The Importance of Monitoring the Business Energy Market
In the following piece the Watt Utilities team are going to explain the importance of keeping a sharp eye on the business energy market and not being afraid to change your business electricity provider when you need to. No matter the service or consumable, it can take courage to switch providers. Especially if you’re leaving a big-name brand, or one that you’re used to. In fact, some people have even said that it’s not good to switch your business electricity provider at all, because you never really know what you’re going to get from that new provider until the switch is made, and they might be worse… ‘Better the devil you know’, so to speak.
That certainly is one of the potential pitfalls of changing your business electricity provider, but as the team here at Watt Utilities can tell you – and as we’re aiming to show on this very page – the benefits far outweigh the risks, especially if you’ve taken the time to do your research properly beforehand. You see, the UK’s energy sector has changed dramatically when compared to how things were, say a decade ago. At that time, the market was firmly in the hands of ‘The Big Six’. What was the Big Six? Quite simply, a group of large energy providers who acted as either home or business electricity supplier to the majority of the country.
The Bad Old Days: The Heyday of ‘The Big Six’
And ‘the Big Six’ weren’t just home and business electricity providers, their reach covered the whole of the UK energy sector. As time went on though these companies grew greedier. They began operating ‘new-customer-only’ pricing policies. They tried to get customers to switch to them from other providers – including other members of ‘the Big Six’. On paper this might seem like a great idea, but in practice all it means is that unless you go through the extra hassle of switching providers regularly (including all of the time spent researching, reflecting, and deciding on who’s new customer offer you like best – and hence who you want to be your next home or business electricity provider) you’re losing out.
Back then, ‘new customer’ tariffs with the Big Six were some of the best deals around. Some were so good that a new big six customer could get their energy essentially for half price. Practices like these make customer loyalty count for nothing. The good news is that the great British public were wise to what was going on, and set the wheels in motion for the energy sector that we know today to develop – a sector in which there are a large number of ‘contender’ home and business electricity providers to choose from, and the big six – while they are still big – have been cut down to size somewhat.
The Current Situation
Indeed, the problem for those shopping around for a new home or business electricity provider is often that there’s too much choice these days. It can take hours, if not days to research all of the various providers and tariffs available to you. Finding the time to do this can be tricky if you’re also running a business. However, that’s where Watt Utilities come in. We’ve already done all of the research you need, and we stay on top of the very latest news, developments and offers to ensure that we’re always up to date.
What’s more, we focus on (and specialise in) the business utility sector – meaning that our team are the people to call upon if you’re looking for a new business electricity provider, if you want a great deal, but you don’t want any of the hassle that often comes with finding it. It’s not just business electricity providers that our team can help you with either. We’re ready and able to help you find a new deal and save on your business utilities.