What should you know when looking for energy providers for your business?

At a glance:

• Choosing the right one is critical as the energy supplier manages the rate you pay for your energy supply.
• Energy consumption between the residential sector and commercial sector varies.
• If you’re looking for credible energy plans for your business, get in touch with Select and Switch.

Identifying the right energy provider for your business is crucial as your energy supplier manages the rate you pay for your energy supply, so you should research before choosing one.

If you are seriously considering switching and wish to avoid doing lengthy research, the advantages of Select & Switch can be of great assistance. With Select and Switch, it is stress-free for you to compare a range of business energy plans from different providers to help you save some money on energy.

Select & Switch energy comparison tool helps you compare the price of different energy plans and then opt for the most appropriate offer. In the comparison tool, you first enter your postcode, and then your energy usage from a recent bill to identify and compare different energy plans available to you based on where you live.

• Compare: Quickly and easily compare leading energy retailers for your address.
• Select: Compare the offers and choose the one you prefer. With retailers ranked by savings or price, you can be assured that the comparisons are unbiased.
• Switch: Switching to a new offer is as simple as filling out a few details and then letting us handle the rest.

Furthermore, energy consumption between the residential sector and commercial sector varies, and so do energy bills which are also predicated on the nature of the business. Here are some examples to further clarify the energy consumption:

Heating

The residential sector consumes 43% of its energy for space heating. Space heating is significantly more energy-intensive in the residential sector than in the commercial sector. Only 25% of commercial energy is used for space heating.

Lights

Commercial buildings consume twice as much energy as residential buildings as a percentage of total energy consumption for lighting.

Water heating

The percentage of energy consumed by water heating in residential buildings is almost three times higher than that in commercial buildings. Dairy farms end up spending more time on water heating, particularly in peak production.

Refrigeration system

When compared to a residential building, a commercial building’s refrigeration system consumes a greater amount of energy. To illustrate, cold storage facilities tend to spend more on refrigeration systems.

The residential sector has increased its energy use while decreasing its energy intensity (energy consumed per square foot) over the past three decades. Energy intensity and total energy use have both increased in the commercial sector. So, getting the right energy plan can save you money in the long run.

Overall Power consumption

Electricity consumption was, on average, 1.2% higher each year from 2015 to 2020 and remained steady in 2021 (238 TWh). Electricity is consumed most commonly by industry (33%), followed by services (29%) and households (26%).

If you are wondering how to find the right energy provider for your business, these are the things you must consider when looking for a new energy provider for your business:

Business Tariffs:

Switching tariffs may be your priority to get the most competitive deal for your business. It is not easy to comprehend the electricity grid or the system. In a nutshell, your tariff determines which electricity usage scheme you are on.

You may pay the same rate all day, all the time in certain areas, and depending on how your meter is configured.

For example, if your electricity use is billed at a single rate, this is the easiest way to do it, but it can become more complex as time goes on.

A peak, off-peak, and shoulder rate is another example of an electricity use tariff. Alternatively, this setup is also referred to as Time of Use tariffs. Depending on the time of day, you’d be charged differently.

• The term “peak rate” is used to describe the rates that apply when electricity usage is at its highest.
• If you use off-peak, you’ll be charged for using the service during low-use times of the day, and it’s usually cheaper.
• Usually, shoulder rates apply during the period between peak and off-peak hours.

Each state, distributor and provider has its own tariffs, and sometimes even different names for them. So be sure to find out how much you can save by switching providers, so you can be sure to make the right decision.

Payment Terms and options:

Electricity suppliers generally accept direct debit as a form of payment. Suppliers can also extend payment terms. Payment terms can even extend up to 30 days with some suppliers. Regarding payment terms, there are three forms of fees. First, there is the dishonour fee, which is charged if you do not have enough funds in your bank account to make your direct debit payment.

There is also a Late Payment Fee that will add additional charges in the event you’re unable to pay your bill on time. Lastly, some energy providers charge a credit card fee for payment.

By having favourable payment options in addition to the initial price quote, your business energy tariff can be competitive.

Some tariffs, for example, offer a significant degree of control over energy management to business owners. It can help you manage your budget and save money if you can control when and how you top up your energy balance. Various payment options could be covered here. These include Online with a credit card, direct debit, Bpay, cash, cheque, pay in person, etc.,

It may be more convenient for you if you can see how much you are paying for your energy payments before they leave your account.

Customer Service & Support

When you choose an energy provider for your business, you basically agree to form a professional relationship with your provider. Thus, credibility and resourcefulness are important to exercise a good relationship between both involved parties. A reliable and credible gas and electricity provider will help you achieve peace of mind by providing the services you need for your business to operate smoothly. You can always check for the status of the customer service and support centre of an energy provider before selecting them. You want to know you can easily contact them if needed.

Reputation

Reputation is one crucial thing that best helps you choose the right energy deals for your business. A reputable energy provider can always assure you good service through all ups and downs going on in the energy market. Select and Switch compare business energy plans from across a range of leading providers within your area. This lets you find a reputable energy provider with years of experience in the market. You can also check out the energy retailer’s Google reviews to gauge their reputation.

Reasonable Contract Policy

As long as the supplier meets the above criteria, you will naturally want them for a long time. However, some cases may warrant checking to see if they meet your expectations. Contract policies are one of the main reasons customers often opt for new energy providers.

The length of your contract will be important to know if your lease expires in one year or if the company is about to be acquired. Suppose you have an electricity contract; what should you do with it?

It’s okay if you want a shorter or longer period of power; there are electricity suppliers who are more than willing to accommodate you. You might want a longer contract, as you want to lock in your rates for as long as you can. There are options like 1-year to 3-year contracts.

Standard retail contracts: The terms and conditions of a standard retail contract cannot be changed by a retailer. A contract of this type is likely to be on your record if you have never contacted a retailer about an energy contract, or if you have never changed retailers. You may have to pay a state or territory government for your energy under some standard retail contracts.

Market retail contracts: The terms and conditions of market retail contracts differ from contract to contract, but at a minimum, they are the same. Some energy retailers may not provide you with all market retail contracts, but you can definitely compare the offers available to you. It is possible to get market contracts for less money, with renewable energy or discounts, and in some cases, you may have to pay exit fees if you want to leave early. It is best to shop around for the one which best suits your needs, as retailers offer different market contracts.

We encourage you to use Select and Switch if you need to switch electricity suppliers because your rates are too high, or you are unhappy with the terms and conditions. It’s easy and will be beneficial to your business!

Businesses leveraging large amounts of energy are often on commercial agreements. Select and Switch lets you choose from top energy providers in your area who offer transparent and reasonable contract terms.

Renewable Energy Options

Thanks to the green energy plans available across Australia, many businesses are shifting to renewable energy. Green energy is a great option for small-scale businesses to lower their energy bills and reduce their carbon footprint. While choosing a new energy provider for your business, you can always check for renewable energy options. Contact the experts at Select and Switch today to learn more about the green energy plans available for your business.

Select and Switch provide a transparent and reliable business energy cost comparison that will help you select an energy provider for your business. If you are looking for credible energy plans for your business, do not wait any longer and get in touch with Select and Switch today.