Inprova Energy

Three things to consider when choosing an energy partner

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When it comes to choosing an energy partner, how do you make sure you’ve made the right choice?

They come in all different shapes and sizes – knowing which one to work with really will depend on your business and your needs. To help, here are three things to consider when choosing a new energy partner for your business.

1. Independency

A  survey by Cornwall Energy uncovered that 37% of businesses thought their energy advisor was providing a free service. Yet if an energy advisor makes a big deal about their service being ‘free’, there is a good chance they are hiding something.

Energy Advisors that are aligned with suppliers often receive commission for passing on business, hence the questionable claim that their service is ‘free’. 

Commissions usually arrive once particular sales volumes are achieved, and that can lead some energy advisors to chase numbers rather than provide an independent service.

The general rule is to seek out a fully independent energy partner that has a significant number of suppliers on its books. That will ensure there are no allegiances to worry about and the energy advisor will be more focused on finding you the best deal as opposed to hitting monthly sales targets.

2. Proven reputation

New companies are entering the market place all the time. While you shouldn’t ignore them entirely, it pays to seek out a partner with a proven track record.

Look out for the following signs to ensure you get a well-versed and highly-respected energy broker:

  • well established with good reviews
  • staffed by people with significant experience of the energy market
  • a website packed with testimonials and news of a growing client list 

3. Relevant product range and clear fees

Energy management extends far beyond the initial procurement process, therefore when choosing an energy partner, you need one that offers a wide range of services geared towards assisting you after your contract is in place.

Your chosen partner needs to have a broad understanding of the market and the ability to assist you with anything relating to your energy contract and management. Spend time reviewing the services offered by the partners you’ve shortlisted.

Pay attention to how clear their pricing is. If the fee structure is unfathomable, they may be hiding something. Your broker must offer you a transparent, clear breakdown of every fee you’ll end up paying.

Just remember to run each broker's  fees against those of suppliers. That way, you’ll uncover any hidden commission charges. 

Summary

To recap, your chosen energy partner needs to be fully independent, able to demonstrate a great track record and offer a comprehensive range of services with transparent fees.

Approach your search with the above mindset and you’ll find a trusted partner that will work hard to give you the best possible contract.

Download Inprova Energy's free e-guide 'Go it Alone? Or Do You Need an Energy Advisor?'

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