7 signs you could be paying too much for your energy
Small and medium-sized businesses like yours could be paying too much for their energy rates every day.
Here are 7 signs to look out for and what you can do about them to start saving on your bills.
1.You’ve never switched suppliers.
You may not always have time to compare business energy rates and think about switching suppliers. But sticking with one supplier means you’ve probably missed out on better deals out there.
Shop around a little and get suppliers to compete for your business, offering you better prices.
2. You haven’t compared tariffs.
It helps not only to compare different suppliers but different tariffs within one supplier as well.
If you haven’t, there’s a chance that there’s a tariff out there that better suits your business and its energy usage. Finding the right one can help you significantly cut down your bills.
3. You didn’t take a new deal at the end of your contract.
When your contract’s about to end, you have a window to find yourself a new deal or renew your current one. The window varies for different suppliers and if you miss it, your supplier will put you on this thing called deemed rates.
Deemed rates are usually up to three times higher than normal energy prices.
If you don’t stay on top of your contract – when it ends and when best to switch, you can end up with an extra large bill at the end of the month.
If you’ve signed up to troo, we’ll let you know when the time comes so you don’t have to worry.
4. You’ve taken your supplier’s first renewal offer.
This is when playing hard to get actually comes in handy.
Suppliers will try to get away with a higher price in their first renewal offer to you. Turn it down and say you’ll look around for better deals and watch the price drop.
5. You’re paying your broker’s fees as well as your energy rates.
If you’re using a broker, it’s more than likely that you’re also paying for their fees on top of your energy rates.
Even if they don’t charge you directly for their service, their commission fee is added onto your monthly bills and can cost you 8-40% of your unit rate.
troo is completely free to use because we charge suppliers a flat fee only when they win your business. You pay your bills directly to your supplier with no hidden costs.
6. Your broker doesn’t let you compare deals.
If you’re using a broker, they can recommend you a deal without showing you all the options. This means your deal is chosen based on what’s best for your broker, not you.
Ask your broker if you can see all the options available and choose what’s best for you. If they refuse, they’re probably making more money by keeping your bills high.
7. You switched when the rates were high.
Business energy rates and prices, like stock, go up and down. If you switch when the prices are high, you’ll be stuck paying too much for the rest of your contract.
Keep an eye out and monitor the prices before you switch. If you’ve signed up to troo, we’ll do this for you.
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