A Guide to Utility Bills for First-Time Business Owners and First Time Buyers

As a first-time business owner, you may find that managing electricity and gas in your business can be a complex and time-consuming task. However, with the right knowledge and expertise, you can ensure that your business runs efficiently and economically. In this guide, we’ll cover everything you need to know about gas and electricity in your business, including who to contact, what to consider when choosing a supplier, and how to reduce your energy bills.

Choosing a Gas and Electricity Supplier

When it comes to managing gas and electricity in your business, it can be helpful to start by contacting your local utility provider. Your local utility provider should be able to provide you with all the information you need about gas and electricity in your area, as well as advice on choosing the best supplier for your business.

When choosing a gas and electricity supplier for a business, it is important to consider a variety of factors such as cost, contract terms, and customer service. It is also important to consider the types of rates and plans that are available.

There are several types of rates and plans to choose from, including:

• Fixed rate plans: These plans offer a set rate for a specific period of time, typically 1-3 years. This can provide budget certainty, but if the market rate drops, the business will not see the savings.
• Variable rate plans: These plans offer rates that fluctuate with the market. This can be beneficial if the market rate drops, but it can also be risky if the market rate increases.
• Time-of-use plans: These plans offer different rates depending on the time of day or season. This can be beneficial for businesses that have flexible energy usage patterns.
• Green energy plans: These plans offer energy generated from renewable sources such as solar or wind power. This can be beneficial for businesses that want to reduce their carbon footprint.

It is also important to compare different suppliers and their offerings, to make the best decision for your business.

What is the best way to compare gas and electricity suppliers as a first time buyer?

When it comes to gas and electricity, there are many different providers to choose from. It’s important to do your research and compare the rates and services of different suppliers to find the best deal for your business.

When comparing suppliers, it is important to consider the following:

1. Price: Compare the cost of gas and electricity from different suppliers. Look for special promotions and discounts to get the best deal.
2. Contracts: Consider the type of contracts offered by each supplier. A fixed-term contract may offer more stability, while a variable-term contract may be more cost-effective.
3. Service: Check the customer service offered by each supplier. Determine if there are any additional services that may be beneficial for your business, such as energy audits or energy efficiency advice.
4. Energy Efficiency: Consider the energy efficiency of each supplier. By choosing a supplier that is more energy efficient, you can reduce your energy costs.
5. Payment Plans: Compare the payment plans offered by each supplier. Consider the cost of paying monthly or annually, as well as any setup or connection fees.

By considering these factors, you can ensure you get the best deal for your business. You can compare gas and electricity suppliers online, or contact the suppliers directly to compare their offers.

How to Set Up Your Gas and Electricity Supply

As soon as you move in, take the time to locate your energy meters and take readings. These readings should then be submitted to your energy supplier to ensure that you are only billed for the energy you have actually used.

Make sure to familiarize yourself with the location of your fuse box and trip switch, as these will be vital in case of a power outage. A trip switch is a safety feature that will automatically cut power in the event of a problem, and can easily be reset by flipping the switch back on. The fuse box is usually located near the electricity meter.

It is also important to find and note down your Meter Point Administration Number (MPAN) for electricity and Meter Point Reference Number (MPRN) for gas. These numbers, which can be found on your energy bill, are unique to your home and are used to identify your energy supply. The MPAN is 21 digits long and the MPRN is between 6-10 digits long.

Setting up Your Billing

When setting up your account with a new energy supplier, you will typically have the option to choose how you want to be billed. The most common billing options include:

1. Monthly billing: This is the most common billing option, where you receive a bill each month for the energy you have used during that month.
2. Quarterly billing: With this option, you receive a bill every three months, which covers the energy you have used over the previous three months.
3. Pay-as-you-go billing: This is an option for customers who have a prepaid meter. Instead of receiving a bill, you simply add credit to your meter as needed.
4. Direct Debit: With this option, you authorize the supplier to automatically debit a specified amount from your bank account on a regular basis, typically monthly or quarterly, to pay your energy bill.

It’s important to note that some suppliers may not offer all billing options and that you should also double check the terms of the contract and the supplier’s terms and conditions before signing up.