Review your energy rates now, don’t wait till the contract renewal time..
To businesses of all sizes, utility costs , for electricity and gas, are a ‘fact of life’. Like paying business rates, or paying taxes. But they do not get the attention they deserve, and consequently most businesses could reduce these costs. Many businesses have a process for renewing these agreements. These processes may include the following.
- Wait until the current supplier advises that the renewal is due, and accept the renewal quotations.
- A certain person in the company has responsibility for this ‘cost’ and uses his or her means of seeking quotations. Probably using the same contacts every time
- The company uses the same ‘third party’ every time to .’manage’ the renewals. This could be a broker, or an individual who ‘knows’ the market.
With most of these options, the timing is a couple of months before a renewal date, or with some smaller businesses, a month before the renewal date. But, there are some supply companies who will quote 6 or more months ahead.
Whatever the timing of your energy contract renewals, get an independent view now. And if the renewal dates are some way off, confirm the date for actioning renewals, possibly 6 months ( or more) before an end date.