Frequently Asked Questions

Here you'll find a list of our frequently asked questions regarding business energy procurement and energy comparison. Can't find what you're looking for? Use the chatbox and just ask!

Why Should I Switch supplier?


You don’t always need to change supplier come to the end of your contract, but you should always look to assess your usage, understand the various options and contract types available to you that fit your specific business needs. If you’re happy with your current provider, then we can renew you back to them, but we will always tender the business to ensure we have comparisons to assist you in your decision. The main reasons people look to change supplier are: To save money on your bills - It only takes a short amount of time to run an energy comparison with The Electric Board and switching supplier could knock thousands of pounds off the cost of your annual gas and electricity bills. We compare energy deals from a range of suppliers and show you how much you could save by switching. To get a better service - Some energy suppliers offer poor customer service levels and are less effective than others in relation to accurate billing. Switching to an energy supplier with better customer satisfaction scores is the quickest and simplest way to put things right. To do your bit for the environment - Switching to a green energy deal means you can do your bit for the environment whilst being able to offset your carbon emissions.




How much can I expect to save?


There’s no way of calculating this before we’ve looked at your current contract. To provide an accurate quotation we’d need to understand when your contract is due to end, what you’re currently paying, and how much energy you’re using. Once we have this information, we need to look at the type of contract you’re on and whether it’s the right one for your business. We also need to look at what new products have become available since you last changed and make sure there’s not one which is more suitable.
The good news is that we can do all of this relatively quickly. From receiving the information (usually from your current supplier using a Letter of Authority) we can go to all suppliers and ask them to provide their best options. We would then e-mail this to you in a format that lets you do a side by side comparison of the best deals.




Can I cancel my current contract if there are better deals available?


Unfortunately, not. Once you’ve agreed your contracts you have to see them through. However, because we’re able to price well ahead of time there’s the potential for us to agree your next contract, at today’s rates, locked-in for when your current contract comes to an end. With energy prices only going in one direction that’s a strategy we’re seeing more and more of our customers adopt.




What is a Letter of Authority (LOA) and why do I need one?


Our LOA is a document that you sign which provides us with permission to request certain information from your current supplier. What it doesn’t allow for is us acting as an agent on your behalf. It also does not grant permission for us to agree to new contracts on behalf of the business. Due to Data Protection regulations, your current supplier needs to know that we have your permission to request this and the industry-standard way is to submit the request with a LOA. The LOA allows us to request information about various aspects of your current contract such as your current contract end dates, usage consumptions and current contracted rates. It’s important that you’re aware a LOA does not allow us to amend, cancel, or agree to anything on your behalf - it’s purely for collecting the information we need to provide you with a quotation




How long will the process take?


Dependant on the complexity and size of your portfolio, prices can take as little as 24hrs but in some cases, it can take 7 days or more for larger multi-site tenders.




What happens if I switch supplier?





Will we receive an invoice for your services?


Generally, we will not charge you directly for our services. The cost of TEB’s quotation and procurement service is usually included within the cost of the Supply Contract that you agree with the Supplier. Dependent upon the situation and piece of work we are undertaking on your behalf, we do offer a shared refund / shared savings model of remuneration. In certain situations, and where it’s required by our clients, we can offer a fee-based support package to manage your ongoing energy requirements. This service is usually agreed where ongoing support is required over the contract term, rather than a generic procurement service.




What do I need to do?


After a brief fact-finding conversation with one of our Account Managers, the first thing you’ll be required to do is simply digitally sign the LOA for us to start the information gathering process.
From there we will do the rest, resulting in a clear, easy to compare Quote Acceptance Form allowing you to choose the supplier, contract type and term you would like to move forward with.




What is CCL on my bill and should I be paying it?


CCL stands for Climate Change Levy. CCL is a government-imposed tax to encourage a reduction in gas emissions and greater efficiency of energy used for business or non-domestic purposes. CCL is chargeable only on units/ kWh used and not on any other component of the bill such as fixed daily charges. Separate rates have been set for electricity and gas There are a number of CCL exemptions still available, the key ones include: domestic supplies, charity exemption, de-minimus consumers (less than 1,000kWh electricity or 4,397kWh gas in a given month), customers with Climate Change Agreements (CCA's) in place, and for use in metallurgical and mineralogical processes




How can The Electric Board help my business?


A utility consultant can save you time, money and hassle. Using a consultant doesn't necessarily cost more. Often it costs less because consultants have knowledge of the market and the ability to negotiate competitive rates on your behalf.
With businesses going through radical changes to the way they operate, along with the energy market being more complex than its ever been, the benefits of using a specialist to manage your energy contracts have never been greater.




How do The Electric Board differ from other energy brokers?


Whilst not all brokers are guilty of mis-selling, a large percentage make misleading statements about how they are paid, why they are recommending certain deals or suppliers, and this is often driven by financial motives meaning that clients’ needs are rarely the focus of the deal.
Our key differentiator is that we operate transparently in regard to our commissions. We believe a relationship based on trust and mutual affinity can produce the best results. Knowing what you’re paying for the service is the only way you can judge whether you are getting value for money.





The Electric Board

Tel: 0800 245 5054

Email: info@theelectricboard.co.uk

 

Cross House, Westgate Road, Newcastle upon Tyne. NE1 4XX, United Kingdom
 

‘The Electric Board’ is a trading style of Informed Energy Ltd.

Company number: 11576492 

 

© 2020 by The Electric board

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