Business Energy

A guide to dealing with the rising business energy costs

Introduction

The cost of business energy has been increasing at an alarming rate during the energy crisis. However, rather than putting up with rising prices, you can switch to a new tariff and cut costs significantly. If you want to get the best deal on your energy supply, it’s always best to switch providers than to switch tariffs. 

At Bright Utilities, we can get you competitive prices and industry deals to get you the best rate. Below, we will go through the current situation regarding the rising energy costs and show you how you can make great savings!

Business energy costs on the rise

You’ve probably seen a rise in your energy bills, and you might be wondering how to save money on this rising expense. The good news is that there are ways to reduce your energy costs.

  • Switching suppliers: If you’re paying more for electricity or natural gas than you need to, consider switching to another supplier. It’s as easy as filling out one form on our website and we will get in touch with you to get you the best deals!
  • Finding the best deal: You can find great deals on energy by comparing rates from our comparison tool and choosing an option that works for you based on the price per kWh (kilowatt-hour).
  • Saving even more money: You could also get creative with where and when you use electricity on your company premises by taking advantage of off-peak usage times during hours when people aren’t using much power (like overnight). We know for many businesses this may be difficult, but if you can use this tip, you may see some great savings!

Switch UK business energy for a better deal

If you’re looking for a cheaper UK business energy tariff, or want to switch providers, there are several ways in which you can do so.

  • Make sure that your contract has expired. This is because most energy tariffs are not tied to your electricity provider and so if you have an existing subscription with one provider, switching may be difficult or even impossible until your current agreement comes to an end. Even then, there is no harm in getting a quote before your contract has run out in preparation for when you do leave it.
  • Check whether there is an exit fee associated with ending your contract early – many contracts do carry withdrawal penalties if they are cancelled before the term expires (typically 12 months). However, some providers offer free cancellation and may even offer refunds of unused credit as well as incentives for leaving them early (e.g., paying off any balance). You should therefore check what terms apply before changing suppliers as it could impact future costs or charges incurred when switching suppliers later down the line!
  • Get in touch- our team has a lot of knowledge in the industry and could help you when it comes to switching energy providers. It can be daunting at first but with the right guidance, one of our team will guide you through the process, leaving all the stress out.

Protect your business from rising energy prices

If you’re looking to reduce the cost of business energy or find a better deal, there are several steps you can take:

  • Switching UK business energy suppliers often allows you to find a lower tariff that makes sense for your business’s needs. This may mean switching between gas and electricity suppliers, or simply switching tariffs within one supplier’s range. Many businesses fail to realise that they aren’t paying the best price available to them—and it’s worth comparing energy prices with other suppliers before making any final decisions about where your money goes!
  • Looking at green tariffs is another way of saving money on UK business energy costs; these offer lower rates than standard tariffs while simultaneously helping customers reduce their environmental impact through renewable sources such as solar power (which is also available from some suppliers). It’s important not just because it helps save money in the short term but also because reducing carbon emissions now will help protect our planet for future generations!

Businesses in the UK are facing higher energy costs at present. The easiest way to reduce your costs and stay safe is to switch to new tariffs.

The best way to cut your business energy costs is to switch tariffs. By using a comparison site like Bright Utilities business energy, you can switch tariffs easily.

We at Bright Utilities have access to all competitive business energy tariffs, so we can find you the cheapest one for your business.

Conclusion

In conclusion, it is vital that business owners take this advice seriously and switch as soon as possible. The longer you wait, the more difficult it will become to avoid paying high prices for your business energy. You also might miss on some great deals as the cost of UK energy prices rise even more as time goes on. Get in contact with us today to see where you could make some huge savings.

Your comprehensive energy guide if you decide to move premises

When is the best time to move premises?

We understand there are many reasons why businesses move premises. From company growth to expiring leases, or even a change in circumstances. Whatever reason you have, moving premises, and energy suppliers, has never been easier.

On most energy supplier websites you will find a range of resources that will provide you with extensive information about your particular situation. With this guide, you will be prepared with the information you should acquire before you make any drastic decisions.

Many reasons for companies to move premises are out of their control, especially for changes in circumstances or rapid company growth. But we want to reassure you that, you will always be in charge of your energy supply, whatever the circumstances. 

What happens to your energy contracts when moving business premises?

There are multiple ways your energy suppliers can move your contracts when you move business premises. You should see in your contract how much notice you need to give your supplier so they can make arrangements about moving your supply from one location to another or help you with the exit period of your contract. 

If you haven’t made arrangements with who will be supplying your business when you move, you will typically take on the pre-existing supplier with the site’s rates. If you’re wanting to save money, it’s always best to avoid this because if it’s not a fixed-term contract, you may be paying for more than you need. 

Depending on the notice period you give to your energy supplier, they may offer you the chance to nd your contract earlier than previously agreed. Those running businesses that have to relocate because of changes in their circumstances may benefit from this. 

However, in some circumstances, energy suppliers are willing to help you move your supply to your new premises. If this is the case, they should provide you with a dedicated team that should help switch on the day to make sure it all goes smoothly. We cannot stress enough the importance of contacting your supplier when moving your business’ location in order to make sure you both know what is happening.

How can you prepare yourself for the move?

Being prepared for a move in any situation can benefit you hugely, making the whole process as smooth as possible. The first thing you should do is go through your energy contract so you know how your change will affect you. 

As previously mentioned, you should contact your energy supplier so you can get any more crucial information, as well as let them know what will happen to your bill. Your contract should state either your contract changing period or the notice period you should give to your supplier. Knowing all of this information will help you make plans in time for the move so you can get the best deal.

Calling your supplier can also help clear up anything you may not fully understand in your contract. Even though they’ll be sad to see you go, it is also their job to help you as much as possible, so making contact will benefit you both. 

Depending on whether you were happy with your energy supply during your contract, it may also be worth looking at energy provider comparison sites. The solution that works well for one of your locations may not work for the other, as many factors can affect your monthly bill, especially if you’re moving locations since postcodes can affect what you pay.

By making sure you’re best prepared for the move, you will save yourself not only lots of hassle but maybe some money as well!

What will you need to have when you move?

When moving premises, there are some things you need to keep at hand to keep everything accurate and running smoothly. 

They are:

  • Your energy account number
  • Your final meter reading (sometimes you may have to provide one on the last day on the site)
  • Your site’s lease’s contract termination date
  • The address of your new premises
  • Sometimes, you ma need to provide the details of the business or company owner moving into your old site

Moreover, when switching, your supplier should make you aware of what you need to help make the transition easier. These are some of the main aspects you should consider when moving to your new site. Whether you are at the beginning of your move or closer to the day, having the right information can go a long way.

Fees to look out for:

Despite there being many measures in place to protect company owners when moving sites and their energy supply, the process is not short of possible fees that may crop up that might give you unnecessary stress. 

Here are some of the main fees you may encounter upon moving sites:

  • Reconnection fees: if the previous tenant had their supply disconnected, you may need to pay a connection fee and a security deposit when you move. 
  • Connection fees: In the event that your new office has never been connected to business gas or electricity, for example, you might have to pay a connection fee.
  • Early termination fees: You may be charged an early termination fee if you move into a new property before the contract at your current one has ended. Your contract will have the details about your energy supplier’s cancellation fees, so it’s best to get clued up before making any decisions.

Other questions: answered

  • What if I’m a tenant? 

It’s always best to read your lease contract to see who is in charge of your energy supply. In the event that your landlord has power over this, it is likely that you will have to set up your own connection for when you move to your new premises as you cannot carry over the connection. In an instance where you may still be at your premises, you may be able to negotiate with your landlord to come to an agreement on a better energy rate than your current one. If you are moving to a new property where the landlor is in charge of the energy supply, make sure you’re not paying energy for lighting for your business before signing anything. 

  • What if I’m based at home? 

You shouldn’t be on any business energy tariff if you’re based from home and your energy supplier can give you the best information about moving to a business site and what that means for your company.

  • What if my supplier goes bust?

Luckily, Ofgem have a system in place that helps businesses and homes who are affected by their energy supplier who has gone bust. If this is the case, you are moved to another supplier on their average rate, and are alerted via post when this happens. This gives you freedom to change supplier. As always, we advise that you take a look at your new supplier to see how you can move premises best. 

Take a look here for more information about what support you can get:

https://www.ofgem.gov.uk/information-consumers/energy-advice-households/what-happens-if-your-energy-supplier-goes-bust

How can Bright Utilities help you?

Sometimes moving business premises means that you are losing out on the best deals and you won’t realise until it’s happened. 

At Bright Utilities, we can offer you extensive comparisons to give you the best value for money. Our experts have inside knowledge about the various ways you can save money through your energy bills. 

Whether you are moving your business’ premises or not, we are committed to giving you the best prices for your energy needs that remain unmatched! 

Remember that knowledge is power.

Corporate social responsibility strategy

What is corporate social responsibility?

Corporate social responsibility (CSR) is the practice of businesses giving back to the community. Be it through environmental, social or economic initiatives that they implement whilst upholding the quality of their brand. Some business owners see this as a radical self-regulation policy as many companies would please their shareholders over other constituents throughout a company’s lifespan. 

With the increase in the use of social media and digital marketing, it is harder for businesses to get away without being in the spotlight. These platforms make it a lot easier for new and existing customers to see the company’s corporate social responsibility through the posts they make and share. This is because corporate social responsibility has been seen as more important by customers in recent years.

Most companies demonstrate their social responsibility through ethical and sustainable ways, such as championing human rights for minority groups and showing everyone the ways in which they save energy. 

However, there are other ways businesses can improve their corporate social responsibility, and the definition varies from each company. For example, some businesses celebrate innovations when it comes to their most-loved products whilst maintaining the brand’s value. Most companies that implement corporate social responsibility strategies have grown their businesses so much that they can afford to give back to society.

Examples of Corporate social responsibility:

  • Starbucks: By 2025, the company wants to reach 100% ethically sourced coffee, create a global network of farmers, plant 100 million trees and develop a global network of farmers, according to its 2020 Global Social Impact Report. Contributing millions of hours of community service, providing a groundbreaking college program to its employees, and pioneering green building throughout their stores are also in their strategy. 
  • Rolex: Four years in a row, Rolex has been ranked among the top 10 most reputable companies in the world. By anchoring its values in high-profile personalities, the brand can create an emotional connection between its products and its company. As an example, Roger Federer is regarded by many as an icon of excellence (Rolex is well regarded for its quality of products) and resilience. 
  • The Lego Group: Lego is in the top 10 list of most reputable companies in the world for the third consecutive year. Its holistic storyline based on sustainability, education, and societal contributions already has a steady and strong presence in Denmark and around the world. They recently began using sugarcane plastics as a replacement for plastics derived from petroleum. This is another example of how the company is promoting CSR values.

The importance of corporate social responsibility:

According to The 2015 Cone Communications/Ebiquity Global CSR study, an astonishing 91% of global consumers expect businesses to have responsible operations that address social and environmental concerns. And, a further 84% say they seek out companies who take accountability and are transparent when buying products wherever possible.

If anything, the pandemic has shown us that companies need to look after everything their business is tied to in order to attract and maintain relationships with their customers. These figures can only prove the emerging importance clients place on the business’ corporate social responsibility. 

It is very important for growing companies to express these practices they are carrying out early on as they can reach more people who are interested in ethical practices. Many business owners believe that by having a corporate social responsibility strategy, it can help them beat their competitors. Although the strategy needs to be sustainable otherwise the company may take more losses than gains. 

Through a successful corporate social responsibility strategy, a company can raise the visibility of their brand in the community and attract new clients. Which is why it is important for businesses to make one and stick to it so they can yield results.

The impact of CSR:

The consequences of having a corporate social responsibility strategy are mostly positive for companies. Making a partnership with overseas or startup companies can help them reduce spending and reduce risks. This has been seen through companies such as Cabury’s here in the UK who partnered with Fair trade to ethically source the cacao for their chocolate bars.

By partnering with sustainable companies, your business can also be certain that you will be investing into your own business’ future-proofing. By investing in sustainable businesses, you will also be investing in sustainable economies too, which can trickle into the wider economy, something we all need to make an effort with as we move to renewable energy practices. 

Many companies have adopted measures to reduce their environmental impact, such as installing renewable energy sources or purchasing carbon offsets, to improve the sustainability and efficiency of their operations. 

Lots of companies also now have specific pledges available to view against modern slavery and unethical production practices, which also inlcudes child slavery. This is because corporate social responsibility strategies included multiple practices to manage, such as the supply chains, and not just the company’s branding. 

Employee engagement is also improved when a company has a good public image. You’re also more likely to attract and retain the best candidates if you demonstrate that you care about social issues like human rights.

Company tips for Corporate Social Responsibility

Many modern businesses have an employee handbook which outlines the ways the company looks after it’s employees. However, it is a great place to outline the business code of ethics which your company should look to create. A business code of ethics outlines employee conduct concerning ethics, values, environment, diversity, employee respect, and customer service.

Establish policies and practices that allow your business to comply with its environmental commitments. For example, you could produce a report documenting your company’s environmental activities and results. Many big companies have been known to share this information with everyone to show their transparency and commitment to saving the planet.

Make sure you use marketing techniques that reflect your company’s integrity and are fair and honest. Avoid any advertising that could be construed as manipulative or detrimental. Some companies have been caught out by this in their environmental pledges. Greenwashing occurs when a business brags about its green practices while still engaging in harmful practices.

It is common for manufacturing companies to donate to communities where they have sites, as a means of giving back to society and promoting the values of their brand. And others give back to the wider community, for example, here at Bright Utilities, we are partnered with the International Tree Foundation as we plant 10 trees for every switch we help happen. 

Little changes such as these can help your business expand and gain more attention to help it grow in a positive way that gives back to everyone else! Everyone’s a winner!

Ofgem: The energy regulator

Who is Ofgem?

The Office of Gas and Electricity Markets (Ofgem) is the government’s Regulatory authority for the UK’s electricity and downstream natural gas markets. They also work with industry and consumer groups to help carry out the government’s net-zero goal whilst keeping costs low for energy buyers. 

Another main aim they have is to keep energy companies in check to protect consumers and to make sure that the energy suppliers themselves don’t go bust. This is to maintain the success of the energy market, especially with the current energy crisis.  

They work closely with the UK government to ensure these practices are upheld as they exert their powers within a statutory framework. 

What does Ofgem do?

For both homes and businesses, the regulatory authority encourages a value for money approach to gas and electricity supplies with ample stockpiles to keep up with demands. Additionally, Ofgem also encourages energy conservation, protects vulnerable consumers, and supports the improvement of the environment as a whole. 

Ofgem does this by eliminating bad practices and ensuring just treatment for consumers, particularly the most at risk. This facilitates competition and innovation, resulting in lower prices for consumers and new products. 

They promote government policies to ensure that the government meets their targets, such as the decarbonisation goals for 2050. The regulator does not have any executive power to enforce their own policies, however, they can make the government aware of any gaps in the consumer market if they see any. 

Moreover, Ofgem has the authority to carry out company investigations where they see fit. Recently, they implemented new policies to enforce that newly created energy companies are future-proofed throughout their growth, to prevent them from going under. This new regulation has arisen due to the ongoing energy crisis in the UK that has affected millions of customers. 

How is Ofgem run?

Ofgem has been a necessary tool for the government to maintain the efficiency of the electricity and gas sector since they were both privatised in 1986 under the Thatcher government. 

They are run by the Gas and Electricity Markets Authority (GEMA), which is made up of non-executive and executive members with a non-executive chair. 

GEMA enforce these orders through the various acts set out by parliament, they are as follows:

  • Gas Act 1986
  • Electricity Act 1989
  • Utilities Act 2000
  • Competition Act 1998
  • Enterprise Act 2002
  • measures set out in a number of Energy Acts.

All of these acts are there to protect both energy utility consumers and the suppliers themselves, as these are the statutory framework that Ofgem operates in. 

They are totally independent of the companies we regulate, and they recover our costs from the licensees we regulate. They require licensees to pay an annual fee that covers our costs. 

What this means is that Ofgem is funded through the companies they work with, meaning that the money they receive is circulated back into the protection of those energy providers.

How can Ofgem help me and my business?

Their site offers unbiased, expert information covering a variety of topics, including helping you to understand your energy bills and switching to a more affordable deal as well as guidance on generating renewable energy. Additionally, it features articles about government and social schemes, such as Feed-In Tariffs and Renewable Heat Incentive programs.

If you have a complaint about your energy bill or provider, Ofgem provides reliable guidance on what to do. Although it doesn’t directly deal with disputes, Ofgem collects information about complaints and monitors the markets to ensure that licensed companies are providing reliable service.

This helps their reliability as an organisation and validates their commitment to helping energy consumers and providers within the UK energy market. 

Even though you probably have no direct contact with Ofgem, its work in tracking complaints, setting price caps, and overseeing government and social programs benefit energy customers every day. 

The firm can help you massively to ensure your energy and gas providers are complying with current government laws and regulations to offer you the best service possible. By dictating what information must be provided on energy bills, Ofgem also ensures your energy supplier makes sure you receive your bill in the best way possible.

Ofgem works closely with Citizens Advice and the Energy Ombudsman, to make sure that individual complaints are handled correctly, as they can’t deal with them themselves. Ofgem can only adhere to government orders and therefore can only investigate complaints that go against the regulations and affect many customers.

Among the duties that are set for energy companies are ensuring they follow the rules of their license and the laws governing them. For example, consumer protection laws and competition laws. The company’s rules require fair dealing.

Because of the corporation’s powers, they can carry out directions or orders ending a breach or correcting damage. As well, they have the executive power to give out penalties, commitments, and financial obligations related to actions or future conduct. 

Ofgem’s main objective is to maintain the energy regulations of government orders to help protect consumers whilst helping the government to accomplish its decarbonisation goals. We recommend giving their site a once-over to see the other ways Ofgem is working hard to help you and your business with your energy and gas supplies.

Visit: https://www.ofgem.gov.uk/about-us/our-role-and-responsibilities

Utilities challenges for Companies

What utility challenges mean for businesses

Companies have been caught between a rock and a hard place in recent times with the increasingly worrying energy crisis and the uncertainty of the coronavirus pandemic. The government has recently paid out £1 Billion to businesses across the country to help protect them from further restrictions and low footfall due to high omicron case numbers. However, most businesses do not feel that their fair share is enough to help cover increasing utility costs. 

Annamarie Andrew, a publican, said the £6,000 one-off payment to businesses “won’t even cover my utilities for a month”.

Highlighting the necessity of government help and guidance to companies up and down the UK. 

Despite this, Boris Johnson has announced that he plans to increase National Insurance in 2022, meaning that already struggling companies will be hit with more price increases throughout 2022. 

In response to soaring wholesale prices that are driving dozens of energy companies out of business, Energy UK is calling on the government to intervene to help reduce bills. They have met with the government and have dealt with the high demands of concerned customers who are still uncertain of the nature of the energy crisis. 

The wholesale price of gas has quadrupled since January, and the price of electricity has more than tripled. Which we imagine has caused reasonable distress for homeowners and business owners alike. By April 2022, wholesale energy prices could increase by 50% more, and we will continue to offer support to our customers throughout the year as we gather more information about the escalating disaster. 

What this means for you and your company is there will be rising costs to your energy bills, in and out of your home meaning your business will be affected as well. Energy UK is committed to meeting with the government to make sure no one misses out. In addition, there are tireless efforts being made by service providers who want to help offer support for companies since the government is helping less and less.

Since we are advocators for green energy, we believe the best way to solve this issue is by switching to renewable energy, eliminating the need for outdated gas resources. Gas has been the biggest contributor to the energy crisis as most of the finite resources are controlled by a select few companies, such as those in Russia. With those in Europe confronting the current crisis, the resource makes up a fifth of the continent’s power supply. 

President Vladamir Putin has faced criticism from European politicians for limiting gas supplies to pressure the continent to approve a new gas pipeline, however, this is not proven.

Due to this speculation, it is likely the gas supply chain is to be blamed for the current predicament Europe has found itself in. However, it is believed that the UK uses more gas than coal, so the transition may still take some time. But we want to reassure companies of big and small alike that the transition to green energy is taking place, and that the problem shouldn’t last for decades. 

No matter if you run your business from home or have a commercial property on a business tariff, your energy bills will likely increase in the coming months.

Our experts understand the turbulent nature of the energy market and the utilities businesses heavily rely on. 

Unfortunately, the biggest contributor to company struggles regarding their utility bills is the pandemic, exacerbating issues such as staff shortages and little to no relief from the government as stay-at-home mandates dominated the 2020 working environment. 

Since the need for more office space is competing with people’s homes, many businesses have had to make tough decisions or face bankruptcy in the last two years. The added pressure of the energy crisis and the uncertainty of the latest case numbers are showing that many enterprises are facing more issues yet again. This is also due to the increase in lack of funding from the government as they try to navigate a pandemic-free society, despite the fact we are not out of the woods yet. 

Other sectors such as the travel industry have taken a lot of the brunt of the pandemic’s issues with being less environmentally friendly than other sectors, while trying to navigate many different COVID-19 restrictions in various countries, they also experience staff shortages and revenue losses.

It is no surprise that many industries and businesses are going through a hard time at the moment, we want to reassure you that you can get the help you need to keep your energy bills down.

What we can do to help?

There are a number of services we can provide for your business from our experts that can help you navigate this difficult period for running your company and its utilities. With our recommendations, you will have the assurance that your energy supplier will not go out of business, contrary to some other companies we’ve witnessed go out of business in recent months. 

We can offer you companies that mostly use renewable energy as we understand the importance of keeping on top of your energy sources and knowing where they come from has never been so vital. The providers we suggest and compare against each other usually have tariffs and billing to suit your needs, as we know many businesses pay excess on their bills, an issue we want to fix for you. 

Whatever issues you are facing as a commercial or industrial business owner, we want to keep you informed on any changes to your utility bills. We will continue to use our industry expertise to offer you guidance and the best deals meaning you will not have to worry about your utility bills. 

Facts and figures are from https://ig.ft.com/europes-gas-crisis-pipelines-explainer/ 

Business energy made simple

See how much you could save in 60 seconds.