To get a better tariff rate, the recommended option would be to switch your business energy supplier. If you’re operating a large-scale business with a number of different variables and you’re trying to find a better business electricity deal, this can take a considerable amount of time on your part. This is where business energy brokers enter into the picture.
In this guide
What does an energy broker do?
Energy brokers essentially try to secure their customers a better commercial energy deal, in comparison to an individual doing this themselves, by working more closely with suppliers.
Brokers will try their utmost best to make sure their client gets the best deal on the market. If they are successful, they will claim a commission on the energy that the customer consumes.
What is a business energy broker?
A commercial energy broker will compare business energy prices from a wide variety of providers to help their client get the best available tariff on the market.
To save time and money, many businesses will often use a commercial utility broker to get the best deal possible. This in turn will also make the switching process a lot easier too. Large businesses that have half hourly meters will benefit greatly from this.
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What services do business energy brokers offer?
A business energy broker will offer its client a whole range of services. This could be from price comparison of tariffs to helping customers manage how they use energy on a day to day basis. Here are some of the most popular services that business energy brokers offer.
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Whole of market energy quotes
You will have access to pricing from a whole range of energy suppliers when you compare with an energy broker. This will save you a lot of time as you will no longer have to go from one provider to the next to obtain a business gas or electricity quote.
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Management of the switching process
The commercial energy broker will manage the whole switching process for you by getting in contact with your new and existing supplier. A switchover date will be arranged on your behalf as well as ensuring your new bill is accurate.
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Contract renewal reminders
By selecting Utility Saving Expert to help you compare business energy tariffs, we will send you a reminder when your new contract is due to expire, helping you secure the best energy deal available to you. Our free to use tools will make sure you avoid expensive rollover rates and are not overpaying for your business energy in the future.
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Energy management advice
Business energy brokers can also help out with energy efficiency, analysis and reducing power consumption. Through your usage data, the broker will be able to provide expert management advice to help you cut costs.
How to compare business energy brokers
It’s relatively quick and easy to compare suppliers with a business energy broker, as compared to getting one quote after the next.
To start comparing prices, your energy broker will need the following information:
- Your business address
- The name of your existing supplier
- The cost of your average monthly bill
Once you have got this information to hand, the broker will be able to offer you a wide variety of energy tariff options through their supplier database. Next, you will be able to choose the tariff that meets your business needs and either switch online or over the phone.
After making your selection, you will then be asked to sign a Letter of Authority. This essentially enables your energy broker to act on your behalf. The broker will be able to manage the whole switching process by communicating with your both your new and previous supplier.
The advantages of using business energy brokers
When you’re using the services of a third party to assist your business, there will always be a number of pros and cons you need to be aware of. Regardless of if you’re hiring a consultant or contractor, this also applies for commercial energy brokers.
- Gain a better market understanding – You will be able to get a far better understanding of your energy profile and the industry at large by working with a commercial energy broker.
- Industry expertise – You will be given a full breakdown of your energy consumption and the best practices to cut your energy bill costs tailored to your specific business needs.
- Up to date with your contract – The commercial energy broker will make it a top priority that you’re on top of your contract, even though this may not be high up on your to do list. The account manager will ensure you avoid a rollover contract by alerting you before your existing deal comes to an end. They can also advise on whether it’s better for you to renew or switch.
- Saving you time – Time is valuable for any business manager or owner. This is why it’s better for you to focus on your business rather than the energy switching process. A business energy broker will carry out this administration work on your behalf, allowing you to focus on the important things.
- Get the best market rates – Brokers use their working relationships with independent and large suppliers to negotiate the best price on business energy rates.
What else do I need to consider?
A broker will not be able to compare prices from every supplier. If you’re specifically looking for a particular tariff, perhaps a renewable energy option, you will want to make sure beforehand that your broker is able to offer these deals. If you want to find out more about individual suppliers, check out our energy suppliers list here.
Additionally, you will still have to make the decision. If you’re working with a business energy broker, they will be able to compare supplier prices for you. Although, you will need to do your search and select the right broker for your firm.
How does our energy broker service work?
Utility Saving Expert always places the customer above all else, this is done through our second to none customer service pledge. We have made it easier than ever for business energy customers to compare prices and lock in the best deals.
As a result, our commitment to customers across the UK has meant that we have been rated ‘Excellent’ by Trustpilot reviews.
We have ensured that the switching process is easier than ever for your company. Our free to use comparison tools allow you switch online or over the phone.
Energy Brokers FAQs
What is an energy broker?
Energy brokers help business customers buy energy from a supplier/wholesaler. Customers are able to access better rates by using the services of a broker, as compared to getting in touch with the supplier directly. Brokers will manage the whole switching process for you, monitor your energy account, help you reduce your bills and alert you when your existing contract is due to expire.
How many energy brokers are there in the UK?
In the UK, there are more than 3,000 energy brokers to choose from. Although, not all of them are capable of getting the best deals.
If you are looking for a business energy broker, remember to carry out your own research beforehand to ensure you’re only working with a highly reputable broker.
Do you need a license to be an energy broker?
No, you do not need a license to be an energy broker. Brokers themselves are not involved in transporting or distributing energy from production to your building. They focus on the customer and supplier relationship. Business energy brokers are not required to have the relevant licenses that a supplier would be expected to have.
Nonetheless, a broker with a great reputation will follow a code of practice to ensure you get a high quality service and the best deal available to you. You will want to look for maximum transparency on how they operate and what suppliers they have on their panel.
We hope that you have now got a comprehensive understanding on what business energy brokers do as well as how they could help you and your business.
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