There is a chance that you are renting your business premises to tenants so you need to choose an energy supplier, especially if your rental package doesn’t include the energy bills. In such cases, it can be tricky to pick the right energy supplier that offers the best value for your money.
And, with the wholesale energy prices rising like never before, it’s crucial to consider other factors rather than just the energy price when choosing your energy supplier. This post explains the right way you can choose the energy supplier for your rental business premises.
Use Comparison Sites
You can find many adverts associated with the energy comparison sites, and these sites do have a use. This is especially when it involves comparing the best energy plans on the energy market.
Keep in mind that you need to choose the right electricity and gas deal so that you can save a significant amount of money on energy bills each year. After all, overheads for rental properties can already be high, so you need to find the cheapest energy deal for your business. Thankfully, Utility Bidder can help you find the right energy deal on the market.
It also makes sense to research and shop around for the best energy plan before committing yourself to a specific energy provider. Also, these comparison sites can allow you to compare a wide range of energy tariffs.
Energy Tariffs
There are several things you should keep in mind before you decide to choose an energy supplier. Energy suppliers offer various energy tariffs that include a fixed-price tariff, a variable tariff, and many more. You can also consider combining your electricity and gas in what is called a dual fuel package.
You can also choose the time of use of the energy deal which lowers tariffs for electricity in off-peak time, which is often between midnight and 7 am. Therefore, if your business uses most of its energy during this time, then the time of use can be something worth considering. Remember that peak energy use can sometimes be outside these hours, though for some business owners it may be the best energy plan.
Just like a mortgage, a fixed-price energy plan is usually more secure and cheaper than a variable tariff. This is because the price is fixed for the duration of the energy contract. In other words, the price is fixed at different rates during the separate stages of your energy contract.
With a fixed-price energy plan, it means that your energy rate remains the same regardless of whether the energy rates change. A fixed-price energy plan can offer the cheapest rates, but it doesn’t give you a lot of flexibility when it comes to switching energy suppliers. If you decide to change an energy deal before the expiry of the current energy contract, then you can be liable to pay an exit fee. This means you can avoid paying an exit fee by making sure that your energy contract is in the switching window. Once you are in this switching window, you can switch energy suppliers.
