When it comes to energy usage, you always want to make sure you are getting the best possible deal for your business. 

In an increasingly competitive industry, with many different energy providers to choose from, businesses have the potential to make some great savings on their energy plans. 

If you’re looking to make a switch to a new provider, here are a few things to keep in mind to make the most of the transfer. 

Understand your energy needs

Before you jump into a new energy plan, it’s important that you first make sure you have properly assessed the energy needs of your business. Chances are you haven’t reviewed your plan for a while, and even when looking to switch providers you might just be thinking of sticking to the same type of deal. 

Business needs are often changing, and the plan you’ve had in place for years might not necessarily suit your needs today. It is important to look at your current energy usage to get a better idea of what you need from your energy plan before you start shopping around. 

Do your research

Have you done your research and compared different business energy plans? Have you spoken to a business energy specialist about the options that best suit your business?

You want to be sure you end up with a provider that is right for your business. Look at each of the energy providers in your area and consider various factors such as energy rates, fixed charges, discounts, value add-ons, loyalty incentives, as well as the overall value they can provide to your business. 

By comparing these you will be able to find the energy plan that is best suited to you and your business needs.

The Australian Energy Regulator and the Victorian Government both offer free services that provide information on all the current generally available electricity offers from all retailers, these services will ask you for some usage information, and provided a comparison of offers available.

You should also research your current provider, as perhaps they have other deals available that are more suitable that your existing plan. 

Consider all cost savings

Saving on costs is the most common reason for a business switching providers, so make sure your new provider will actually save you money in the long term. 

Look into whether they increase their prices year on year, and enquire whether prices can go up during your contract. You don’t want to go through all the trouble of switching to a new provider who seems cheaper or lures you in with a great discount up-front, only to discover that they raise their prices a few months down the line. This could leave you no better than you were with your previous provider. 

Make sure you understand all costs involved with the plan, and find out about any service fees or exit fees that may apply if you move to a different supplier in the future. 

As well as finding out about additional fees, ask about opportunities for further savings. 

Don’t be afraid to ask questions

Before you switch to a new energy provider you should always ask questions to ensure you are getting the best deal and that it suits the needs of your business. 

If there is anything you are unsure about in regards to an energy plan, from costs, to length of the contract, to how to make payments, make sure you ask for clarification upfront so you don’t get surprised by something once the contract is signed. 

Switching energy providers can sometimes be the best option for your business, so you want to ensure you do it right and get the best possible savings you can, both now and in the future.