Top 5 Money Saving Expert Tips for Businesses
Martin Lewis, of Money Saving Expert, single-handedly almost crashed the internet after revealing the savings that could be made on energy bills, on his ITV show.
On his primetime TV show - Martin Lewis Money Show LIVE - he claimed that UK domestic energy consumers could be saving between £200-400 million if they simply switched energy supplier. This resulted in avid viewers immediately trying to see what cheaper deals they could find, crashing many energy supplier and comparison websites.
We have always been great advocates of switching supplier here at Love Energy Savings having performed over 100,700 switches, saving our customers almost £85million on their business electricity and gas bills.
Now you would be forgiven for thinking that Martin Lewis was only aiming his show at homeowners, so how can businesses benefit?
Well we’re here to tell you that we recently performed some independent research which found that businesses across the UK have lost out on over £2.4billion by failing to switch over the last five years. That’s quite a bit more than the £200-400 million homeowners are missing out on, so what are businesses waiting for?
In a recent Manchester Evening News article, Martin Lewis gave consumers five tips on how they can find a cheaper energy deal. Here at Love Energy Savings we don’t want businesses to miss out either so, as the business money saving experts, here are our top five tips for commercial energy customers.
1) Switch your tariff
Martin Lewis is not the only one that advocates switching energy supplier as the first port of call when trying to find a cheaper energy deal. On average, we save our customers 40% on their annual energy bill when we switch their tariff. For some businesses, you may not even have to switch supplier, it may just be a case of choosing a different contract.
Suppliers always have a wide range of deals and the introductory contracts that you originally signed up to will have – more likely than not – been cheaper to entice you. These deals are still available and our energy experts work hard to find those tariffs for you.
2) Use a trusted comparison website
We work with all the major suppliers including the ‘Big Six’ and numerous independents. Due to the close relationships we have built, we can often access the full range of options that may not always be immediately obvious to a consumer.
Not only do we have access to over 150 different tariffs but we make it easy and simple too. All you have to do is perform a comparison online or call one of our energy experts, select the tariff you want and then we do all the hard work for you.
You may be nervous if you have never used a third party before, but as long as you use a trusted website, you have no need to be worried.
We offer a fair price guarantee, £1,000 cashback if we can’t beat your initial renewal quote and we actively comply with and promote the TPI Code of Practice which seeks to ensure transparent and compliant activity across the industry.
You don’t even just have to take our word for it. We are extremely proud to boast a five-star rating on Trustpilot with over 1700 reviews from our satisfied customers. That many people can’t be wrong!
3) Call one of our Energy Experts
Our energy experts have years of experience in the world of business electricity and gas, and they are always on hand to share expertise and consult you on what the best option is for your business needs.
As mentioned before, we compare over 150 tariffs from 18 different suppliers. Our experts know these deals inside out and are best placed to save you both time and money by helping to tailor one of those tariffs to your individual requirements.
We are based in the UK so you can be sure that you’ll get through to one of our friendly experts in no time at all. They can perform an electricity or business gas comparison with you there and then (as long as you have a bill to hand) and can even email you the quotes so you can have some time to think about which one you would like to go for.
Once you’ve chosen it takes mere minutes to agree to verbal contract, which is recorded for peace of mind, and you will then be assigned an account manager who will be on hand to help with any queries and even help you renew to a cheaper tariff (if one is available) year-on-year.
4) Invest in a Smart Meter
We have always been keen to promote new technology at Love Energy Savings. Back in 2012, the UK Government launched its Smart Metering Implementation Programme which aimed to roll-out these nifty devices to consumers across Britain.
It is hoped that by 2020, 50 million smart meters will have been installed, meaning that every home and small business premises will no longer be subjected to estimated billing. Instead, the smart meter will allow meter readings to be accessed remotely, guaranteeing an accurate bill.
They are also useful for monitoring your business’s energy usage. With carbon reduction targets becoming even more challenging, it will become even more important for SMEs to become more energy efficient.
Admittedly, smart meters themselves won’t directly save your business money, but your interpretation of their data can. Seeing the monetary effect of leaving that computer on overnight is more likely to incentivise behavioural change than a poster, or a nagging staff member.
To find out more about Smart Meters you can read our handy business guide here.
5) Look beyond the Big Six
At Love Energy Savings we are committed to providing you with as many tariff options as possible to find you a cheaper deal. In recent years, there has been a mass influx of new independent suppliers entering the energy market to challenge the Big Six. You can read about them here.
We work with numerous independent suppliers including Opus, Ovo Energy and Dual Energy, plus many more. They all claim to offer cheaper prices, better customer service and some even have 100% renewable energy options for those of you who are environmentally conscious.
It is worth looking at these alternatives to see if you could save money but, also, it may be the case that they provide you with a better customer experience, something which money can’t buy.
We have a guide for you to have a read through here in case you want to find out more about the independent suppliers we work with.
Alternatively you can easily perform a quick comparison on our website to see if one of these options are the right choice for you.
If you need a bit more information or help choosing which supplier to go with, our energy experts are always on hand to provide free and impartial advice, just give them a ring on 0800 9888 375.