If you’ve started a small business recently, you’ll know how hard you
have to work to succeed, especially in these times. Luckily, there are
ways to save money on running your business, money that can either be
reinvested or spent in your local community to help grow the economy.
Saving money on your business energy bills is a great way to start.
So, perhaps you’ve just moved into new premises and inherited
out-of-contract rates or ‘deemed rates’ from the previous contracted
tenants. Getting your quotes in quick and signing for a proper tariff
could see you save as more than 65% on your bills instantly. Setting up a
direct debit to pay your supplier straight away can also bring a saving
of about 3% on average, but you need to make sure you have the money in
the account on the DD day.
Once you’ve got your new contract in place, check the expiry date and
make a note of it in your diary… Now flick back a few pages so you’re
at about eight weeks before the expiration date... Now flick back a few
more pages and write in big letters “NOTIFY ENERGY SUPPLIER IN WRITING
OF TERMINATION OF CONTRACT”.
On this day, you need to write a letter informing your supplier that
you are terminating the contract. Why? Because contracts have an
automatic renewal clause, and once this kicks in, you’ll find that
you’re the victim of price increase – sometimes up to 40%!
Yes – FORTY PERCENT!
A letter of termination is straightforward to write. It doesn’t have
to be fancy, just a simple letter stating from the expiry date you will
not be renewing your current contract. Pop this in the post and use the
‘signed-for’ service, so you have a record of when it’s received. Once
you know your contract is no longer going to be renewed, you can gather
quotes, but remember that business energy quotes are only legitimate for
the day upon which it’s been quoted, after that, they cease to be
valid.
You should find that your supplier and other suppliers will be just
itching to give you the lowest rates they can for the next contract
period. Coincide this with seasons of low energy usage (eg the summer
months) and you can secure a nice low rate for the next 12 months.
Forget mainstream price comparison sites and consider chatting to a
UIA energy broker. They’re specialists in business energy suppliers and
how to get the best deals. Many offer free advice and consultation, so
you’ve got nothing to lose by giving them a call. Energy brokers will
actively negotiate with suppliers to lower your energy rates, so you’re
not being quoted from an automated system.
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