Utility charges vary from one company to another, so it’s important that you compare the prices so you can get the best deal and value for your money. These companies are always after new customers, so do not hesitate to ask for a quote. It’s actually easy because some utility companies let customers do it on their website, while some even make cold calls to get potential clients to jump on board.
If you’re after tips to get the lowest utility prices, read on below to learn more.
- Check the nitty-gritty details
When it comes to checking business gas prices and electricity charges, it shouldn’t just be the kWh unit rate and gas usage that you should look at. It’s also important to check if the standing charges are at a reasonable price. In short, you’ll need to compute the potential annual cost of your utility bill instead of the individual rates.
- Check your contract expiration
Many utility providers for businesses draft up contracts that just roll over until you request them to stop. More often than not, they require their clients to terminate the agreement before they can stop utility provision formally. This is why it’s crucial that you monitor the contract dates so you can end it as soon as the term allows you to before the price increases so you can look for a new provider that will give you better rates.
- Get annual quotes from providers
One of the best ways to get reasonable utility rates is by requesting a quote from energy suppliers on a yearly basis. By getting four to six quotes from different suppliers, you’ll always have options to choose from. If you don’t want to leave your current supplier, you can always ask them if they can price match or offer discounts so you can stay with them.
- Get a broker or base your choice on referrals
Energy brokers are the best people to talk to if you’re after the best energy provider. They are also knowledgeable about the different types of contracts and which one will suit your business more. And since they have many connections, they are often given different rates that are cheaper than the prices from suppliers. You can also ask for referrals or price ranges from your network, so you can make an informed decision of whom to go to.
- Get a long-term contract
After hunting for the best rates, you may want to talk to the utility provider for a long term agreement if you foresee the prices rising soon. Some providers can give you a five-year contract, but with prices that are at least 10% higher than the regular one-year contract. While the average cost is higher than the usual rate, a longer-term agreement will protect you from any price changes in the future. Many businesses prefer this since it makes cash flow management and budgeting easier.
Don’t stress over your utility bills because you can always get the best rates if you just know where to look.