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7 ways to save on your business energy bills
Know your contractual position
27% of UK businesses are sitting on either an inflated variable tariff or an emergency rate. Do you know when the contract ends for each of your energy supplies and sites. When was the last time you checked what type of contract you have, what you need to do to terminate it and what happens when that contract expires?
Beat your relevant date
Your relevant date is the last day on which you can enter a valid termination notice and either switch to a new tariff or change supplier at the end of your contract without incurring expensive variable or out of contract rates, you will always find this along with your actual contract end date on your bill. Did you know a termination notice can be posted at any point during your contract lifetime in line with your supplier’s terms and conditions?
Take advantage of the Smart meter roll out
Your current supplier is obligated to provide you with a smart meter free of charge. Smart meters put you in control of your energy helping you to see in near real time where you can save on your energy usage. Take a look at our help guide on Smart Metering to see how this innovative technology can save your business money.
Manage your energy consumption
It sounds obvious, but many businesses are simply too busy to consider what they can physically do to save energy and money, often small business owners are unaware of the cost implications of leaving appliances running unnecessarily. Simple habits such as switching everything off at night or keeping an eye on that air conditioning unit in the summer and thermostat in the winter can make a big difference. Make sure you have the latest energy efficient bulbs fitted especially in locations where lights are often left on for long periods, a modern LED bulb can emit the same light as a traditional 60 watt incandescent bulb for as little as 15 watts a cost saving of 75%!
Upgrade your appliances
You might also like to think about replacing old appliances such as heaters or fridges as these become less efficient over time and modern equipment is inherently far more energy efficient. You can find information about an appliance's energy consumption on the label and by following our helpful guide, you can work out the cost to your business. Your old boiler may also be guzzling energy at a frightening rate. Please do your sums however as it is important to consider how long it might take a new piece of equipment to “pay you back”, your short term cash flow position might mean you can get more bang for your buck elsewhere in your business. Don’t forget to be kind to the environment and recycle your old equipment though!
Arrange your new contract in plenty of time
Nobody likes rushing around to get things done and often this is where a quick decision can turn out to be costly to your business. Make sure you have chosen your new supplier and tariff at least 30 days before your existing contract expires to make sure you have time to complete the switch by your contract end date. Don’t worry if you can’t, our team are on hand to recommend a fast moving supplier and balance any cost implications against what you might pay on variable or out of contract rates to ensure you still get the best possible deal for your business.
Give us a call
Wading through all the information in an effort to understand your position and the wider energy market can be a tiresome and intimidating task. Why not kick back by giving us a call and letting our expert team do all the hard work for you.
01327 601122