Energy remains one of the largest overheads for Irish retailers, making it essential to review electricity and gas contracts every year. However, comparing business energy prices isn’t as simple as choosing the lowest unit rate — and getting it wrong can be expensive.
Supplier pricing varies based on meter type, usage profile, contract length and billing structure. To compare accurately, retailers must gather meter details and annual consumption, request quotes from all suppliers, and compare offers on a true ‘all-in’ basis, including standing charges and additional costs. Timing is also critical, as switching at the wrong point can lead to out-of-contract rates or breakage penalties.
While this process can be managed in-house, it is time-consuming and complex. By working with a reputable energy broker that has a proven track record, retailers gain specialist market insight and contract expertise — saving both time and money. This article outlines the key steps to comparing energy prices correctly.
Business energy suppliers structure pricing differently depending on multiple factors:
Focusing solely on the headline unit rate is not sufficient. Suppliers have different pricing structures and added extras. Two offers with the same unit price can have very different total costs once all charges are included. Understanding what to compare and following the correct steps is essential for making informed decisions.
Before requesting prices from suppliers, retailers need key information from a recent energy bill:
Having these details ready ensures suppliers provide quotes tailored to your business profile and reduces the chance of errors in comparisons.
Next comes the most time-consuming and complex step: contacting each supplier individually. Expect delays due to hold times and incomplete information, as the supplier sales teams are incentivised to sell their own product rather than provide independent advice. Quotes should be collected in a standardised format across contract durations and types, including fixed and tracker options.
Once quotes are received, businesses need to build a cost model to compare quotes, taking into account all supplier charges and differences. Annualised costs and projected savings should be considered side by side. Ignoring hidden charges will lead to incorrect results and unwelcome surprises. This is where working with a broker reduces workload — reputable brokers already maintain an up-to-date cost model and have live supplier pricing, allowing for quick, independent, and accurate comparisons.
Some suppliers advertise attractive unit rates, but total annual costs may be higher once standing charges and other line items are added. Retailers must compare offers on a true all-in basis, including:
Skipping this step can cost businesses thousands of euros annually. Accurate comparisons ensure the selected plan genuinely represents the best value.
After selecting the most cost-effective plan and contract type, timing the switch is critical. Changes should be aligned with the current contract end date to avoid expensive out-of-contract rates or penalties for breaking contracts. In some cases, paying a breakage fee may be beneficial — for example, if current contract rates are very high or market prices have fallen significantly.
A thorough comparison should always consider (i) contract end dates, (ii) annualised costs, (iii) expected savings, and (iv) contract breakage fees.
Utilityfair is Ireland’s largest and most reviewed commercial energy broker, with over 20,000 customers and thousands of 5-star Trustpilot reviews. Comparing pricing and savings across all suppliers side-by-side is completely free and only takes a few minutes. We are paid the same amount by suppliers, directly from their margin, which means that our advice is independent and impartial.
Together with a full side-by-side comparison, Utilityfair helps businesses avoid expensive out-of-contract rates with an annual review and renewal process. Ahead of contract end dates, our energy advisers benchmark the market again and present the best-value options across all suppliers. We streamline the entire renewal process, handling negotiations (if the business stays with the same supplier) or the supplier changeover (if the business chooses to switch suppliers).
Retailers should feel comfortable asking questions, and we are more than happy to answer them. To get started, click the link below to request a free electricity cost comparison and savings report.
Link: https://bit.ly/CommercialEnergySavingsForRetail
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