Your Guide to Choosing the Best Business Electricity Provider

Choosing a business electricity provider is an important decision. For most of the United Kingdom, electricity keeps the lights on and powers millions of machines and products that make business happen. If you are seeking a new energy tariff or just feeling out your options, here are ten things to consider when finding your perfect provider. So, let’s dive in and find out more!

Competitive Pricing and Transparent Costs

Begin your search by comparing rates offered by different business electricity providers. One of the easiest ways to do this is through online comparison tools. This can help you understand the current market without spending hours on the phone or sending individual email requests for quotes. It can also help you avoid undue sales pressure when you are in the earliest stages of considering services.

Watch out for unclear or complicated pricing structures. These are red flags, as any good electricity provider should offer clear, easy-to-read pricing information with no hidden fees.

Contract Flexibility

Next, consider contract length. Most providers in the United Kingdom offer contracts for one, two, or three years, but there are many variations on these lengths from one company to the next.

It is important to remember that the stability offered by longer contracts is great for some businesses but not appropriate for others. Evaluate not only the flexibility and stability of contracts offered but also your business’s unique needs and goals. Also, investigate renewal information, as many providers renew contracts at higher rates unless otherwise negotiated.

Customer Service

Any company yours partners with should offer a robust customer service solution. One of the biggest things to look for is 24/7 support, since many businesses operate outside standard business hours. This kind of support can help you ensure success, no matter what time you open and close.

Energy Efficiency and Sustainability

For many modern businesses, energy efficiency and eco-friendliness are important. Finding a company that offers renewable and sustainable energy options can help you meet these goals, as well as reduce your company’s carbon footprint.

Some government and private organizations offer incentives to choose green energy tariffs. If you are interested in choosing green energy for your business electricity needs, be sure to seek these programs out, as they can help offset the investment these tariffs may require upfront.

Reliability and Supply Stability

A power supplier’s track record in both ideal conditions and difficult ones should be considered when you are shopping. Consider what would happen if your home’s electricity went out. Now scale that up and consider the possibility of your business electricity failing – and what that might mean to your company and its customers. Always prioritize companies that have a solid contingency plan in place for electrical emergencies and keep the power on when things go wrong.

Additional Services

Getting a little extra for the money you pay is always a nice feeling – and that definitely includes the investments your business makes. Look for energy providers who offer additional services or benefits to sweeten the deal. These may include energy audits to determine usage requirements and find blind spots or smart meters that make surveying energy usage easier and more accurate than ever.

Regulatory Compliance

Regulatory compliance is just as important for your business’s suppliers as it is for your company. Be sure that any energy provider you partner with is registered with Ofgem, the UK’s energy industry regulator. This ensures regulatory compliance and can help you feel good about the company you choose.

Financial Stability

While it might not be something most business owners think of immediately, the financial health of any potential provider should be a top consideration. As a business owner, you know that your customers feel most at ease if they know your company is on solid financial footing and unlikely to go under in the near future.

You should seek the same security in any company you invest your business’s money with. A financially stable provider means a higher likelihood that they will continue to be there to offer support and excellent services well into the future. (Remember also that if your provider is part of a larger group of companies to assess the financial well-being of the parent company, too.)

Tailored Solutions

Every business wants to feel like the suppliers it works with have its unique interests and goals in mind. Ensure this by choosing a provider that offers the kind of custom solutions your company needs. This might mean customized energy tariffs, discounts, flexible payment plans, or other services designed to tailor their product to your company’s needs.

Also, seek out scalability in your business electricity providers. While you hope your business will grow over time– and need solutions that can grow along with you – there is no way to know what the future holds. Whether upsizing, downsizing, or remaining consistent, you need an energy company that can keep pace and adapt as necessary.

Switching Support

Lastly, look for a provider that makes switching to their products or services easy. A seamless switching process and incentives for switching means less headache and more reward for everyone involved.