How to switch your business energy contract

17 September 2015

 Many UK businesses have seen their bills increase in recent years, and research shows that it’s creeping up on the radar of key issues for business owners to address.

Indeed, statistics reveal that 54% of small businesses believe that operating costs have negatively impacted their cash flow, making it more difficult to invest in future growth. And yet, despite this, many businesses have never switched contracts, meaning they could be missing out on a more competitive energy deal.

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So, why should you consider switching business energy supplier?

Well, depending on your level of usage and the terms of your contract, you could make significant savings. You might also find a shorter-term or even longer-term contract with a different supplier, which could enable you to make greater savings later down the line.

In this post, we’ll look to address this and provide a working model for switching your energy contract, including:

  1. How to determine the best deal
  2. The practical steps involved in a switch

So, let’s take a look at each of these points in a little more detail.

researching business energy deals

How do you find the best energy deal?

To make sure you get the most out of your switch, there are three steps you should take to help you come to a decision:

  • Talk to suppliers: This will help you determine not only which one is offering the best deal, but also which provides a service to match your expectations and needs from an energy partner (or if you are choosing a contract through a broker, understand which suppliers they actually represent).
  • Check your meter and usage: Get to grips with how much energy you actually use. The better you know your consumption, the more accurate your quote from potential suppliers will be. If you don’t have a record of your actual monthly consumption, contact your supplier who will be able to provide historic consumption data.
  • Know your contract: Make sure you understand the terms and conditions of your current contract. Know your contract end date and how much notice you need to give to agree another contract or if you want to switch supplier.  

What are the practical steps involved in a switch?

Many business owners are put off switching their energy contract because they believe it will take a lot of time and effort. However, switching can actually be a fairly simple process (as our easy 5-step switching process demonstrates) and the amount of money you could save, along with the additional support and service benefits that some suppliers offer, often far outweigh the resource required to make the switch.

Below, we’ve detailed the key stages of the switching process:

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The main thing to remember when switching your energy is to get in touch with your new supplier as early as possible to start the ball rolling. This will allow time for your old supplier to raise any concerns as, in rare cases, a previous supplier may object to the transfer. A typical reason for this is if you have an outstanding balance with them or are still bound by the terms of your current contract.

If this does occur, you will need to resolve this with them directly. The best course of action is to determine:

  • The reason why they have objected to the switch
  • What you can do to resolve the case

Suppliers are subject to restrictions on when they can object to customers leaving them and are legally obligated to make you aware of their reasons, so if you don’t feel like they have a case, be sure to dispute this.

businesses reviewing energy costs

Can you afford not to switch?

Switching your energy contract can actually be a quick and simple procedure that could end up saving your business a great deal of money and time in the long run.

For more information, help or advice about how to switch your business’ energy contract, check out the 
Gazprom Energy switching process or get in touch to speak to one of our team about getting the right deal for you. 

The views, opinions and positions expressed within this article are those of our third-party content providers alone and do not represent those of Gazprom Energy. The accuracy, completeness and validity of any statements made within this article are not guaranteed. Gazprom Energy accepts no liability for any errors, omissions or representations.

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