Considering 2018’s energy market, the energy suppliers have drawn flak for their recent decisions to increase energy prices. The cost of living continues to get more and more expensive as the year goes by. Fuel and energy prices are not new to price increases, but recent advancements do show that there’s an unfavourable position for consumers to keep up with the bills. Because of this, a number of clients have decided to make a switch from their previous suppliers in the hope of grabbing a favourable deal in this fast-paced market. Here are a few steps that you might want to take note of before deciding that switching is the best choice for you.
Be familiar with the news about the market
Any slight movement in the market from oil refining prices to transportation costs can prove to be detrimental to the energy market. One of the bigger movements that you should be aware of is the recent movements of British Gas and how it’s affected 2018 so far.
British Gas recently made a 5.5% increase in their prices which has invited other companies such as EDF and Scottish Power to do the same. What this means for the energy market is that they’ll be given more of an incentive to raise their prices as competitors have done the same, leaving the deadline for making the switch as a dangerously small window of opportunity.
Get a second opinion
With the internet at your disposal, there is a wide variety of ways to access information about energy suppliers. From Centrica, the owner of British Gas, and its current business plan of letting go of 4,000 employees, to the rising manufacturing costs of oil refiners, every tidbit of information contributes to what a company’s actions will be for its business endeavours. News sites and forums online are helpful in figuring out whether a company is in a rut or in favourable waters.
If you’re having a hard time deciphering how the news can affect the company’s rates, price comparison sites like Utility Bidder give good indicative quotes and price comparisons with other energy suppliers. As they can manage the negotiations for you, it’ll be easier for you to make the switch considering your business expenses and needs.
Pack your things and save the date
If you’ve finally decided to look for greener pastures, it’s best for you to take note of where and when you’ll be making the switch. Business owners typically make the switch only when their contracts are about to expire, but it’s advised that you start looking for an alternative supplier at least six months before so that you can negotiate without the hassle of a deadline looming over your shoulders. If negotiations go fairly well, you’ll be able to negotiate a fair business tariff rate for yourself before things get much worse for the energy market.