The current economic climate means small businesses are under pressure to save as much money as possible and energy costs are one area that have spiralled out of control in recent months.
The credit crunch has already counted for two energy providers in the sector - E4B and BizzEnergy - while the recent falls in oil prices have yet to filter through into cheaper fuel bills.
But according to Jon Davies, managing director at Supplierswitch.com, companies coming off fixed-rate deals can prepare themselves to ensure they are in the best position to get the best deal possible.
"Small businesses are facing difficult times and need to ensure they are in control of their energy costs," he says. "In the current market it is essential they are prepared and ready to make the best decisions when their contract ends
"Forewarned is forearmed and its essential small firms are ready to tender at a moment's notice given that energy costs are currently moving as much as 10% every day. Before the contract ends, find out the different rates other suppliers will offer and select the best rate for your business."
Supplierswitch.com offers small businesses the following top tips on how to keep energy costs to a minimum:
- If you receive an estimated bill, where possible take a meter reading and ensure you pay for what you use rather than what the supplier thinks you have used
- Don't get caught unawares: know when your contract is due to end and be clear on which suppliers would be willing to supply you
- Know your position: check the terms and conditions on your contract, the termination period and how to advise your supplier of the termination notice
- Watch the energy market: be aware of prices changes and how this could impact you; energy costs are controllable since you decide when you fix the price and for how long
- Shop around: if your incumbent supplier knows you might switch the chances are they'll be much more competitive
- Know what impacts the quote and service you receive. This could include the prices when you choose to go to market, having a good/poor credit rating and payment history and the distribution charges, depending on where you are based
- Work out how you can make your company more attractive to a supplier. Be prepared to pay by DirectDebit and clear any balances with your existing supplier so you can switch if you choose to