Switching your business tariff is not that different from switching your tariff at home. They both work on similar principle: you are either on a fixed contract or a rolling contract, paying a certain amount for your gas and electricity, both of which can be switched to a cheaper rate by changing who supplies you. Both home and business energy customers are permitted to switch their energy tariffs as many times as they please; however, the switching rates are still shockingly low considering the savings on the table. Many simply don’t know that they are able to switch and some just can’t be bothered, claiming it is ‘too much hassle’. That’s why we have written this article: to show you just how simple it is to switch your tariff.
Who supplies business energy?
Many of the household suppliers you are well acquainted with also provide business energy; however, some do not. This is not an issue; people in the UK really need to get out of the mindset that the big suppliers are the best. All supply companies provide exactly the same gas and electricity, the only thing that changes is your customer service and the price.
When you carry out a comparison, don’t be put off by the name that you’ve never heard of. The best thing to do is to type their name into Google and look at the reviews that they’ve received. It is more than likely that they will have much better customer service reviews than any of the Big Six companies like British Gas.
How do I make the switch?
Making the switch is extremely simple. You can use a comparison service just like for your household energy such as Money Supermarket or Selectra . These services, however, are likely to ask you for a bit more information that if you were soliciting household energy. Most business energy comparison services are also more likely to call you than completing your switch entirely online.
If you do wish to change your tariff completely online, here’s the information you will need:
- Postcode + supply address
- Meter Point Administration Number (MPAN)
- Meter Point Reference Number (MPRN)
Our advice, however, is that you give the company a call. If you find a tariff that you like the sound of, you should call the supplier directly and try to negotiate an ever better deal for yourself. If you are a high usage customer, they are likely to agree to better terms, given that you are going to be paying them a serious amount of money. This is not some strange ‘haggling’ method that we’ve just made up; this is common practice and is kind of to be expected by the suppliers themselves.
What meter type do I have?
Your potential new supplier will also most likely ask you for some basic information about your meter type and if that’s the type that you would like to stick with. Here’s the types that are currently available to business customers. If you see one that would better fit your business than the one that you currently have, you should inform your new supplier that you’d like to switch to your desired meter type.
Single rate meter – One single rate that measures your usage 24 hours a day at the same price. This is equivalent to the standard direct debit meter that most people have in their homes. Good for business that operate within peak hours (8am – 10pm).
Two rate meter – As you would expect, this meter type has two rates. It measures your usage similarly to a household Economy 7 meter: your usage is measured on two separate unit prices based on peak and off peak hours. This is good for businesses that operate in off peak hours (12am – 8am).
Three rate meter – One more rate added into the mix. This meter type has three rates with which it measures your usage: peak; off-peak; and weekends. This is good for those businesses that regularly open on weekends such as pubs and restaurants.
Half-hourly meter – Previously the most accurate way to measure your business’s energy usage. This meter reads your usage every half an hour. Great for those high-usage companies; however, this has been bested by the next meter type.
Smart meter – If you want just one single unit rate, this is certainly the most accurate and insightful meter type. This will give you your usage in pounds and pence in real-time, giving you much more power over your energy usage.
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