?Business energy switching can take up to six weeks – longer if your new provider needs to clarify any details with you or if you’re waiting for your switching window to open. To minimise delays it’s best to keep recent bills to hand and give your new supplier as much information as you can upfront.

If you’ve just moved business premises and don’t know who supplies your energy you can call Xoserve for gas queries on #CAMPAIGNBUSINESSSERVICENUMBER#. To find out your electricity supplier visit the Energy Networks Association for a list of contact numbers.

By switching energy supplier, you can help your business make substantial savings – especially if you’ve never switched before. If you want more information contact our energy experts on #CAMPAIGNBUSINESSSERVICENUMBER# for help and advice.

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