Brokers work in various fields to help businesses and other customers to negotiate the best prices for services, and the rising cost of electricity and gas has seen an increase in the number of firms hiring brokers skilled in the energy markets.

The fees involved in hiring brokers means this option will not usually be practical for domestic energy customers looking to save money on their gas and electricity bills, but for larger companies that operate numerous electronic devices in one or more premises, brokers can be the key to obtaining a more cost-effective rate for energy and reducing overheads.

Generally, if people working in your company have the time, resources and skills necessary to carry out independent research into the energy market, this could be sufficient for allowing you to negotiate a price you are happy with for your business electricity tariffs. If you have been with the same company for a number of years, this could also put you in a better position to begin negotiations, with the best possible outcome being a fixed rate tariff at a reasonable rate to offer greater financial security for the future, without having to worry about fluctuating energy prices.

Fixed rate tariffs may not always be the most cost-effective option however, and this is where the knowledge and experience of brokers can come in particularly useful - as brokers who specialise in the gas and electricity fields should be able to offer impartial advice on whether prices are expected to continue increasing in the near future, or if setting a fixed rate for your business energy tariffs now would mean you are likely to pay over the odds as market prices fall.

Some brokers also have special arrangements with certain energy suppliers that can be mutually beneficial to all parties concerned, and which may allow business customers to access special discounted rates that would not otherwise be available through independent negotiation. It's important to carry out your own research and compare electricity prices from different companies before making your decision however, to check whether the broker is truly offering you the best deal available, or if you could benefit from cheaper rates elsewhere.

If you're keen to keep a close eye on your company's electricity usage, there are also advantages to hiring brokers for longer periods, especially if these firms offer services such as utility bill auditing and quantitative analysis to keep your company informed of the latest developments in the energy markets and how these affect your bottom line.

Fiona Roy 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.