Business Electricity Plans

Never mind the lighting and the kettle, those computer monitors may use a lot of power. You need a plan, and not just any plan, a business electricity plan.

How are business plans different?

Some providers will offer special services to business customers, such as a personal account manager who can act as your direct contact at the retailer when needing to discuss your account.

Different retailers offer different incentives, which one you choose may depend on your priorities and needs.

You may not be interested in the extra service offered, you might just want competitive rates. Either way, it pays to look around for a deal that suits you and your business.

Do major electricity retailers do business plans?

Many major electricity retailers do offer business plans, and some have dedicated divisions to handle business electricity accounts.

Do business customers get specific energy rates?

This can vary between providers and plans. Some retailers offer specific rates for business customers, while others tailor plans based on the needs of a business customer. If your business is a particularly high user of electricity, some retailers may negotiate individual rates for your business account.

What affects the price of my business electricity bill?

As well as checking for the rates with your provider, there are several other things you should consider when looking around for a competitive electricity deal. Here are some of the main ones to watch out for:

• Fixed or variable rate? If you choose a variable rate electricity plan the price you are charged for each unit of electricity can change at any time. So, you need to keep a keen eye on your bills to make sure that your charges aren’t creeping up.

  If you don’t want your rates to change for a fixed length of time, some providers may offer fixed rate electricity plans. Knowing your rate isn’t going to suddenly go up may give you comfort to know that your rates aren’t going to change during that period.

• Fees and charges As with residential electricity plans, your business electricity plan will be subject to fees and charges over time. These vary between providers but charges could include things like connection fees, disconnection fees, and late payment penalties. It’s worth knowing what charges you could be up for before you take out a business plan.
• Welcome credits Some business electricity retailers may offer a ‘welcome credit’ when you sign your business up to one of their plans.

Other features to look out for.

As we mentioned, some business electricity providers will provide account managers for your business, some other features that you may find helpful to consider as part of your plan include:

• Bill smoothing Some retailers will let your business pay your electricity over regular, equal instalments. This may help with budgeting and potentially avoiding a sudden big bill.
• Online account management Many retailers have apps and web portals which let you view and download your electricity bills, check your account balance and make payments. It’s a good way to keep on top of the costs, and be ready when the next bill is due.
• Energy monitoring tools As well as seeing your account details, some retailers have apps which let you monitor your usage and costs, allowing you to keep track of how much electricity your business is using.

Look for a cheaper or more suitable plan.

Your business electricity plan will vary depending on where your business is based, the amount of kilowatt hours your business uses, when your business uses electricity and any other additional charges. iSelect has a range of electricity providers who offer small and medium business electricity plans, we can help you search and compare from our range of plans and providers. Start comparing online or, for more help, call 13 19 20 and speak to one of our friendly, knowledgeable team members.

<small. Last updated: 08/06/2022