Niccolo Power – switching your small business to the new energy supplier
Switching your energy supplier can take time to organise, so here at Niccolo Power we’re providing you with a stress-free guide to working out your switching process.
You’ll need to double-check some information about your current contract
First check to see whether you can switch, and then compare costs from multiple suppliers, including your present one.
Many energy businesses are failing, so you won’t discover as many tariffs on a price comparison website as you might expect. It’s usually best to wait till bargains become available again if you can’t locate a better tariff than the one you’re on now.
You won’t generally require a business energy contract if you run a business from your home. Read our tips on how to change your home’s energy provider.
IMPORTANT TO NOTE:
If your energy provider goes bankrupt…
Don’t change your tariff or supplier until your account has been transferred to the new provider. If you switch before this happens, you can have a tougher time getting any money you’re entitled.
Contact the Citizens Advice consumer helpline if you’re not sure if your supplier should be treating you as a small business.
Examine your contract’s terms and how much energy you consume.
To find out if you can switch and to help you get accurate quotes from alternative suppliers, you’ll need to gather some information.
You must ascertain the following:
when your contract ends and how much notice you need to give if you want to switch – this information should be in your contract how much you’re paying per unit of gas and electricity – units of energy are measured in kWh (kilowatt hours) and the price you pay should be shown on a recent bill how much energy you use – check your bills to find out your annual usage
If you are unable to locate this information, you should contact your supplier for assistance.
Check to see if you can switch.
In most cases, you’ll be able to switch to a new business energy provider if:
You’re not locked into your contract – it’s important to check when your contract ends and how much notice you’ll need to give if you want to switch if you’re on a ‘default’ or ‘deemed’ tariff – this is a tariff you didn’t choose, such as if you’ve taken over a new premises or your old deal has expired if you’re on a ‘default’ or ‘deemed’ tariff – this is a tariff you didn
If you’re not sure, check with your supplier.
If you believe you should be able to switch but your provider refuses, contact the consumer helpline.
If you are unable to change suppliers it’s worth phoning your provider to see if you can switch to one of their lower-cost plans.
Inquire with your provider about switching to a cheaper plan
This is good to consider if you can’t switch your provider.
If you’re signing a deal, always request a written contract from vendors so you can review the terms and conditions before agreeing to anything.
In the case that you agree to a business energy contract over the phone, it is ‘binding,’ which means you don’t have to sign anything to be bound by it; here at Niccolo Power we do not believe in verbal contracts and you can read our piece on it on our Niccolo Gas website.
Call your supplier to see if they can provide you with a better bargain; they must inform you if you can switch to a lower-cost plan, but you may be required to sign a new contract.
If you’re having trouble paying your bills, see if your provider can assist you in any way, such as providing you with a smart metre so your bills are more accurate. Don’t feel obligated to agree to anything over the phone; if you’re unsure, ask for the information to be sent to you.
If you have the option to switch, you should compare their pricing to those of other providers. If you can’t switch and your current provider won’t give you a better deal, see what you can do if you’re having trouble paying your energy bills.
Check to see whether you can save money by switching to a different supplier.
It’s wise to compare contracts from as many different suppliers as possible.
To compare costs and contracts, you’ll almost always need to speak with vendors. If you don’t have much time, you might utilise a price comparison website or an energy broker to get the best offer for you.
You’ll have to explain what your company performs and how much energy it consumes. It’s worth attempting to bargain with suppliers and brokers; mention any other offers you’ve received and see if they can match them.
Making direct contact with suppliers
Find business energy suppliers with the greatest customer service by using our customer service rating table. Make a list of vendors you’d want to get estimates from.
It’s better to give them a call to see what rates and contracts they have available. Their contact information is available on their websites.
Tell them you’re interested in switching and inquire about rates and contracts. It’s worth noting that if another supplier has offered you a lower price, you might be able to negotiate a better deal. Request that they email you the complete terms and conditions of any contract they might be able to offer you.
Using price comparison websites for energy
Because company energy rates vary depending on your situation, it might be difficult to obtain stable prices online. Most business energy comparison websites will request some information before contacting you to discuss pricing.
You’ll almost always be required to provide your contact information online before speaking with someone on the phone.
Using a broker for energy
An energy broker is a person who negotiates energy contracts for businesses with suppliers.
In most cases, you’ll have to pay a broker. Check how they’ll charge you before you ask them to find you a discount. You may be required to pay a one-time charge when you sign up, or you may be required to pay as part of your energy bill while you are under contract.
If you believe a broker has deceived you or introduced fees you weren’t aware of, you can file a complaint; you may be able to terminate your contract or receive a refund.
You might be able to negotiate a better deal without the help of a broker. Call the consumer hotline and tell them what happened.
Contract comparison
When comparing the contracts you’ve been offered, be sure to look at the following:
- how much you’ll pay per unit of energy and whether the price will fluctuate if there are any other costs such as maintenance fees,
- how long the contract will run – and if you’ll have to pay a fee to cancel it before it expires, how much notice you’ll have to give to end the contract, and if there’s a ‘cooling off’ period where you can cancel or switch if you’re not happy
- most business energy suppliers don’t offer one, but it’s worth checking,
If you utilised a broker to find a deal, be sure to include in their fees when considering whether or not to sign a contract.
Switching
If you’ve made the decision to switch, you should notify your current energy provider as soon as feasible. Make sure you offer as much warning as possible; if you don’t, you may be charged a price to switch.
Tell them when you want them to stop supplying you and hand over to the new provider. After that, sign your contract with the new supplier and confirm when they will begin supplying you with energy.
On the day you switch, obtain accurate metre readings and email them to both companies so you pay the correct amount.