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Five Tips For Reducing Energy Bills
Listed under: Interviews
Published: Thursday, May 13, 2010
Nick Heath, of Make it Cheaper, offers his expert advice on how you can reduce your energy costs this year
Many businesses are now realising there is no such thing as customer loyalty when it comes to energy suppliers, and that staying with one company from one year to the next, could result in even higher rates. With 11,000 different energy tariffs, ranging threefold in price, switching once every 12 months is the only way to ensure you get the better rates.
Here are my top tips for success:
1. Make Contact
First and foremost, it is important to call your supplier to clarify your contract status, the unit price you are paying and the date of your next renewal period. It is actually better for businesses to be in a contract than not, as the latter's rates are the highest you will ever pay. So, for example, if you have just taken over new premises, but not contacted the suppliers, you will be clocking up a massive account.
2. Shop Around
Don’t accept a new contract with your incumbent supplier until you have compared prices. If you don’t have time to call all of them, try a business price comparison service which can tell you immediately if your rates are competitive and, if not, do the legwork to find out which is the best deal for your company, based on postcode, credit score and consumption.
3. Check Dates
Once in a contract, make a note of renewal dates and what notice you need to give, as many suppliers make it difficult to switch towards the end. Each has different rules, with renewal ‘windows’ closing long before the end date. Miss your ‘window’ and you will automatically be ‘rolled over’ for a year on uncompetitive rates.
4. Serve Notice Regardless
Not everyone has the time or patience to keep track of when their contract is up for review. The best way to get around this is to send a notice letter, irrespective of how long your agreement has to run. You cannot be cut-off for doing this and, given that your current supplier knows you are switching intentions, they will be more inclined to offer you competitive rates at your renewal.
5. Sign-up For Help
For those in any doubt about their existing contracts, or simply looking for an easy solution, Make It Cheaper offers a free contract checking service that deals with suppliers on your behalf and contacts you with the best rates available when it is time to switch.
For more information, please call 0800 970 0077, or visit http://www.makeitcheaper.com.
Here are my top tips for success:
1. Make Contact
First and foremost, it is important to call your supplier to clarify your contract status, the unit price you are paying and the date of your next renewal period. It is actually better for businesses to be in a contract than not, as the latter's rates are the highest you will ever pay. So, for example, if you have just taken over new premises, but not contacted the suppliers, you will be clocking up a massive account.
2. Shop Around
Don’t accept a new contract with your incumbent supplier until you have compared prices. If you don’t have time to call all of them, try a business price comparison service which can tell you immediately if your rates are competitive and, if not, do the legwork to find out which is the best deal for your company, based on postcode, credit score and consumption.
3. Check Dates
Once in a contract, make a note of renewal dates and what notice you need to give, as many suppliers make it difficult to switch towards the end. Each has different rules, with renewal ‘windows’ closing long before the end date. Miss your ‘window’ and you will automatically be ‘rolled over’ for a year on uncompetitive rates.
4. Serve Notice Regardless
Not everyone has the time or patience to keep track of when their contract is up for review. The best way to get around this is to send a notice letter, irrespective of how long your agreement has to run. You cannot be cut-off for doing this and, given that your current supplier knows you are switching intentions, they will be more inclined to offer you competitive rates at your renewal.
5. Sign-up For Help
For those in any doubt about their existing contracts, or simply looking for an easy solution, Make It Cheaper offers a free contract checking service that deals with suppliers on your behalf and contacts you with the best rates available when it is time to switch.
For more information, please call 0800 970 0077, or visit http://www.makeitcheaper.com.
