One of the first things that business owners do to reduce their electric bills, is finding an energy provider which offers lower business electricity prices than their current one.
However, one should not go for the cheaper provider just it saves them even more money. In the long run, the decision on whether to keep your existing provider, or to switch, depends on having to balance between affordable rates, and reliable service.
To help you make your decision, here are some factors that you need to consider when shopping around for your new electricity provider.
- Pricing – There are two methods of pricing available for electricity providers, fixed and variable. Fixed means you only pay a fixed rate for a fixed term, while variable depends upon your frequency of usage per hour for the pricing. While variable pricing offers more flexibility, a fixed rate is best for businesses who consume more electricity per day. It’s best to determine your electricity usage first, and calculate the total price based on these factors, before settling the deal on the electricity provider.
- Reputation & Experience – As previously mentioned, lower price sometimes isn’t the best choice in the long run. The electric company should have a good history of service quality and reliability, which will surely be beneficial to their customers should they run into some problems in the future. A good way to find if an electric company has a good reputation or not, is to ask around for some feedback on their service. Check to see if the electricity provider has been in the business for quite a long time, and is very experienced in the energy industry as a whole. Good electricity service will also help you cut even more costs in the long run.
- Extras & Add-ons – Some electricity providers may provide other value-added services to be part of your overall package. Common ones to note are smart meters, etc. While these extras may seem attractive, you should only avail of these add-ons when you decide that it would be beneficial for your business. Many business owners opt to add these additions to their package, but some are better off without them.
- Practical Rates – Since electricity generation can be considered a form of business, some electricity providers attempt to reduce their rates greatly in an attempt to attract customers. This can be very dangerous in the long run, as the provider may run into some problems because of this, thus disrupting its services to their customers. The key here is price comparison. Don’t limit yourself to just one or two providers, but compare prices from as many as you can, so you can arrive at a decision that you believe will be very sustainable and practical as your business grows with it.
- Green Energy Expertise – With the recent trends of businesses becoming more environment-friendly, it also makes sense to note that your energy provider should also follow in that principle. Having a provider that specializes in green energy can effectively reduce the pollutants being produced, which would greatly contribute to the well-being on the environment.
If you’re still unable to decide as to what electricity company to choose, then consider hiring a reliable energy broker to assist you.