The energy consumption pattern for residential and business customers varies significantly. Thus the energy rates also differ.
As energy is one of the significant expenses for businesses, finding the best electricity rates in the market is the first step towards cost-efficiency.
Residential and Business Energy Rates
A single business, in general, might use a lot more energy than multiple residential customers. The increased demand puts an additional burden on the electrical network. In addition, the provider has to put in more effort and cost to support and maintain the infrastructure. Due to these reasons, the energy rates for businesses are comparatively on the higher end.
But this does not mean you need to go with the first retailer you find. You still can compare, negotiate and shop around for the best electricity rates in the market according to your location.
Most retailers have separate energy plans for residential and business customers. Depending on your electricity needs, you can opt for a basic or customised business demand plan. The Australian Government also provides resources to businesses for better energy management.
Find the Best Electricity Rates for Your Business
Understand Your Electricity Bill
Every electricity bill is made up of two basic charges: supply and usage. The supply charge is the cost you pay for energy to be delivered to your workplace. The usage charge is the cost you pay on the actual energy units that you use.
See what type of tariff plan you have been offered. For example, you will be charged the same amount per energy unit with the single rate tariff, regardless of when you use it. But, if you are on a time-of-use business tariff, you will be charged different rates throughout the day.
Conduct an Energy Audit
An energy audit will aid in understanding how much electricity and gas your business uses on a daily, weekly or monthly basis. A detailed audit will reveal insights like when you use maximum electricity, what appliances need the most energy, and how the climate affects your energy usage, among others.
You can get an external energy auditor, who will go through the past 12 months data and identify areas for potential savings.
Compare Plans Online
Once you have access to detailed energy requirements, comparing energy plans in the area becomes hassle-free. Some factors to consider when comparing plans are competitive tariffs, usage and supply rates, fees, billing period, payment options and outsourcing customer support.
Instead of combing through individual retailers’ websites, you can use a third-party website to get access to available energy plans with updated information easily.
Leverage Discounts and Offers
Most retailers will have unique business energy plans set up. For a new connection, you could get a discount on your energy bills for the first year. If you opt for an advanced plan, the retailer could provide you discounts on setting up the infrastructure.
If the retailer cannot meet your energy needs with pre-packaged plans, you could discuss and set up a personalised business plan.
Energy rates vary for residential and business customers as their energy requirements also vary. But these varying rates do not limit your choices. As a business, you can still find the best electricity rates in your location by comparing plans online. In case of concerns, call up the retailer for customized energy deals.
