6 Factors to Consider When Choosing an Energy Supplier
When you’re deciding on an energy supplier for your business, it can be easy to become solely focused on price as a point of comparison. Although price is important, there are a variety of important aspects that must also be considered when it comes to who provides natural gas and electricity for your business.
Below, we walk through these additional considerations to help prepare you for the decision-making process.
1. Supplier History
The energy market has a habit of being fairly unpredictable. Varying weather patterns, changing regulations, and evolving technology can make the business of supplying energy a difficult one. As such, you’ll want to make sure that the commercial energy company you select has been well established in the industry. When researching an energy supplier, check to see how long they’ve been in business, and if they’ve always operated under the same name.
2. Reputable Customer Service
Before making your choice, make sure the supplier is willing to assign a dedicated representative to your business. The right supplier can serve as a trusted extension of your team, helping you navigate the market. And of course, friendly and responsive customer service goes a long way.
3. Product Offerings
Not all commercial energy suppliers will give you the same options. You’ll want to be certain that the supplier you settle on has a wide variety of products, services, and prices that can be customized to your business’ evolving needs.
4. Financial Strength
A stable supply of energy is essential to ensuring your business’ operation, so making sure that your energy supplier is reliable and financially healthy is important when entering into a long-term agreement. Before signing on the dotted line, consider requesting audited financial information from the supplier you’re considering.
5. Company Structure
Many suppliers are subsidiaries of larger international companies and may not have the time or ability to focus on your industry or local market. Privately held companies can be more flexible, as they can concentrate on the needs of their customers.. When researching energy suppliers, look for one that’s privately held and domestically based.
Before agreeing to a long-term partnership, you’ll want to be certain that your energy supplier is being open and honest about every minute detail of your contract. Things like regulatory changes, swing, material deviation, and force majeure can potentially alter the agreement you’ve signed. Be sure to insist that a representative from the energy supplier you’re considering is willing to sit down with you and go over every detail in the document.
Consider IGS For Your Business
IGS is a private, family-owned energy supplier that has been working with businesses like yours for 30 years. We can customize products and pricing to fit your needs, and we’re always happy to sit down and answer any questions you have about our contracts.