In today's volatile energy market, navigating the best deals for your business can be a daunting task. This is where energy brokers help, acting as intermediaries between you and the suppliers. However, with the right level of support & expertise, a suitable Energy Consultant can act as an intermediary between you and the suppliers, providing a beneficial service along the way.
Unlike the financial industry -- where regulation is key in protecting customers -- the energy industry isn’t regulated to a high degree. Therefore, more due diligence is needed when trying to determine which consultant would be the best to partner with.
So how do you distinguish between the good, the bad and the ugly when trying to secure the best energy advice?
Think of an energy consultant as another arm to your business: Helping you to reduce costs through strategic procurement analysis, assisting with queries and resolving issues with suppliers, as well as energy conservation measures that could improve the sustainability of the business as you transition towards Net Zero.
From an Energy Procurement angle, a Good Broker will have relationships with the whole of the market. They will understand all of the products and tariffs offered by each supplier, and -- before they even release your tender to the market -- they will have identified the right type of contract to meet your needs.
This process will focus on finding the best energy plan for your business. Whether you prioritise cost savings or sustainability, a Good Broker will analyse fixed vs. flexible contracts, pass-through options, and green/brown energy tariffs to fit your risk tolerance and budget.
A consultant with a vast network of partners can help you take a more holistic approach to energy usage. They'll start by conducting a comprehensive energy audit, exploring all potential improvements, not just quick fixes like solar panels or lighting upgrades. This approach goes beyond "tunnel vision" solutions, giving you a broader range of options to achieve your sustainability and cost-saving goals.
Very rarely can a clear roadmap to energy optimisation be delivered without more in-depth understanding of the operational activities of the business, so be wary when specific solutions are being pushed early in your engagement.
Beyond core procurement and solution services, a good consultant goes the extra mile by offering comprehensive support. This includes assistance with managing your energy queries, validating invoices, and ensuring compliance with energy regulations. These additional services provide peace of mind and allow you to feel confident in how your energy expenses are managed.
Brokers typically earn a commission from suppliers based on the customer’s energy usage. However, some unscrupulous brokers prioritise their own profits over your best interest. When first encountering a broker, it can be difficult to tell whether they will act in your best interests, but here are some red flags to watch out for:
The Cowboy Broker's Playbook
So, what sets an honest broker apart?
Finding a good energy broker can significantly reduce your energy costs and reduce the stress of handling your utilities. Don't be afraid to do your research, compare brokers (it is prudent to benchmark your broker to ensure the best rates), and ask questions.
By choosing an honest partner, you can navigate the energy market with confidence, secure a great deal, and focus on what matters most – your business.
If your business requires advice with its energy procurement, management, or planning, then don’t hesitate to contact SeeMore Energy to speak to experienced advisors who can help you with bespoke strategies and advice that is tailored to your needs.
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