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Businesses have an abundance of expenses, and if you’re a small business owner, you’ll understand how difficult it can be to keep on top of the bills, while also focusing on furthering your growth for future success.

Choosing the right electricity plan for your business can have a huge impact on your finances, and essentially save you hundreds of dollars every year. Even the ACCC says we’re paying too much.

The good news is it’s a competitive market with over 20 retailers available in most areas. They all provide the same service essentially, it’s just that some offer better rates than others. As such, it’s never been easier to find a great deal on your energy bills.

The benefits of comparing

According to the Australian Energy Market Commission (AEMC), you could save up to $800 or more every year by simply changing suppliers. This amount varies depending on the state you’re living in and your current supplier. Regardless, it’s worth shopping around.

By comparing plans you’ll put less pressure on your business. Here are three features you might compare to receive maximum benefits:

Your energy requirements change

As your business expands your energy requirements change. You might have a bigger premise, more staff, more computers running. By moving to a lower tariff you can continue your high levels of productivity, but you won’t see a huge increase in your bills.

Smart meters give flexibility

Most energy companies operate based on meter readings, which determine the size of your bill. A smart meter monitors your consumption in real time and sends this data directly to your provider. This allows you to closely monitor your energy consumption and keep an eye on the costs. Choose a company that uses smart meters and you can also take advantage of off-peak prices so if your business runs on weekends, you pay an off-peak rate.

Sustainable energy

Sustainability and green living are at the forefront of many business owners these days, and your energy bills can benefit. Some energy companies sell green energy tariffs, which can be cheaper than normal rates. These plans include a mix of clean and dirty power and, as such, lower prices may be available.

Choosing the right plan

There’s no one-size-fits-all when it comes to your electricity plan so the best thing you can do is shop around and compare plans with companies like Go Switch. There are plenty of options available for lower tariff rates, which can dramatically reduce your quarterly bills. While other companies offer bonus options – for example, pay your bills on time and get a 20 per cent discount; or higher premiums on renewable energy.

When comparing plans, you want to keep an eye out for package deals, promotional offers and any chance to save money. Consider fixed supply charges, single-rate tariffs, discounts, late fees, solar rebates, contract duration, and contract-exit or moving property fees.

It’s time to switch

Once you’ve checked out the comparisons on your plans, it’s easy to make the switch. Simply get in touch with your new provider, talk to your old provider, and tell them what you want and when. Start saving money today by choosing an energy plan that works for your business with the help of a quality comparison tool!

This Sponsored Editorial was brought to you by Go Switch. For more information, visit www.goswitch.com.au.

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