Comparing Energy Renewal Offers
When you’re ready to renew your electricity contract, there are several things you need to know when comparing renewal offers from energy providers. By keeping the following tips in mind, you will be able to secure the best deal for your business without exposing yourself to any risk.
Know Your Contract End Date And Start Date
Energy supplier contracts have a start date, end date, and term (in months). Typically, energy suppliers will start new contracts during a particular month on the customer’s meter reading date. And since all customers have different meter read dates, the exact beginning and expiration of your contract can be complicated. Enlist the services of an energy broker to help you when renewing your contract. If you happen to sign a renewal with a start date that is too early, it could expose you to hefty early termination fees from your existing supplier.
Next, it’s important to compare all of the terms of your renewal offers side by side and make sure that they include the same price components. In some states, there is a special tax on energy rates, and some suppliers like to quote rates with or without tax. Making sure that you are able to truly understand your renewal options is critical to ensuring that there are no surprises down the road.
Renewal Contract Terms
Finally, be sure to read the terms and conditions of your new supplier’s contract in detail. Be sure to be aware of hidden contract language that allows for pass-through charges, auto-renewals, or other harmful elements.
How Energy Brokers Can Help With Renewals
Using a qualified energy broker to help manage your energy contracts can give you peace of mind knowing that you have an expert in your corner. Not only will energy brokers have more market knowledge, but they can also help you to stay organized so that you do not miss out on a renewal opportunity or renew too late for that matter. A professional broker will notify you when there are good pricing opportunities to price your contract renewal, gather multiple renewal quotes from energy suppliers, and ensure that the switch to a new supplier goes smoothly.
Need Help Managing Your Renewal?
Diversegy’s team of energy industry professionals has over 100 years of combined experience managing energy supply contracts and agreements for our commercial clients. In fact, we pride ourselves on our deep understanding of the energy markets so that we can help our customers take advantage of future pricing opportunities to save money. Contact us today to learn more about how we can help with your energy contract renewal needs.