It’s no secret that electricity is a significant expense for businesses, and at some point or another, it may become a difficult one to afford. Not paying your electricity bills can have serious consequences, and if you don’t address the issue, it can negatively impact your business operations.
Staying on top of your business energy bills is important, but if you’re currently having trouble paying your electricity bills, there are things you can do and help is available.
Review your current bills
If you’re having trouble paying your energy bills, a good place to start is to review current bills so you know how much you’re currently paying.
Review the costs of your business energy bills over the last year and take note of any spikes in energy usage or costs that may indicate peak demand periods and potential areas to reduce energy consumption.
If you see any fees or charges appearing on your bills that you don’t understand, your energy retailer will be able to provide more information. You can also read our blog on the various charges that may appear on your business energy bill.
Contact your energy retailer
If you’re struggling with your energy bills, you should contact your retailer as soon as possible. This can help you avoid paying extra fees, getting into debt or risk of being disconnected, which can cause serious issues for business operations.
There are measures in place to help businesses having trouble paying energy bills and your energy retailer may offer you various options to assist with your energy bills.
One option may be to change how often you pay your energy bills, or pay smaller amounts more often, to help make it more manageable. You may also have the option to delay the payment of a bill, though you can generally only do this once a year. During periods where you may have more finance available, you could pay bills in advance when possible.
Your energy retailer will discuss your assistance options and what may be most suitable for your business. Disconnection of energy is a last resort, and your retailer must provide a reminder and warning notice before this happens, but to avoid reaching this stage they will make attempts to contact you.
Reduce your energy costs
From higher energy prices to an increase in usage of energy, to financial difficulties in the current economy, there can be various reasons why it may become difficult to keep up with business energy costs.
If you’re having trouble paying your business energy bills, it may be a good time to look at where you can reduce your energy usage and costs within your workspace. This could include replacing and upgrading your office appliances to more energy-efficient versions, setting your lighting and heating and cooling systems to a timer to avoid excessive use, and turning off computers and devices at the end of each day.