Energy rates are currently at an all time high. If your business consumes a lot of energy, it could be vital to find the best energy deal. But just where do you look to find the best rates?
Using an energy broker can be one solution. These are professionals that can help shop around for the best deal for you. Many businesses find it convenient to use a broker – but is a broker always the best solution? This post takes a look as to whether you should use a broker or not.
Finding the best energy plan can be a time-consuming process. While there are many comparison sites out there that can compare prices, you can often negotiate cheaper plans by ringing up energy providers and talking to a sales representative. Not everyone has the time to do this with multiple energy providers, which is why an energy broker can be useful.
There are many different energy providers to choose from in the UK, and each one offers a range of different plans. On top of regular mains gas and electricity, some companies can also offer renewable plans and even installation of solar panels for generating your own power – which could be useful if you want your business to meet low emissions targets. Energy brokers will know exactly where to look to help you find these deals.
If you’re willing to spend time shopping around and are willing to do your own private research into energy plans, you may not need a broker. However, if your company doesn’t have the time or the patience, it could make sense to rely on a broker.
Be wary of commission charges
Many brokers will charge you a commission fee for their service. It’s important that this fee is not too large – there’s no point in a broker finding you a super cheap deal if they’re going to add a hefty fee to it.
The base rate is typically 0.05p per kilowatt-hour, however some brokers have been found to charge as much as 5p or even 10p per kilowatt-hour. In the latter cases, 50% or more of your total energy bill could be going to the broker, making it a complete rip-off.
Commission fees should always be disclosed in a contract before you agree to use a broker’s service. Some companies have been found guilty of charging hidden commission – which over several years can add up to hundreds or thousands of pounds. It’s possible to file energy claims to get back this money if you suspect a broker has not disclosed commission fees. Legal services can help you with these claims.
Use a trusted broker
It’s worth doing your homework in order to find a trusted commercial energy broker. By reading online reviews and looking out for negative press, you can avoid brokers that have a poor reputation and find the right services.
This guide compares 6 of the UK’s most trusted energy brokers. It could be a safe option to use one of these companies rather than looking further afield.