Utilities – Three Things to Know

As a new tenant in a commercial property there are a few things you should know about your utilities so you don’t end up on unnecessarily expensive rates. This article will help you navigate the perils of the energy market like a pro so you’re able to focus on what’s important – your business!

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You’ve found the perfect commercial property, the paperwork has been finalised and you’re looking forward to getting in and getting set up. As a new tenant in a commercial property there are a few things you should know about your utilities so you don’t end up on unnecessarily expensive rates. The following will help you navigate the perils of the energy market like a pro so you’re able to focus on what’s important – your business!

If you are responsible for your energy bills, you need to arrange contracts for your gas and electricity as soon as possible

When you move into a new property without arranging a new energy contract, you will pay for the energy used on ‘deemed’ rates and these can be more than double the cost of those you could be paying with a contracted energy deal. It’s imperative that you agree a contract for your energy supplies as soon as you can, otherwise you could be faced with some sizeable bills for your gas and electricity.

Beware of cold calls

You’re about to receive cold calls at a rate that will have you cursing Alexander Bell for thinking up the idea for such a communication device! Many of these calls will be energy sales agents trying to be first in line to sell you an energy contract. Whilst this might seem like a good thing and allows you to tick something off your ever-growing list of things to sort out, please beware. Avoid being pressurised into agreeing a contract verbally over the phone just to get rid of them as there is no option to cancel once you’ve agreed the contract, you are legally locked in, and often these verbal contracts are expensive.

Use a recommended Energy Broker

Using the service of a good energy broker/consultant is invaluable - the energy market is complex and hard to search for comparable offers between suppliers, with 86 active energy suppliers in the non domestic market as of June 2019*. A reputable energy broker will provide impartial advice and expertise and build a relationship with you, taking the pain out of the tender, contracting, switching and ongoing processes, allowing you to enjoy savings and less administration.

*source: OFGEM State of the Energy Market Report 2019