When choosing an energy plan for your business, price is often the first and undoubtedly most important consideration. But when there's very little price difference when reviewing providers, how do you compare?
There are several aspects beyond price that impact the value and benefits of an energy plan. These include:
1. What contract lengths are available?
Short-term contracts offer flexibility but may leave you exposed to higher rates, while longer-term contracts can provide price stability and potential savings, so it's worth assessing the ideal needs and preferences of your business. Case in point: the energy regulator approved a wholesale energy price increase of 14-28% for commercial customers, effective 1 July 2023. Those businesses that locked-in a fixed price energy contract through to the end of 2023 or beyond, are quarantined from these price increases for at least a short period.
2. Are there renewable energy options?
Where your energy is sourced from is a key consideration, especially for those who have sustainability baked into their core values. Choosing a plan that incorporates renewable energy (such as wind or solar powered energy) can help achieve company-specific sustainability goals, and also acts as a broader contribution towards the growth of clean energy infrastructure.
3. What energy-saving tools or resources do they offer to reduce energy consumption?
These can include energy audits, energy management systems, real-time monitoring tools and expert-led tips on how to improve energy efficiency. Choosing a provider that actively promotes energy conservation not only benefits the environment, it also helps your business save money.
4. What billing and payment options are available?
Do resources like online portals and mobile apps rate highly for you, as they allow easy access to billing information, usage data and payment methods? Do you prefer automatic direct debits or regular “bill smoothing” payments for convenience, predictability and simplified bill management? Consider what’s on offer from each provider, along with payment terms (which might range from 7 days to 30+ days) in the context of your business’ cashflow.
5. Are there fees or discounts for specific payment types?
There can be cost savings around payments with the right energy provider, so look for plans that align with your preferred payment methods. For example, you might benefit from pay-on-time discounts, or if you typically pay energy costs on a credit card, check the fees and charges that apply to these payments.
6. Does the plan suit your business needs?
Different energy plans come with varying levels of flexibility and additional options. While some plans allow for changes in usage patterns or offer off-peak rates, others include rewards or loyalty programs. Assess your business’s energy consumption habits and determine which plan aligns with your needs and priorities.
7. How much does customer service and support matter to you?
Look for providers with a reputation for responsive customer service, clear communication channels and reliable support. Efficient customer service can make a big difference when it comes to resolving issues, addressing concerns or assistance with billing. First bill Campaign – You might have missed the letters in the mail. It’s not too late. We can organise a new offer for you and backdate that offer to the last read date and it might save you hundreds.
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