Switching energy providers can be beneficial to businesses, however, something that may have previously put business owners off switching energy retailers, was how long the process would take, and the potential disruptions to business operations as a result.
If you’re considering switching your energy retailer, it’s worth knowing about the recent changes to the process.
Australia’s national electricity market recently announced a number of new reforms. These changes will mean a better energy market for consumers.
Switching energy providers
Switching energy providers may enable you to find a better energy plan and reduce your electricity bills.
If your business is going through a transitional period, it may be a good time to review your energy needs and determine whether switching energy retailers would be a beneficial decision.
Review your energy needs and usage to see if your current plan still provides you with the best deal, and if not, it may be worth shopping around to see if other retailers, such as Next Business Energy, could offer you a better plan.
When switching to a new energy retailer, it could depend on the specific energy provider you choose, and the metering type, as to how long the process of switching energy would take.
Depending on the type of energy meter at your premises, some businesses would have to wait on meter readings to be complete before their energy would be switched over, and this delay could have a significant impact on business operations and costs.
Recent reforms to customer switching have been implemented to help speed up the process for customers to transfer to a new electricity retailer.
Changes to customer switching
New rules have recently been put in place around the industry processes of changing electricity retailers, with the rule changes aiming to reduce customer transfer times, through the implementation of system and procedural changes.
The Australian Energy Market Commission (AEMC) made the rule to reduce customer switching times, and customers will now be (generally) transferred to a new retailer within two days, regardless of which type of meter they have, utilising the customer’s previous electricity meter reading.
These new electricity market processes enable customers to switch their energy retailer faster and not wait months to get the benefit of cheaper prices. These updated processes will improve customer satisfaction and increase competition.
The new customer switching rule changes came into effect on October 1, 2021.
Switching to Next Business Energy
If you’re looking to switch from your current energy retailer to Next Business Energy, we provide free cost comparisons so you can compare your current energy rates to those offered by Next Business Energy and see if your business could be saving money.