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The ultimate guide to saving money on your business energy

Written by at 11:57

The ultimate guide to saving money on your business energy

Business energy works in the same way as domestic energy does: the buyer pays an agreed amount to the energy supplier based on their usage.

There is a crucial difference, though. Whereas business rates for energy tend to be priced lower than household electricity and gas, domestic users pay less VAT. That means businesses could be paying more than households overall for the same amount of energy.

It makes sense that businesses should be  more careful in selecting their energy providers. We break down some of the key questions you might have to help you feel fully informed and ready to get the best possible deal.

1. Who are the best business energy suppliers?

Determining who the “best” energy supplier is for business is kind of like trying to say which flavour of ice cream is the best: it varies depending on who’s buying.

There are several  factors that companies should be aware of when looking for the best supplier:

  1. Rates

  2. Customer service

  3. Length of contract

  4. Customer benefits and rewards

The reason Love Energy Savings exists is to make this search as easy as possible. When searching for a supplier of gas or electricity for your business, you can see all of these factors laid out together to help you decide what works for you.

2. How do I know if I can trust an energy supplier?

It’s incredibly important for a business owner to feel that they can trust their energy provider. That’s why we advise checking online reviews of any supplier you feel might be relevant to your company using websites like Trustpilot.

You should also ask around your network to see if there’s anyone you know that has used a business energy supplier, or even just for recommendations. That way, you can reduce your list of potential providers to those you’re confident in, helping you drop those providers whose deals might be a little too good to be true.

To help you, we’ve surveyed the customers of the energy suppliers we work with to generate a rating for each. You can see them all here.

3. Why should I use a third-party intermediary (TPI) instead of going directly to the supplier?

The main advantage of using a business energy broker is that they can negotiate with the energy company to get a better deal on your behalf. Experts like ours negotiate with providers for better rates every day, so they know exactly how to get you the deal you need at the price you want.

Plus, we closely monitor the gas and electricity markets, and use our years of industry experience to help make informed, future-focused decisions about your energy.

4. Can I trust all business energy TPIs?

We believe that TPIs should be just as accountable, if not more so, than the energy providers themselves, but there are always a small few that will let customers down.

An easy way to check whether a business energy TPI is trustworthy is to check their site for up-to-date accreditations or qualifications from third parties. We’ve put together a checklist you can use to do so here.

You should also look at reviews from independent review websites like Trustpilot to see what existing customers say about them.

We’ve set the example with by signing the TPI Code of Practice. It governs third party referrers to make sure we follow the rules agreed and are open and transparent.

5. Can going green help reduce my business’s energy costs?

Upgrading your onsite facilities to be more energy efficient is a fantastic long-term solution to keeping your energy costs down for good.

Here at Love Energy Savings, we offer a range of goods and appliances to help keep your energy expenditure to a minimum, including:

  • LED bulbs

  • Heating controls

  • Boilers, gas and oil

  • Storage heaters

  • Cavity, wall and loft insulation

If your business is in need of an overhaul that requires more of an initial investment, there are funding options available to you. The Green Business Fund from the Carbon Trust, for example, provides direct funded support and up to £5,000 contribution per company towards your energy-saving equipment.

Want to find out how much you could save? You could get a business energy quote in minutes with Love Energy Savings. All you’ll need is your postcode, click here to get started.

 


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Since we were formed in 2008, Love Energy Savings has gone on to become the most trusted business energy price comparison specialist in the UK. We’re here to save you time and money, and to share our vast knowledge of the energy market. It’s no wonder that 86% of our customers continue to use our service year after year.

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