Energy brokers get a lot of stick, it’s true.
Recently there has been a lot of coverage of ‘dodgy brokers’ who rely on unscrupulous means to part customers with their cash. If you haven’t heard anything about this subject, it is definitely worth looking into.
But this does not mean that all brokers act this way – far from it. This is a small minority of businesses within a huge and incredibly important industry.
We know how important our brokers are to us. They contribute massively to our operations and we simply cannot do without them. Hopefully, by the end of this article, you’ll see why.
The Basics of Brokers
Brokers act as a middleman between energy suppliers and potential customers. But they aren’t just salesmen acting on behalf of suppliers to push their newest promotions.
They are energy experts within their own rights.
Having trained energy professionals acting as the first port of call for customers allows them to explain the ins and outs of the very best energy deals far better than any internet advertisement.
The Benefits of Brokers
The benefits to your business from working with brokers are massive. The best news? The benefits aren’t just limited to sales and revenue, there are some lesser-known intangible benefits to reap also.
- Brokers get better prices: Brokers create a situation where suppliers are forced to compete for your custom, when this happens? You save money by getting the best possible deal.
Suppliers sometimes pass on lower prices to brokers than you’ll find shopping yourself. This is because they are aware of competitive the market has become due to brokers.
In some cases, brokers are able to manufacture better rates for their customers by lumping them together. This redistributes more power towards the customers, and suppliers drop their prices even further still to grab so much custom.
- Brokers are energy experts: We have already mentioned this a little – but feel like it’s worthwhile going into in a little more depth.
So many businesses will outsource areas of their operations to improve their operational efficiency. You would think that due to the incredibly large proportion of annual costs made up from utility bills, that there would be a specialised department for reducing them?
This is exactly the service that brokers can offer to customers. Instead of wasting money on an in-house energy market expert, businesses can partner with brokers for a fraction of the cost.
- Brokers provide direction: If you’re working with the best brokers (which we are) then they will offer a little extra human understanding to their services.
These brokers will take the time to understand the nature of your business operation, the requirements you have, the future goals of the business, and how to get you there. Brokers will formulate an energy procurement and management strategy to meet your needs, even including risk management considerations if necessary. Brokers aren’t just all about the cheapest deals, they use their extensive market knowledge and experience to save you time, money, and resources by:
- Compiling data to approach the supply market
- Searching for the most suitable energy contract for your business
- Guiding your business as to the market forces and drivers in the wholesale market, and when to take advantage.
- Negotiating on the customer’s behalf – gaining better prices and improved clarity on small-print
- Offering recommendations
- Obtaining credit clearance
- Setting up and even managing multi-site contracts
- Brokers can handle the complex: Competition breeds diversity. Which is an incredible thing for customers if they know how to navigate through incredibly complex jargon.
Again, brokers offer this service. There are so many different types of energy contracts out there these days, and it really does take an expert to understand it all. Brokers are able to understand it all, walk you through it, and then work together to secure the best contract for your business.
Depending on the contract you settle on, they may have even more value to offer. As the wholesale market constantly rises and falls there is scope to exploit every trough and peak. Meaning?
You save even more money.
- Brokers are organisational geniuses: It is a thankless job to handle contract management for utilities – so brokers often handle this for your business too.
By validating all of your bills, you’ll spot when and where you’re being overcharged. When this happens, brokers will step in to resolve the issue on your behalf.
Three Advantages of Working with Brokers
We know that the previous section was an awful lot to take in, so we have condensed down the benefits of working with brokers to the most stomach-able size possible:
Energy bills are responsible for vast sums of expenditure from UK businesses – brokers help to reduce them.
Get access to expert level of energy industry knowledge, with no studying necessary.
- Less time-consuming
Energy brokers handle the day-to-day of everything energy, so you don’t have to.
What do suppliers think about brokers?
It is almost universally positive. To put it eloquently – ‘everybody wins’.
Although suppliers may not be too happy during cases where they come up against a trained industry professional during a dispute, this is balanced out aplenty by the benefits. Brokers provide a vector to carry news of the best deals suppliers can offer, taking it directly to customers who are looking to procure a new contract.
Efficiency benefits are reaped on both sides of the aisle – it is not just for business customers. Suppliers love dealing with brokers as often all of the information needed to move forward is already gathered and good to go.
Partnerships with Niccolo Gas
At Niccolo Gas, we are always looking for more outstanding brokers to partner with.
We care about our brokers, especially those who share some of our core values and beliefs. We are committed to providing the best possible customer service and want brokers who believe in this vision too.
If you are interested in working with us, have a read through our broker page here:
We look forward to hearing from you!