Every twist and bend in the intricate web of commercial energy contracts can result in a brand-new opportunity or a one way ticket to paying more than you need to. That’s why we’ve prepared a guide for you to help you know what to look for when you next recontract your energy.
Before you start comparing business energy contracts, it's crucial to understand your business's energy needs. This means assessing your energy consumption patterns, your budget, and your sustainability goals.
At Energy Action, we believe that understanding your energy needs is the first step towards finding the right energy contract. Our team of experts can help you analyse your energy usage, identify cost-saving opportunities, and set realistic goals for reducing your carbon footprint.
There are several important things to take into account as you navigate the energy contract market. You can use these to determine the best course for your company.
When deciding on the best contract, price stability might be a huge benefit. Contracts with fixed rates may offer stability, enabling you to budget more skilfully. However, they can prevent you from taking advantage of possible price decreases in the energy market.
Your energy prices may be significantly impacted by the length of your energy contract. Longer agreements can stabilise prices and offer protection from future price hikes. They might, however, also keep you from benefiting from future price decreases. Shorter contracts provide you more flexibility, but they could cost more.
If sustainability is a priority for your business, you should consider contracts that include green energy options. Green options can range from contracts that include a certain percentage of renewable energy to those that allow you to purchase renewable energy certificates. Energy Action's green auctions can help you procure renewable energy at competitive prices.
Another crucial issue to take into account is the energy provider's reputation. You should pick a provider with a solid reputation for dependability, client satisfaction, and sustainability.
Finally, consider the technology and reporting capabilities of the energy supplier. Having access to detailed energy usage data can help you manage your energy more effectively. Energy Action's energy reporting services provide you with the insights you need to optimise your energy usage and reduce costs.
There are different types of energy procurement for different types of contracting. Each type of procurement offers something different, and the right choice depends on your specific needs and circumstances.
Each of these procurement strategies has a unique set of advantages and the ideal option will rely on the particular requirements and objectives of your company. In the next section, we'll go into more detail about the elements to take into account when selecting the best contract for your company.
After considering the various factors and weighing your options, it's time to make the final decision. But how can you be sure you're getting the best deal possible?
Navigating the energy market can be complex, and having expert advice can make a significant difference. Energy brokers, like Energy Action, have the expertise and market knowledge to help you make an informed decision. They can guide you through the process, help you understand the fine print, and negotiate on your behalf to ensure you're getting the best deal.
Leveraging technology can also help you manage your business energy more effectively. Tools like Energy Action's Utilibox provide you with detailed insights into your energy usage, helping you identify cost-saving opportunities and make more informed decisions.
Finally, remember that your energy needs may change over time. Regularly reviewing your energy contract can ensure it continues to meet your needs and allows you to take advantage of any changes in the energy market.