Energy is one of the most precious commodities in the world. Without it, the modern world will come to a stop, especially businesses.
But, if you are starting your business in the UK, you might get confused by the number of business energy suppliers. There are about 50 active energy suppliers in the UK to date.
So trying to find an energy supplier is not an issue, it’s on who should be your energy supplier. And with the help of this article, you’ll be able to answer that question.
Understanding the UK Energy Market
There are three elements in energy supply in the UK – production, transmission and distribution, and selling. Most of the electricity produced travels to the national transmission network but, small-scale power stations will connect to the regional distribution network.
The transmission system is where high voltage electricity travels. It’s the National Grid that controls this which, ensures that supply meets demand. Distribution networks are where electricity travels from the transmission network to homes and businesses. Most of these are run by companies.
Energy suppliers are the ones who sell energy to customers. They buy energy from the wholesale market and sell it in retail to customers. This results in a competitive market in which customers can choose which energy supplier they want.
Depending on the company, they can either operate in all three or just one.
Electricity and Gas Markets are managed by Ofgem(Office of Gas and Electricity Markets). Their role is to protect consumer interest by promoting competition.
What to look for in a business energy supplier
With so many energy suppliers in the market, the option of switching to a new one is not hard. Looking for the right one is. So to help you, here are five factors you need to consider in choosing an energy supplier:
Check Where the Energy of Your Supplier is Source
Because of modern innovation, there are now energy sources from solar, wind, natural gas, and nuclear. Government can sometimes impose different taxes on different sources of energy so, knowing what energy source your supplier uses will tell you if it’s expensive or not.
Also, take note of what charges these suppliers impose on their consumers.
Analyze Your Energy Cost
You must understand the energy cost of your business because you will be better at choosing the right energy supplier for your business. So before you review and compare different business energy suppliers, look at your recent utility bill first from your current supplier and see how much you are spending on gas and electricity.
Consider the Suppliers History
Because of the number of energy suppliers in the UK, each one will be providing competitive and different services to one-up each other. But, before you choose one, review their history to know if they’re trustworthy. Check also if they have a license to operate in your state.
Consider Their Customer Service
No business is perfect and the same is true for your energy supplier. For example, you might experience an unscheduled power interruption. So, it’s essential that if you have inquiries and questions, see to it that your supplier can answer them with no problem.
Don’t Be Afraid To Choose
You have the right to choose and switch energy suppliers, so don’t be afraid to use it. Research and find a company that will help you increase your savings in your business. Review their pricing plans and terms and conditions.
Conclusion
Energy is essential for a business to operate and, the more your business grows, the more energy you will need. But with so many energy suppliers in the UK, one can get confused on who to choose. That is why it’s essential to follow the considerations above so you can find the perfect supplier for your business.