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Five easy steps to renewing your business energy

27/07/2021

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Renewing your business energy can be a really painful, and possibly, a costly experience.

Our 5 point guide is here to make the job as easy and painless as possible.

 

1. Choose a tariff that works for you

There are many different business tariffs in the market, and the choice can be overwhelming, even for those with experience.

Generally, all you need to be aware of is that there are two different types, fixed and variable (flexible)

Fixed energy contracts

Fixed contracts usually afford the best prices and are the most common used by small businesses. As the name suggests, the prices are fixed for the duration of the contract term.

Key features:

  • The gas/electricity price is fixed for the duration of the contract giving you some budget certainty for the deal’s term.
  • If the market increases, you are protected from rises.

 

Flexible energy contracts

Flexible contracts are for those unable to commit to a long term deal, and as result, prices tend to be higher.

In either event, if you are looking to switch, make sure you have given appropriate notice, usually at least 30 days. It’s also a good idea to ensure all outstanding bills are settled so enabling the switch to occur as soon as the old contract ends.

 

2.  Ensure you know the troo cost of your energy

An excellent place to start is to take a look at your energy consumption from your old bills. Are any of these estimates? Take a look at your current meter reads. Does it tie up to your estimated usage? The key here is to get an accurate assessment of your annual consumption. Is the last twelve months usage accurate? Do you need to adjust for COVID lockdown periods, for example

Is your quote is really fixed ?

Ensure you get a good understanding of what is and is not included in your energy deal. This is particularly important when looking at non-energy costs such as Feed in Tariff Levy (Fit) and Capacity market charges. These costs, often referred to as pass-through, are not always included in the fixed rate and may result in additional expenses throughout the contract period.

Climate Change Levy (CCL) and VAT

It’s always worth confirming that your quote includes, or does not include, CCL and VAT when comparing costs. Specific organisations, such as charities, may be exempt from CCL or pay reduced VAT, so it is essential to adjust any appropriate quotes.

Discounts and additional charges

Ensure you know discounts for paying by DD or penalties for paying cash/bill; these numbers can soon add up.

 

3.  Check out the customer service.

Not all energy companies have the same level of customer service; indeed, the general level of service in the industry is poor (OFGEM); it does vary from supplier to supplier.

It can be easy to dismiss service when looking for a low price, but a supplier needs to be there when you need them.

A few questions you could ask are:

How easy is it to manage my account?

How easy is it to contact customer service?

Does the supplier have any additional benefits?

This is the main reason at troo we created troo assure, all our customers have a dedicated point of contact to take away all the hassle of dealing directly with a supplier. Troo assure deals with everything from bill checks to meter queries, all at the end of the telephone.

 

4.  Timing

If energy prices are rising, as they are currently, it could pay to agree your next deal up to twelve months before your current one ends.

The market can be volatile, and waiting is not always the best course of action.

 

5. Engage with a professional energy broker such as troo

 

Here at troo we take on board all of the points above and more to ensure you get a fair price for your energy.

We consult a panel of over twenty-five suppliers to get you the fairest price possible and always disclose our fee, so you know exactly what you are paying to whom.

With troo assure, you have a market-leading customer service platform that proactively checks your bills and is always there for your queries and issues.

 

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