Managing your energy bills is a crucial aspect of running your business. Whether it's electricity, gas or water, left unchecked these expenses can quickly add up and significantly increase your bills month to month.

However, many business owners overlook the importance of regularly reviewing and shopping around for utility providers. Not only can you save money immediately, but you can also set yourself up with favourable rates meaning you can budget more effectively and future plan.

So, when is the best time to do so?

• If you're out sitting of contract: This is the perfect time to evaluate your options and speak to a professional about what contract prices and terms are available. As you're not tied into any contract, you're free to source the best deal for your business which gives you the advantage in any negotations.
• If you're approaching the end of your contract: One of the best opportunities to reassess your energy contracts is during contract renewal periods. Typically, your energy contracts last for a set period, ranging from anywhere between one to five years. As the expiry date approaches, you have the chance to explore alternative options and negotiate better deals. Mark these dates on your calendar and start the review process in advance to avoid rushing decisions.
• If you signed up to a contract in the energy crisis: Across the last few years, there have been many occasions where businesses have signed up to energy contracts that were a lot higher than they were previously. Now that the market is in a much stronger position, it's time to review what options are available to you to source a better deal.
• If you haven't reviewed your contracts for a long time: If you find that you've been with the same provider, on the same contracts for a long time, it's time to review. Your business energy needs may have changed, or you could even be paying more on renewals, so it's important to assess whether your existing contract works for your business right now.
• If you have your utility bills split with multiple providers: If you're working with multiple suppliers across your energy contracts you could be paying multiple management fees. Look at bringing your energy contracts under one umbrella and not only save money - but streamline how you manage your contracts too.
• If you notice additional fees for usage outside your contracted amount: A common theme is that businesses can often go over their designated contracted amounts across their energy usage. These overpayments can be reduced by sourcing the right energy contract for your business.

So when is the time to review?

Now is the time to review.

As with all contracts it's important to regularly review the prices that you're paying to ensure that there's not only an excessive increase, but also that there's no change in terms when things rollover.

What if I'm already in a contract?

The business energy market is very different to the residential market in that you can secure your next contract(s) in advance without affecting your current deal.

This is called advanced procurement and it’s a fantastic tool which allows you to secure today’s rates to come into effect when your current contract ends. This means you can bypass any potential increases.

We are able to procure your contract(s) 12 months+ in advance.

What contract length should I take?

As the market is in a strong position, we recommend that our clients capitalise on this and secure their rates for at least 24 months and wherever possible, 36 months. With the market set to rise once again, longer term contracts will give your business financial security and peace of mind.

Why use Honest Utility Group to secure your energy contracts?

We will help you navigate the market and advise you every step of the way with our expert knowledge so you can make an informed decision which suits your business. We will utilise our direct relationships with the industry’s most reputable suppliers to secure you fantastic prices, providing your business with financial stability.

We pride ourselves in providing exceptional service, not just in helping you secure your contracts, but in what comes next. Our friendly team will support your business with our outstanding aftercare by managing your utilities and being on hand to assist you with any issues, no matter how big or small.

Take a look at our TrustPilot to see what our client’s say about us.

You can call the Honest team on 0191 7208 238 or by emailing info@honestltd.co.uk where our friendly advisors would be happy to provide you with a free consultation to get you the right contract that works for your business.