Business Energy – Ways to Lower Your Overheads – Part 1 of 3
Any business, be it small or large, has to ensure that their overheads are as low as possible. And when it comes to electricity and gas bills this is very often one area where paying over the odds is often overlooked.
A massive 39 per cent of small businesses state that cutting down on overheads is a vital part of increasing profits. However, not paying sufficient notice of spiraling energy bills is one area that many businesses fail to realise that they could make substantial savings.
It’s crucial that a company takes note of their business energy charges, however many fail to compare energy supplier prices when their contract is up for renewal, and an incredible 30 per cent simply allow their energy supplier to roll over year after year. A simple energy supplier switch to the cheapest option could save up to £1,500 per year.
The following details easy ways in which a business can drive their energy costs down, so saving hundreds or even thousands of pounds per year.
#1 – When Does The Contract End?
Gas and electricity companies are very clever, because when you sign up for a contract they’ll state the end date on the initial letter, but it doesn’t appear anywhere on the bill. And who, in all honesty, checks that initial correspondence once the contract is set up?
But rather than falling prey to the clever tricks played by business energy providers, note the end date on the calendar and ensure you begin searching for a new competitive deal well before this.
#2 – Buyer Beware!
When looking for a new business energy supplier, or choosing to stay with the same one, be sure that the contract is one that you’ll be happy to stick with for the duration. Making a mistake and then attempting to leave a provider before the end of the contract will prove to be a costly mistake.
#3 – Begin The Search On Receipt Of A Renewal Letter
One clever ploy gas and electricity companies have is to send out a renewal letter well before the end of the contract. However, unless you actually act on this and terminate the contract in writing, then it will automatically roll over and the business will be tied into a new annual contract. They are hoping that you don’t take the time to compare business electricity rates and will simply continue with their contract.
And whilst this might be the best deal available, there’s a very large chance that it’s not. Begin shopping around at this point, giving your business plenty of time to find that deal with another supplier that’s very likely to save the company hundreds of pounds. Making a switch to your energy supplier, or taking the time to compare energy suppliers is definitely an action that’s worth spending some effort on, as the savings can be substantial.
See our other articles on this subject for more tip on how to ensure the cheapest business electricity rates…