When should I switch my energy supplier?

Time to change electricity supplier 171 6003510 0 14100132 300

Choosing a new business energy supplier has the potential to save money on your bills, but when exactly should you make the switch? The truth is that there's no right or wrong time to change - providing you have all the facts to hand, you should find it easy to take on a new deal.

There are, however, some key stages in your businesses' life cycle that could give you the encouragement you need to carry out an electricity comparison.

Moving to new premises

There may come a time when your business needs to move elsewhere. This could be for a variety of reasons, ranging from the need to expand, to the lease on your current premises coming to an end.

No matter what the motivation for the move, this could present the ideal time to take a look at your gas and electricity tariffs. It's not wise to think that your existing deal will offer the same benefits once you've relocated, so do a little research and your business finances could stretch a lot further.

Price changes leave you out of pocket

There are times when gas and electricity suppliers need to change their tariffs, which may mean you're no longer on the right deal for your company. Government figures show that during the 10 years to June 2013, electricity prices increased 72 per cent, while gas costs were up 54 per cent.

There could be a better deal for you out there, so assess what products are available and choose the one that's most suitable for your needs.

Reaching the end of a contract

Energy contracts come to an end, so why not use this as an opportunity to see what other offers are available? Your existing supplier won't necessarily offer you the deal that's most suited to your needs, so don't be afraid to look elsewhere.

You're not getting the service you deserve

Some energy companies will offer better customer service than others, so if yours isn't up to the mark, now could be the ideal time to switch. The process could be easier than you think, so don't put up with service that you're not happy with.

Figures from the Australian Energy Regulator (AER) show that in the 2013-14 financial year, a total of 18,336 small business customers made complaints about their provider. A further 7,496 were issued in South Australia.

Posted by Nikki Wilson-Everett