Commercial electricity prices in Ireland are negotiable most of the time, unlike the domestic ones. The bill is based on usage, payment history, contract clauses, and the hours during which electricity was used. If a business renews the old contracts without comparing their options first, they might be paying more than they need to.
We at Business Utility Broker help businesses by taking a strategic negotiation approach that can help to get better rates and avoid any unnecessary charges. We will help you find a perfect plan that aligns with your productivity. There are some steps involved that must be taken care of to find the best plan.
Understanding your energy consumption and units:
It is crucial to have a clear picture of your current electricity usage and needs. The things that you can review from your energy bill are the peak and off-peak usage, contract clauses, especially the period, standing charges, total KWH consumption, and whether there are any demand charges applicable.
The businesses that have a higher energy consumption have a better chance of getting fairer deals after negotiations. This audit could also help you to find the area where you could cut your electricity usage that will ultimately lead to a lower bill.
Understanding your contract terms and conditions:
Most of the time, businesses run on a subscription plan and keep renewing it without checking the deadlines. To get a better deal in bargaining, you should check the renewal clauses, the termination fee, the notice period conditions, and whether the terms are variable or fixed rate.
The ideal time to negotiate is when your contract is close to expiring. But if it’s not the case, you can still get a better deal if market conditions changed recently, which is the norm these days. Just keep an eye on any exit fee, so it does not exceed your potential savings.
Understanding how to compare different suppliers:
Businesses, regardless of their size, should always check all the options available. Never negotiate with only one supplier. Request quotes including standing charges, contract periods, peak hour charges, unit rates, and billing terms, etc.
Everyone would try their best to give you a better rate than their competitors. We can also help you to sort the comparison.
Understanding how to use your business profile as a leverage:
Some factors give a business a stronger negotiating power. These include long-standing trade track record, defined operating hours, higher or balanced consumption, and a strong and steady payment history. If you have a multi-site business, it will polish your business profile too.
Understanding how to negotiate more than just the unit rates:
The majority of businesses rely on just the kWh rate, but you can also save from the contract terms and conditions. Next time you try to negotiate, discuss the variable and fixed packages, invoice phases, discounts for e-billing, smart meters integration, and the benefits for contract lengths.
This will help you to get lower standing charges, reduced price increase frequency, and prevent the out-of-contract penalties. It will not only lower the electricity expenses, but also help you to gain stability and predictability.
Understanding how to monitor your account after negotiation:
Even if you agree to a new rate after negotiation, continue to monitor your usage and accounts. Keep the incorrect meter estimates, billing inconsistencies, unexpected tariff adjustments, and consumption spikes in check.
This will help you to keep your negotiated savings intact and also prepare for your next renewal early.
FAQs:
- Can Irish businesses actually negotiate electricity rates?
Yes, all the commercial tariffs in Ireland are negotiable.
- When is the best time to negotiate billing with my energy supplier?
You can begin the negotiation process several months before your contract’s end date to check all the potential suppliers and to avoid any automatic renewals.
- Is a fixed rate more stable than a variable contract?
A fixed rate offers better predictability in terms of billing, but a variable tariff goes down as the market prices fall. You should decide according to your business profile and requirements.
- Will negotiation affect my electricity supply?
No, negotiation only affects the bills, not the electricity supply.
Conclusion:
Negotiating the Irish business electricity rates isn’t just about saving, they are about taking control of your energy expenses. By understanding your energy usage, business profile, and negotiation rules, you can get a better price, steady cash flow, and better long-term financial stability in this ever-evolving energy market. Let’s book an appointment today and get started!