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Energy is an essential part of your business – electricity for lighting and machinery, gas for heating and cooking. Switching to a better deal with a new supplier is a quick and easy way for your start-up to save money. And don’t worry, even if you are operating from a domestic residence, you may still be eligible for cheap business energy rates.
It’s incredibly easy to switch your business energy supplier. Once you have identified your new energy provider and negotiated a deal, they will work behind the scenes to ensure a smooth, stress-free transition. Similar to household energy, there will be no disruption when you switch your business electricity and gas supply.
For your new supplier to be able to offer you the best deal and put the switch into action, you will need to provide some details. Grab a copy of your most recent bill and note down the following information:
When moving your business to a new location, the best-case scenario is that your current energy contract is already within its renewal window. Renewal windows can start anywhere from 30 days to 4 months before your contract ends. If you aren’t within your renewal window, switching is slightly more complicated. But don’t worry, ByteStart can help.
Before you move out:
Firstly, make sure you know the terms and conditions of your tariff. Unless you’re on a flexible contract, you will most likely be required to pay a fee to end your contract early. This can be expensive, so it’s worth considering transferring your current energy tariff to your new location. This doesn’t mean you’ll get the same unit cost and standing charge, just that you may avoid paying expensive early-termination fees. In some cases, you may not be able to get out of your contract at all, so make sure you read all the terms and conditions before signing up. This is especially important as business energy contracts don’t have a cooling-off period – once you’ve signed up, you’re locked in.
If you still want to switch your business gas and electricity, we recommend you compare business energy prices and then add in any termination fees to the costing. This will make it clear whether switching your business energy supplier is beneficial. If you have only a few months remaining on your current tariff, it may be more cost-effective to wait for your renewal window before making the switch.
Before moving into your new premises:
When moving into new business premises, the previous energy supplier will charge any energy usage at that location on a deemed rate tariff. Save money by being proactive and arranging your new contract before your business moves.
As mentioned, business energy tariffs come with what is called a renewal window. This is because energy companies buy business energy in bulk, rather than on a ‘pay-as-you-go’ basis. And as a business owner, you’ll know it’s customers who are expected to front the bill for any losses. Unfortunately, it’s no different with energy. So, the best time to switch business energy supply is within your renewal window. This will start anywhere from 30 days to 4 months before the end of your contract.
Provided that you have supplied your new business energy provider with the correct information and your current provider agrees to the switch, your business energy supply should take no more than four weeks to change.
Occasionally, your current supplier may put a block on the switch. This will be because you are either not in your renewal window, haven’t agreed a termination fee, or have an outstanding balance. It’s worth checking this information before contacting a new business energy provider.
In the meantime, run a price comparison and make sure your business is getting the best deal possible. Call our team now for help on switching to the best business energy deal.
You tell us about your business and the energy contract – or contracts – you are interested in switching.
Our saving experts search live information and tell you about your contract options using plain English.
When you’ve decided what you want to do, we’ll set up your new contract and leave you to get back to running your business. Easy.