At Bristol Energy we know that large energy bills can break small businesses. And falling onto a ‘deemed rate' is what happens when you allow your negotiated contract rates to expire.
So what do you need to know to make sure you're not losing out?
1. Check your contract
An out of contract or deemed rate can be as much as 80% higher than negotiated rates (Ofgem). So, it pays to do your research. And it pays to switch.
This is what can happen if you allow your business to default onto "deemed" rates*:
An average negotiated
price = £1,767
50% higher deemed rates = £2,650.50
Your saving = £883.50
Even if an energy price cap is extended to microbusinesses, to potentially limit these deemed rates, it will still be beneficial to seek out a fixed deal.
2. Don't get stung by unfair contract terms
More than half of the UK's SMEs have been stung by unfair deals (Federation of Small Businesses August 2016). This has cost small businesses nearly £4 billion in the last three years. This could include suppliers tying businesses into lengthy notice periods, failing to make auto-rollover clauses clear up front, or charging high early termination fees.
3. Give your business an energy health check
Making sure your business is energy efficient will also save you money. It sounds obvious, but things like upgrading your old appliances, draught-proofing, and switching to energy saving lightbulbs like LEDs can make a difference to your overheads.
4.Shop around
Bristol Energy was set up by Bristol City Council to offer people a fairer deal for their homes and businesses. And we will reinvest our profits back into the community. By keeping our prices competitive and offering fixed contracts, we can protect our smaller business customers from the vulnerabilities in the energy market.
We also understand just how precious time is! So we've launched a simple online quoting tool. It takes just a few minutes to get a quote. We'll also send you an electronic docusign signature, so signing up is easy.
Don't just take my word for it - Bristol Energy business customer, Roll for the Soul, a Bristol Community Bike Café, had this to say about their recent switch to Bristol Energy: "For a small business, it's important to find savings wherever you can, and Bristol Energy could provide a cheaper deal than our previous supplier. But it was also important to us that we avoid the big six energy companies."
For some useful SME Energy Efficiency tips, please visit our website
* We used an estimated annual consumption (EAC) of 15,000 kWh pa and the latest Department for Business, Energy & Industrial Strategy (BEIS) Quarterly Energy Prices for "Small" businesses (published 31st March 2017) of 11.78 pence per kWh.
