Your Business Energy Switching FAQs

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18 Oct, 2021
Category: faq
Reading Time: 7 minutes

Switching your business energy supplier with GEAB not only ensures you get the best deal across utility bills for your business, but receive invaluable help and advice on tailoring the costs of consumption to meet your exact business requirements. Whatever size business or industry sector you’re working in, find all your energy switching questions answered by GEAB:

How do I switch business energy suppliers?

To start the energy price comparison process and switch to a cheaper deal on energy for your business, you’ll need your most recent business gas and electricity bills. Your commercial energy bills will provide your current unit rates and standing charge, along with your annual energy use, meter numbers, current contract end date and the required notice period.

Once you’ve provided GEAB with your latest bills, we can begin researching the energy market against your existing costs, looking into your consumption rates and negotiating with energy suppliers to secure your business the best price per kWh across business energy suppliers. We will then talk you through the best energy deals available, and you can decide what's best for your business.

How can comparing business energy suppliers help my business?

Keeping on top of what you’re currently paying on energy across your business can ensure you keep running costs to a minimum, and don’t end up overpaying on utility bills like so many businesses.

One reason your business can fall into this trap is through rolling contracts, which can leave you paying much higher energy tariffs, if you don't shop around for better rates. This is understandable when you're busy running your business and distracted by daily demands, which is why the Strategic Account Managers at GEAB work alongside your business as experts in the energy market.

Through regular comparison, GEAB do the work to help you save on your annual energy expenditure, and ensure you get the best deals for your business – saving you time and money.

How long will it take to switch my business energy contract?

This depends on the circumstances of your current energy contract, but for customers who are out of contract, this is approximately a 28-day process. GEAB manage every step of your energy switch, informing you of relevant transfer dates and dealing with all admin.

Will my current energy supplier offer the cheapest rate?

Due to fluctuations in the market, this isn't necessarily the case. GEAB would always advise making price comparisons to ensure you get the best deal for your business.

What’s a Letter of Authority (LOA)?

Once you decide on the best deal to lower costs for your business, the next step to switching supplier is to complete a Letter of Authority (LOA). This is a quick form which enables GEAB to act on your behalf, giving permission to end your current agreement with your existing supplier, and liaise with your new supplier to make the switch.

What is an MPAN or Meter Reference Number?

An MPN stands for Meter Point Administration Number and refers to your electricity supply. This is a 13-digit number which uniquely identifies the electricity supply points for your business premises or home address. This is not the same as your Customer Account Number and is sometimes referred to the Electricity Supply Number.

If you change your supplier but aren’t moving premises, your MPAN number will remain the same. You may need to let your new supplier know your MPAN as part of the switching process.

If you move premises, your number will change, and you may need to give the MPAN for your old premises as part of the moving process. Your energy supplier will provide your new MPAN number when you complete the move to your new premises.

What MPRN or Meter Point Reference Number?

MPRN stands for Meter Point Reference Number and refers to your gas supply. This is a number between 6-10 digits which is uniquely allocated and will be required if you intend to change supplier, or you require a first-time electricity connection for your new premises. This is not the same as your Customer Account Number.

If you change your supplier but aren’t moving premises, your MPRN number will remain the same. You may need to let your new supplier know your MPAN as part of the switching process.

If you move premises, your number will change. You may need to give the MPRN for your old premises as part of the moving process. Your energy supplier will provide your new MPRN number when you complete the move to your new premises.

What is a fixed business energy tariff?

Fixed business energy tariffs keep your business energy unit prices the same throughout the duration of your contract. The advantage of these types of contracts, is that they can make financial forecasting and maintaining your budget easier. However, your energy supplier may charge more per kWh as a surcharge for avoiding any price fluctuations across the energy market, and you risk missing out on the benefits of lower prices if the wholesale energy market gets cheaper, until you're able to next renew your contract.

What is a variable business energy tariff?

A variable business energy tariff means the unit price you pay fluctuates in line with the wholesale energy market. The advantage of opting for this type of contract means when energy prices lower, so will your utility costs, but the obvious disadvantage, is that if prices rise, so do your energy bills.

What is a flexible business energy tariff?

These type of contracts are usually offered to larger business organisations, or to those with multi-site premises. A flexible business energy tariff refers to the purchasing of your energy direct from the wholesale market throughout the duration of your contract.

The advantage of this type of contract is that with a flexible tariff, you purchase energy at an optimum time to secure the best price for your business, so unless there’s a crisis in the energy market, and rising prices are unavoidable, you can still get a great deal.

What is a green business energy tariff?

A green energy business energy supplier offers renewable energy as part of your company working towards becoming a sustainable business, which is a growing necessity as we move toward achieving UK Net Zero targets, as well as making you a far more attractive proposition to your potential and existing customer base.

Compared to suppliers who use fossil fuels, green energy prices are sometimes quite high, as renewable energy suppliers need to invest in building more facilities in order to generate the substantial amounts of energy required, and this requirement is reflected in the price. However, in terms of investing in the future of the global energy market, fulfilling environmental obligations, and positioning your business as a green operation, the investment is well worth considering.

What is a rollover contract?

If you don’t renew your energy contract, your supplier will automatically renew it on your behalf. This is a rollover contract, and without intervening to compare prices across the market and switch to a cheaper deal, your costs will often increase without notification.

How do I stop ending up a rollover contract?

Find a better deal and you ensure the best energy prices for your business by working with GEAB. We will do this for you, negotiating across the market to renew your tariff and keep your costs down.

If you would like to find out if you're paying the lowest costs on utility bills across your business, or interested in finding out more about any of the areas covered, please contact the experts at Green Energy Advice Bureau (GEAB) for free advice. Our Energy Experts are ready to take your call 9am-5pm, Monday to Friday on 0800 084 3477.

Frequently asked questions

Do GEAB charge for this service?

GEAB currently follow a clear and transparent uplift model, with the Strategic Account Manager and/or Energy Services Team commission rates embedded into contracts within either the unit rates or standing charge. We fully disclose the margin made by ourselves to all customers at point of sale.

How can you help a multi-site business?

Energy management can be a time-consuming and complex task for any business, but for multi-site organisations with a large portfolio, getting the right energy strategy in place is critical to guarding against significant overspend.

How can I reduce my energy costs?

Reducing consumption across your business can range from making simple changes including installing LED lighting systems and improving heat retention with window film insulation; to implementing half-hourly metering systems and Smart monitoring across sites for greater control and insight into energy usage. GEAB can advise on the most worthwhile solutions for your business. Find out more in our guide 6 Ways to Grow a Greener Business.

How do business energy contracts differ from domestic energy?

Business energy contracts tend to be for a fixed duration usually between one to five years, without the option to cancel early. Businesses can opt into fixed-rate energy contract with GEAB to protect them against changes in the energy market.

What affects the price of business energy?

Several factors can affect the wholesale price of business energy, including the weather, storage, regulatory pressures, crude oil prices, flow and availability, and wind generation.

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