5 Things To Keep In Mind When Setting The Electricity Plan In Your Commercial Building
Electricity plans take away a large chunk of the set monthly budget, regardless of the company’s size. The bigger the business, the bigger your electricity requirements, the larger are your operational costs. But thanks to the new-age commercial electricity suppliers, there are many electricity plans for businesses for their commercial spaces and office buildings.
If you’re looking to choose an electricity plan for your business or are going to switch to a new one, there are some things you need to pay attention to before you sign the contract. Let us help you out!
1. Rate Structure
There are two kinds of commercial rate structures—fixed and variable.
Fixed-rate implies that regardless of the fluctuations the market faces, your base rate won’t change until the contract lapses. On the other hand, a variable rate structure indicates that your base rate will vary depending on the change of energy rates on the market. If you’re a business on a tight budget, you might want to opt for a fixed-rate plan to ensure that you don’t have to continue worrying about the market fluctuations at all times.
Additionally, it is ideal to learn which kind would benefit your business the most—different plans bring extra benefits when you sign the contract.
2. Length of Contract
Much like the rate structure, different lengths of terms of contracts you sign can also give you additional benefits and services. If you like the quoted rate, rate structure, and the clauses on the contract, you can opt for a long-term contract. This can put you on their priority list and get you add-on benefits such as servicing, consultations, and some flexibility on the plan itself!
If your business has plans to grow or change your operations after an undetermined amount of time, you can go for a shorter contract period to allow your business some time to access the contract before renewing it or choosing another one.
3. Time-of-Use Plans
Energy suppliers are upping their game, for sure!
Some energy suppliers in select cities offer time-of-use contracts for businesses that run during unconventional hours. Under these plans, service providers provide electricity supply at different rates based on different operation times. Suppose, if nighttime supply rates are lower and your business functions during late hours, you might be able to benefit from the same.
4. Green Energy Options
Green sources of energy aren’t a fad. Many companies worldwide are trying to make a shift to cleaner sources of energy in their commercial spaces. If you’re one of them, you can opt for an electricity supplier that provides services that promote renewable energy, such as solar, wind, hydroelectric, geothermal, and biomass.
This would reduce your carbon footprint and set your business apart from the pool of competitors around you. Since adapting to this new energy source is a difficult task, many large-scale corporations still haven’t caught up. Hence, it can open new doors for your business and bring you to the limelight if you manage to pull it off.
5. Customer Service
The term is often related to service-based companies that provide their products or services to consumers via different channels and provide support. But it is so much more than just running a 24×7 hotline or adding an autobot plug-in on your website.
When looking for an energy supplier, look for one that has active customer support services, engages with its customers, and is available during discrepancies within 24 hours. In addition, you can learn a lot about an electricity supplier’s service through online reviews and referrals.
Electricity supply is a crucial aspect of a commercial building, no matter how small the space. If you’re facing trouble locating a good supplier, consider seeking help from a professional broker to help you find great options that suit your business needs the best.