Before agreeing a contract, the energy supplier will check your credit rating to assess the potential risk of default on payments.
Suppliers often buy energy in blocks to service the companies they have on their books in any given period. If too many of those companies default on payments it can leave suppliers with excess energy they’ve paid for but can’t sell. The cost of recovering money owed by businesses can be a long drawn out and expensive affair, so some suppliers are very careful about the risks they take.
Having a poor credit rating and can mean that your choice of energy supplier and energy tariff can be limited. Some energy suppliers simply won’t accept businesses with a poor credit, but others might prevent you from being able to access their best deals.
It’s a good idea to compare business energy prices from a variety of suppliers, but make sure that they know about your credit situation so they can tailor your quote accurately. The Electric Board will be able to advise you at the time which suppliers are likely to accept customers with poor credit and what you might be able to do to improve your score.
To Find out more on What The Electric Board can do for you and your business: give us a call on 0191 466 1213 or fill out the Free Online Quote Form to find out how much your business could save today!