A brief business energy renewals guide

A brief business energy renewals guide

Business energy bills often make a significant dent in profits – but it doesn’t have to be that way. There are usually significant savings to be made from a business electricity switch. But, did you know that the timing can impact significantly on the amount you can save?

Renewal

You should receive a renewal letter from your business electricity provider approximately four months before your current contract is due to expire.

This letter indicates the beginning of your renewal ‘window’. This is the best time to look for a better deal. This window tends to end about 90 days before the current contract expires. If you do not switch prior to this, it will not be as easy to switch supplier. To find out exactly when your renewal window starts and ends, all you need to do is take a look at your existing contract.

By acting quickly when you receive your renewal notice, you will almost certainly be able to save more money by switching than if you leave it too late. If you do not change your supplier in the renewal window, it is likely that you will be ‘rolled over’ onto a new and potentially more expensive tariff.

On average, you could save around 30% on your bill if you shop around and switch to the best deal versus simply allowing your contract to roll over.

Compare

Many business electricity price comparison sites, including ours, will allow you to obtain an initial business electricity quote from numerous providers. All you need to do is provide some basic information about the nature of your business, your location, and your usage (actual and/or anticipated).

So why not use our friendly comparison tool today to see how much you can save?