Why Your Business Should Be Using An Energy Broker

Energy brokers are crucial in helping businesses manage their energy needs, but common misconceptions lead to missed business opportunities. Many believe brokers are just middlemen or unnecessary expenses, but a reliable energy broker can provide invaluable expertise and support. In this blog, we’ll address some of the most common misconceptions about energy brokers and highlight how a trustworthy broker, like the Green Energy Advice Bureau (GEAB), can benefit your business.

“Energy brokers are untrustworthy.”

This is one of the most common misconceptions, but as with any industry, there are good and bad ones. Make sure you do your research and find an energy broker that will ensure your business gets the most out of working with one. At GEAB, we pride ourselves on our trust and transparency when it comes to our customers, so don’t be surprised if we get straight to the point – we don’t want to waste your time beating around the bush.

“They only put in a process. I’m looking for a strategic plan.”

The traditional process of sourcing business energy can often feel like a repetitive cycle. Typically, as your contract nears its end, you receive a renewal quote from your supplier about three months in advance. You might then seek better deals by comparing prices online or consulting a broker, only to repeat the same process with each contract cycle.

However, partnering with the right energy broker can transform this experience. For example, if your contract ends on 30th November 2026, you can secure a new contract starting as early as 30th November 2024 – two years in advance! You can even lock in contracts for up to five years in duration, ensuring stability until 30th November 2031. This proactive approach allows you to take full advantage of market opportunities and lock in competitive rates in advance. Additionally, we offer strategic support to help your business achieve net-zero goals, providing tailored sustainability advice and innovative energy solutions. This means you’re not just managing contracts but building a forward-thinking energy strategy.

 “I still have to talk directly to my supplier.”

Working with a good energy broker means you will never have to talk to a supplier. At GEAB, once you enter a contract with us, you’ll be assigned to a dedicated account manager who will liaise with you. If you have any questions or complaints about your supplier, all you have to do is let your account manager know by phone or email. They will do the rest, ensuring you are kept informed about the query and given all the answers you are looking for as soon as possible.

 “I have to pay commission directly to the broker.”

You don’t pay us anything directly, we are paid by suppliers directly based on the energy you consume. We make sure that all of these charges are very clear before you sign any contract. We don’t believe in hiding our earnings from our customers.

“It’s not a regulated industry.”

From 1st October 2024, following a detailed Retail Market Review of the non-domestic energy market, Ofgem published its decision to make it an obligatory requirement that companies disclose Energy Supplier’s Third-Party Costs. This means that any commission a broker makes must be displayed, and any information, when asked, must be provided to a customer. Although this is a new requirement, it’s something that we’ve been doing here at GEAB since we first opened. Requirements like these are only being introduced because other brokers out there are having to catch up.

Understanding the role of an energy broker is essential to making informed decisions about your business energy needs. By debunking these misconceptions, it’s clear that the right broker offers transparency, convenience, and strategic insight. At GEAB, we are committed to providing insightful and comprehensive services, ensuring our clients receive the best value and support.

Our energy experts are waiting to give you the best energy strategy for your business. Allow us to take control and make sure you are ahead of the curve. Call us today on 0191 303 7750 for your free consultation – alternatively, click here to book a call back.

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