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Anyone who has experienced the process without any help can say that switching to a new business electricity supplier can be very challenging. Especially for first-timers, planning the switch alone can cause stress and is time-consuming. If you have no idea what to do first when trying to replace your energy supplier, you have come to the right place. We will be guiding you with step-by-step tips on what you should do and how you can handle your switch easily.
How to switch business electricity suppliers?
Consider following these steps if you are trying to switch business electricity suppliers:
Review your contract.
Make sure that you have recently read your contract and confirmed that you are already eligible to either renew or switch to a new electricity supplier in a few months. It is recommended to start planning and finding prices a couple of months before the contract ends. Although there is this required window where the supplier lets you transition from their plan to a new electricity supplier, you still cannot risk them putting you in a default rate, which can be 80% more expensive than your previous tariff. Immediately cut ties with them as soon as the contract expires.
If you plan to switch to a new supplier before your contract ends, verify if there are exit fees and how much they can cost. If they seem too expensive to you, just wait it out. But if you think the exit fees cost nothing because of the new deal you are getting, then it can be more cost-efficient to pay the fees than to continue unfairly overpaying your current supplier.
Determine your average electricity consumption rate.
One important factor that is considered by suppliers when you ask them for quotations is your current electricity consumption as well as the budget you are willing to spend. Have this information ready for when you fill out quotation forms.
Secure your documents.
For a faster and smoother transaction, prepare important documents beforehand. These include utility billings, contracts, etc.
Start finding business electricity suppliers and quotations.
You begin looking for quotations by visiting suppliers’ websites. Now that the internet is pretty much accessible to everyone, their websites are made available for potential clients to easily reach business electricity suppliers. Asking for quotations are also made easier since they have provided automated forms which you can fill out and prices appear in just seconds.
Consult an expert.
It is advisable for newbies to contact an expert and ask assistance on what to do and how to find the best rates for the company. Utility brokers are the perfect professionals to ask for help from regarding this matter. It is their responsibility to provide clients with comprehensive prices comparisons that are tailored based on their company’s type and features. They make sure that you get the most cost-efficient plan and switch to a more competent business electricity supplier.
Finalise the switch.
Lastly, once all set and done, all you need now is to close the deal with your new supplier and end your contract with the old one. Do not hesitate to ask help from a utility broker for they can guarantee you that they can get the job done.