Five things I wish I had known before deciding on my energy provider

Date: 14th Jul 2020   By: Peter McMullan   length: 4 Minutes   Tags: Utilities  

Procuring energy can be a long and confusing process yet it doesn’t have to be! We’ve compiled a short list of considerations for anyone who is thinking about buying their next energy contract, whether that is for now or in the future.

When should I buy?

You don’t have to wait until you are close to your existing contract end date in order to agree your next energy contract.  Most power and gas contracts can be agreed up to three years ahead of the start date and some depending on the product you choose can be done even further ahead of time. Depending on when your next contract is due you will be able to take time to understand the different product options available, get prices and agree your energy contract well ahead of time.

Why does this matter? The cost of power and gas varies over time, it is rather like the stock market and it could be beneficial for you to agree your contract prices when the market is at a low point. This is the case now as the Covid-19 Pandemic has meant energy prices have dramatically reduced. We are seeing prices gradually increase as we come out of lock down but they are currently much lower than they were a year ago.

Beware of complex or unclear energy offers in the market

Finding your way through the energy market can be a minefield and that is why a good energy consultant can really help you make it clear, safe and simple. There are many products in the market some are totally fixed and some with elements of additional costs that may not be shown on your electricity contract offer and may be passed through to your bill. Always make sure you are clear on the product you are buying and ensure you have seen the terms and conditions. It’s important to know how the charges feed through to the total costs that you will see on your bill. Use a reputable consultant who will be clear, honest, transparent and support you to get the best product for your needs. They will be able to take away the work associated with dealing with your suppliers on queries, contracting and help you avoid any pitfalls. Ultimately a good energy consultant will save you time.   

Always make sure you are clear on any termination clauses in your existing contract

This is important because if the clauses are not adhered to, you may find yourself locked into a renewal contract that you may not have chosen or want. Your energy provider will be able to help you with this and we would always advise that you are clear on any termination clauses at the point of contracting. Should you be unsure about your existing contract it would be well worth checking the terms and conditions you are on now.

Make sure you are kept informed of market trends or changes in energy regulations that may affect you

Sustainability is important for all of us today and for the future, so ensure you look at the renewable energy options. Stay informed about the energy market and when prices are low it may be worth considering a renewal for your contract.  Most importantly stay on top of regulatory change. The UK Government have very recently put in place regulations whereby larger Multi Academy Trusts now have to report on energy usage and their carbon outputs on an annual basis find out more here. This is something an energy consultant such as UPG could help you with.

Find a provider who will look after you and your energy needs

One of our biggest tips is to ensure you find someone who will provide you with a hands-on, bespoke service and who will look after everything you need energy-wise. Choose someone who can take the extra work away from you and make your energy buying easy.

Who are UPG?

UPG are an independent energy consultancy working alongside CPC to bring CPC members the best possible service and value for money on the Utilities Supplies & Services framework. It’s important to us that we get to know CPC members, build a full understanding of your energy needs and then seek to find you the right solution and the best value for your money.

The CPC Utilities Supplies & Services framework is OJEU compliant and offers a suite of value added services including bill validation, market reporting and monitoring, sustainability advice and energy management. Find out more about the framework by visiting the framework web page where you can access the user guide. Should you wish to discuss your specific energy requirements, please contact UPG who will be pleased to help and advise you on any of the above points. Please also contact UPG for a no obligation conversation and/or energy quotation.

Contact UPG at:

Email enquiries@upg-ltd.co.uk

Telephone 0345 4022 461