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Business Energy Brokers & Utility Broker Service
Do you need a Business Energy Broker service?
For many businesses – particularly those with multiple sites and facilities – energy bills make up a large percentage of overheads, making them a priority when looking at ways to keep commercial costs low.
A simple solution is to switch your business energy supplier to get a better tariff rate. However, if you’re new to the world of business electricity, or you run a large-scale business with many variables to consider, finding the best deal requires a significant time investment.
This is where a business energy broker can come in.
What do energy brokers do?
Energy brokers work closely with energy suppliers and use that relationship to secure their customers a better energy deal than what they achieve by themselves.
A broker will do everything they can to ensure their client receives the best possible deal and in return will claim a commission on the energy that the client uses.
What is a business energy broker?
A commercial energy broker helps compare business energy prices from a number of suppliers, helping their clients get the best deals.
Businesses use a commercial utility broker to save time and money on securing a deal and make the switching process easier, especially if you're a larger business with half hourly meters installed.
What services do business energy brokers offer?
Business energy brokers offer a range of different services from comparisons to assistance in managing energy consumption.
Common services offered by business energy brokers include:
- Whole of market energy quotes
When you compare with an energy broker, you will have immediate access to quotes from a wide range of energy suppliers. This avoids the time-consuming process of going from supplier to supplier obtaining business gas and electricity quotes yourself.
- Management of the switching process
Your energy broker will handle the process of the switch on your behalf by communicating with your current and new supplier. This includes arranging a date for your switch and ensuring your new bills will be accurate.
- Contract renewal reminders
If you choose Love Energy Savings to handle your business energy comparison, we will contact you towards the end of your new contract to ensure you can stay on the best energy deal available.
This service will ensure you can avoid costly rollover rates and never overpay for your business energy again.
- Energy management advice
Your energy broker can assist you with energy efficiency, consumption reduction and analysis. Using access to your usage data, your broker provides advice on ways you can manage your business can manage its energy costs.
How to compare business energy brokers
Comparing suppliers with a business energy broker is a much quicker process than going it alone.
To start your comparison, you will usually need to provide your energy broker with the following information:
- Your business address
- The name of your current supplier
- Your average monthly bill amount
With this information, your broker will provide you with a range of energy tariff options from their database of suppliers. You can then select the tariff you want to switch either online or over the phone.
Once you’ve selected your new tariff, you will be asked to sign a Letter of Authority which allows your energy broker to get you set up with your new supplier and manage the switching process.
The pros and cons of using business energy brokers
Whether it’s a freelancer, a contractor or a consultant, there are upsides and downsides to hiring an external party to help with your business. The same is true for commercial energy brokers.
- Gain a better understanding of the market — Working closely with a commercial energy broker will help you learn about your energy profile and give you a birds-eye view of the industry as a whole.
- Industry expertise —You’ll learn the best practices to keep your energy bills to a minimum with a breakdown of how you are using your energy and where you can make cutbacks.
- Stay on top of your contract — Your energy contract may not be at the top of your to-do list but to a commercial energy broker, it’s their priority. Your consultant will let you know when your contract is coming to a close to help avoid rollover contracts, as well as assist you in deciding whether renewing or switching is your best option.
- Save time — Whether you’re a start-up or an established company, your time is valuable and is better served driving business than comparing energy prices. By working with a business energy broker, they’ll do all the legwork for you, finding you the best deals while you focus your attention where it needs to be.
- Get a better bottom line — Brokers work closely with a number of suppliers, both high-profile and independent. Thanks to these working relationships, a broker can naturally haggle a better price on business energy rates than a regular customer — giving you the best rates available.
Things to consider
- No broker can compare every supplier — It won’t be possible for a broker to compare prices for every single supplier in the energy market. If you’re looking for something more specific than a cheap rate — such as a clean fuel mix — you’ll need to make sure your broker works with suppliers that can provide it. You can see our full energy suppliers list here.
- You’ll still need to make a decision — Working with a business energy broker means you’re off the hook when it comes to comparing prices between suppliers. However, you’ll still need to choose the broker you’d like to use. You’ll need to do your research to make sure you’re working with the right broker, so you can get you the best deals on the market.
How our energy broker service works
At Love Energy Savings, we pride ourselves on our first-class customer service, making it effortless for our business energy customers to compare prices and secure the right deal.
We’re proud that our commitment to putting the customer first has seen us rated excellent from over 10,000 Trustpilot reviews.
We work hard to make the switching process as simple as possible for you. By comparing with us, you will have the choice of switching online or over the phone with one of our expert advisers.
Once you’ve chosen the tariff that’s right for your business, we will provide you with a dedicated account manager who will be on hand to support you throughout the switching process.
You can even keep up to date with the progress of your switch online using our Track My Switch tool.
To start your switch today, simply enter your postcode and find out how much you can save on your business gas and electricity.
Energy Brokers FAQs
What is an energy broker?
An energy broker helps customers purchase energy from suppliers/wholesalers. By hiring the services of a broker, customers can secure more competitive deals than if they dealt with a supplier directly. Brokers will monitor an energy account and inform you when a contract is coming to an end — they’ll then assist with the switching process.
How many energy brokers are there in the UK?
There are over 3,000 energy brokers in the UK today, but few have the credentials to get you the deal you need.
If you’re in need of a business energy broker, make sure you research all your options to ensure you’re hiring the services of a reputable source.
Do you need a licence to be an energy broker?
No. An energy broker will secure a deal for you and manage the relationship between customer and supplier. However, as they do not directly involve themselves in transporting or distributing energy, a broker does not need the same licences as a supplier.
That said, a reputable broker will adhere to a code of practice that ensures you get the best service possible. This means they’ll be transparent about how they work and the suppliers that they work with.