Yes. When your contract is up for renewal it is the perfect time to shop around to get the best deal. You can:
1. Switch suppliers
Deals vary greatly between suppliers. It’s important you shop around. Ask your supplier for their best possible deal, and then contact other suppliers (external link) to see if they can make you a better offer.
2. Switch tariffs
You could pay less to use electricity off peak hours. If this is an option for your business, ask potential suppliers about switching to a time-of-use tariff to see if your business can make the most of off-peak deals.
3. Shop for agents
Suppliers employ ‘agents’ responsible for reading your meter, collecting data, installing and maintaining your meter and aggregating your data. Although suppliers will appoint agents on your behalf, there’s no reason you can’t appoint your own instead.
Shop around for supplier agents (external link): look for those that are half-hourly qualified, marked as HHMOA, HHDC and HHDA to see if you can find cheaper prices.
However, you should check the contract terms, for example the length of contract, to see it matches with that of your energy supplier.
4. Check your Maximum Import Capacity (MIC)
For businesses with a current transformer (CT) meter only.
The network operator will charge you a maximum import capacity (MIC) charge for the space it’s reserved you on the network. If you think this is too high, contact your distribution network operator (external link).
