Perhaps one of the utilities many companies don't review and negotiate new deals each year is with their business electricity prices and suppliers. Most business contracts are on fixed prices and fixed terms for at least a year and it may be difficult to find the right time to renegotiate or switch to another provider because of the terms of the contract.
Finding Cheaper Prices
Although with domestic utilities it's easy to find a price comparison website and simply put in your postcode to get quotes from the major providers it's not as easy with business gas and electricity.
You'll need to go to each individual website to get a quote which will not take so much time as there is only 6 or 7 suppliers when it comes to small business electricity prices and your get an electric quote straight away. But how do you decide which supplier is right for your business ?
There are two elements for finding the cheapest business electricity rates and this involves the actual prices being quoted and the length of the contract. It should be noted that many companies have trouble switching out of current contracts because there are terms and fixed time periods when you can notify your provider you want to switch or renegotiate and if you don't do this and provide the right amount of notice then the energy provider simply undertakes a roll over of the contract to new terms and in many circumstances new prices.
Lowering Your Costs
Once you have quotes from the main energy companies such as British Gas, Npower and Eon then you should call their account team to see if you can reduce the pricing even further. The cheapest prices are always generally online but it's worth a quick telephone call to see if you can reduce them even further. Ofgem regulate this industry so if you have any issues at all whether you are a first time small business customer or a large corporate they can help you.
New rules have been brought in for micro businesses (which most small businesses fall under) where the energy company has to notify you when your exisiting contract is coming up for renewal so you have the option to switch or change your prices.
Business electricity and gas supplies are one of the expenses you and your buying team need to keep a watch on to ensure you have the lowest current prices and are not tied into rolling over contracts on long term fixed prices.