How to keep bills low without compromising on consumption
In Britain, there is an open market for most utilities.
While regulated, this means that business owners who operate in – or have sites in – the UK are free to find the best deal available to them.
It’s a business owner’s responsibility to find trustworthy and transparent billing suppliers, which can be tricky with many utility suppliers having underhanded billing tactics.
From hidden wholesale charges to broker fees to having poor records in producing bills, there are many ways in which owners can find themselves breaking the bank on bills.
And if this leads to a change in consumption patterns, it could significantly impact business operations for energy reliant sectors like construction.
This guide covers the fundamentals of finding and agreeing business utility contracts that ensure there aren’t nasty surprises
Read industry reports on performance
From meter readings to switches in and out, industry regulators often produce reports so that business can clearly see who has a good track-record.
Look out for reports from Ofgem and similar regulators that are specific to business owners to keep on top of industry trends, and what suppliers may be worth avoiding.
Do the anecdotes match?
Most utility suppliers have TrustPilot pages, see what verified customers have to say about a prospective supplier’s performance.
In some cases a supplier may have excellent customer service, but a poor meter reading track record or vice versa – reading reviews will show the good and bad of each supplier, allowing for a better informed decision.
Avoid brokers and tied-in ‘comparison’ sites
Some brokers, full-package energy companies and comparison sites have deals with specific network wholesalers rather than working across the entire network.
These types of businesses are best avoided, as they may miss good deals that are available to you in favour of deals where they can get commission.
To put this into context, Castle Water – which is an independent water supplier that isn’t tied in with any wholesaler – allows you to get a quote that takes into account the industry that you operate in and the location in which you are based.
This allows them to shop around wholesalers and network supply services to find rates that factor in regulatory requirements that may be specific to your sector.
Meanwhile, a business with a supplier or wholesaler partnership is incentivised to get the best deal available through their partnership, not the best deal available to you.
Work with specialists
Getting a reasonable bill is a good start, however, it’s always worth checking out suppliers who offer specialised services alongside billing that may benefit your business.
For example, if you are in an industry that requires reputation management, there are suppliers such as EDF Energy that offer net zero energy solutions like EV salary sacrifice.
Stay away from annual bills
If metering is wrong, it’s best to catch it as soon as possible. With that in mind make sure a prospective supplier provides monthly billing, not annual bills that could see you in a lengthy reclaim process.
It’s also worth opting for automatic meter readings wherever it is available; with many suppliers offering free installation.
Know your worth and keep bills at bay
Don’t neglect negotiation; haggle a better deal. Look at different options available to you, ask questions, know industry-specific regulation and make sure their billing can factor in things such as temporary supply on sites.
Bills rightfully should be an afterthought, but for that to be the case, it is very-much worth putting in thought during the setup process.
