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Understanding Energy Brokers - How To Choose The Right Electricity Broker

Securing exclusive electricity rates, saving time and simple utility management are the main reasons many businesses choose to use an energy broker. 

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using an energy broker to secure a new deal.

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Understanding that energy brokers are not all the same can make a huge difference to the experience you have with them. This is a guide on everything energy brokers do to help you decide if you should use one.

Why Use A Business Energy Broker?

Using an electricity broker to secure cheaper business electricity rates is a great way to save time. Before brokers, company owners would need to approach a selection of suppliers directly and fill out their usage details multiple times. Even by doing this, they may be missing out on some great deals. 

A broker takes this away by comparing multiple suppliers at once for the best prices. Here are some reasons why a company may choose to use a commercial energy broker.

  • Working with selected suppliers - a good commercial energy broker will only work with trusted suppliers with competitive prices and a great reputation. They have built relationships with suppliers and can generally deal with any potential issues quickly. 
  • Transparent knowledge - a trustworthy energy broker (see their Trustpilot reviews) will be able to share their knowledge on the market and offer advice on tariffs best suited to your business. 
  • Exclusive rates - despite business energy brokers receiving a commission for signing customers up for a new contract, they have access to exclusive prices. Brokers should always be transparent with this. For example, when you switch suppliers with us, we get paid directly from the supplier. You will never be asked to pay us directly, and you will have access to our exclusive customer rates. 

Why Choose Business Electricity Prices? 

Our customers can compare prices and switch entirely online; this is a rare feature in the business energy market. Many other brokers will have a holding page that adds you to a call queue. With us, switch online, anytime and gain access to great rates. 

How Does a Business Energy Broker Work?

A business electricity broker builds relationships with suppliers offering customers an easy way to compare prices from multiple suppliers at once. 

In return, energy brokers will receive a commission on the electricity their customer uses. Your final business electricity quote will always include any commissions with no additional costs or brokerage fees payable. Despite the commission, prices are often more competitive than if you went directly to the supplier. 

You won’t receive a separate invoice for any services provided by your business electricity broker unless you have agreed to specialist tendering products unique to your company.

Business Energy Broker Step-by-Step Guide

Steps Description Link
30 seconds icon. Start with your postcode. We’ll ask permission to look up your meter number and usage data. Enter Your Details
review tariffs. You’ll be provided with a range of tariff options from our database of suppliers.  View suppliers
start saving. Once you’ve selected your tariff, our team sets up your new contract with your new supplier and handles the switch. Start Here

What Services Can a Broker Offer My Business?

Business electricity brokers save time and money when searching for a new tariff. With just a few simple details, you can compare prices from multiple suppliers and start the switching process. 

Other services may include implementing energy management systems, invoice reconciliation, ensuring you have the most efficient meters for your property and general energy efficiency advice.

Summary of Services We Offer

Service Description
1. Wide Comparison of Suppliers in the Market Once you’ve instructed us as your broker, we’ll prepare prices from our trusted panel of suppliers. We have access to live rate-book pricing data to find the cheapest options.
2. Manage Your Switch We’ll handle all the communication with your current and new suppliers. We’ll ensure the switching of contracts occurs efficiently, and that your new bills are accurate.
3. Renewal Reminders All customers are contacted before their contract renewal date to ensure expensive rollover rates are not activated. This timely service keeps you at optimal prices.
4. Management Information To assist with energy efficiency, consumption reduction, and analysis, your broker has access to your usage data. They’ll help you manage your costs with their expertise.

What Do I Need To Know About Business Electricity Brokers?

Deciding to use a reputable specialist adviser can help guide you through the complex market and reduce your energy costs.

As with hiring any external party to help your business, there are benefits and drawbacks to consider.

Benefits of Brokers

The main benefit of using a third party is leveraging their industry knowledge and buying power to help keep your costs as low as possible. There are other advantages as follows:

  • A knowledgeable third party handles all tariff negotiations.
  • The broker switches your tariff to your new provider on your behalf.
  • This process saves you time and money to ensure you’re on the correct rates for your premises.
  • Some companies offer additional services such as invoice validation, carbon offset reporting, management software, and contract reminder services.

Drawbacks Within the Industry

  • Regulation of the commercial side of the energy industry is minimal, although Ofgem has proposed plans to close the gap with the residential sector.
  • No broker can compare every possible supplier and tariff available on the market.

Why Choose Business Electricity Prices?

At Business Electricity Prices, our goal is to make it as simple as possible for customers to switch their energy contracts and make savings.

By choosing to switch your business gas and business electricity with us, you can benefit from:

  • Quick online energy comparisons allow you to view the latest tariff prices in just 30 seconds.
  • Support and advice from a dedicated account manager who can assist with energy efficiency and other utility products, such as comparing business water prices.
  • Check to ensure your invoices are accurate from both a contract rate and meter reading viewpoint, so you only pay for the gas and electricity you use at the prices you agreed to.
  • Advice on changing your meter type to take advantage of evening and weekend tariffs that could lower your bills even further.
  • Advice on reducing your carbon footprint and annual energy consumption for your entire company.
  • Reminders when your new contract is coming to an end with advice on the best tariff prices available to ensure you avoid costly rollover rates.

If you take out a contract using our business energy broker option, the above additional services incur no additional charges.

To begin the process of switching to a cheaper business energy contract, use the quote button below.

 

Business Energy Broker FAQs

  • How Can I Chose a Reputable Electricity Broker?

    There is no official regulator of brokers and they do not need the same licences as suppliers.

    However, reputable brokers should adhere to a code of practice. This should include being transparent about how they work, how they are paid and which supplier they work with

  • Do I Need a Business Electricity Broker to Switch Supplier?

    Businesses can switch their electricity contracts by going directly to suppliers. However, this method could be more expensive and time-consuming as it will be a slow process to individually get quotes from each supplier. 

  • Are Energy Broker Prices Competitive?

    Most small brokers have the same gross pricing matrices provided to them by the energy companies.

    They flex their commissions to provide competitive prices. Some larger brokers may have exclusive deals, including our consultants, who often beat most market offerings.

    To find the latest business energy prices online, take advantage of our broker service by comparing energy quotes online with our free-to-use comparison engine.

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