Whether your business is relatively new or has been established for a number of years, you will understand the importance of making your money stretch the furthest when it comes to your electricity supply. Utility bills are an inevitable expense for the vast majority of businesses, yet this does not mean you have to spend an enormous amount of money on your gas and electricity supply.

Sometimes shopping around to find the best provider to suit your business is all it takes to dramatically cut down on your energy expenditure and allow you to reinvest cash into your business to where it really matters. But how can you decide which of the many business electricity suppliers is right for you? Here are some tips to select the right business electricity provider.

Firstly, bear in mind that there are many different types of contract available to you and most providers will offer some kind of introductory offer, which is why it is important to shop around and get to know which options are available to you before committing to any kind of contract.

The good news is that energy providers are very competitive amongst themselves, which guarantees you a decent deal. There are often a huge variety of competitive deals to choose from, which gives you the option to shop around until you are satisfied you have the best on offer.

Certain aspects to look at when choosing a new electricity provider are their billing parameters – is the electricity billed per hour? Also look into the contract tariff and electricity rates. Consider whether the starting rates continue for the duration of the contract or if they are simply introductory rates, is this the best deal for your business long term? Also bear in mind length of contract, particularly if you do not wish to be tied down to anything for a significant length of time i.e. if the circumstances of your business may change in the foreseeable future. Look into what would happen if you wished to cancel your contract, is there a contract termination fee?

Once you have identified the best electricity provider for your business, before you go switching over there are a few additional steps to take to ensure smooth and successful transition.

You should take a reading of your meter point administration number and also your meter point reference number, these are unique to your electricity meter and your new supplier will require them during the initial set up process. Also enlist the help of a registered electrician to come and check your electrical equipment has passed all health and safety requirements.

When it comes to finding your ideal business electricity supplier the trick is shopping around and really knowing your options.

Dave MacKinder writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.