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Posted on: 

5 September 2023

Renewing Your Energy Contract

When it comes to managing your business expenses, renewing your energy product is a decision that demands careful consideration. As your current energy contract approaches renewal, taking the time to assess your options can lead to continued savings and a smoother energy experience. In this blog post, we'll look at some of the things to keep in mind when renewing, ensuring that you make informed choices that align with your current and future needs.
1. Check your current energy product

To ensure that your business energy needs are met, it’s best to take a moment to review your current contract to better understand what you want when you renew. 

Do you know how much you are currently paying? Are you using a broker and if so, do you know how much commission you’re paying? When does your current contract expire? These important questions will prepare you for making informed decisions.

2. Understand the energy market

This last year the energy market has been turbulent with instability having a significant impact on energy prices and availability. With the significant fall in energy prices, now may be a great time to choose an energy tariff with a fixed price for the duration of the contract.

3. Consider your energy requirements

Have your energy needs changed? Does your usage shift depending on the season? Evaluating your energy consumption will help you to avoid overpaying and reduce energy wastage. You may want to change the length of your contract, with longer contracts (3-5 years) offering stability in pricing and shorter contracts (1-2 years) providing flexibility.

4. Compare different product options

Take this opportunity to explore the pricing and additional benefits included in energy contracts, as well as green energy options. This can help to reduce your carbon footprint and get one step closer to net zero. Some contracts may offer alternative payment plans, so it’s a good idea to keep an eye out for fixed-rate or variable-rate options. 

5. Take action in advance

Contacting your energy supplier before your renewal date can ensure that you’re getting the product that’s best for your business. This helps to avoid being put on an automatic renewal plan, and/or moving to standard variable prices, which are typically higher than contracted prices.

What makes a ‘GREAT’ renewal?

To help you remember what steps to take when renewing your energy contract, it’s useful to think of the acronym ‘GREAT.’ 

Renewing with SmartestEnergy Business

We understand that when choosing an energy contract that low prices are key, but it’s also important for suppliers to have reliability and resilience. Some criteria that we hold ourselves to includes:

  • Highly competitive rates with accurate billing using our smart meters, saving businesses time and money on their energy. You can track your payments using SmartPay.
  • Positive climate action with our SmartFix Renewable products, with 100% renewable energy sources and helping deforestation efforts with our Tree Planting Scheme. Find out more here.
  • Easy management of your energy account using our Smartweb online service, allowing you to access your information anywhere, anytime. You can also use our SmartTracker service to keep up to date with market rates.
  • Trusted supplier with dedicated customer service, thousands of excellent TrustPilot reviews, wholly owned by ultimate global parent company Marubeni Corporation.

If we’re your current supplier it’s easy to renew and you can talk to us about your contract needs up to 12 months before your renewal date. To see if you’re ready to renew, please check your contract end date found on a copy of your latest SmartestEnergy Business invoice.

If you’d like to discuss your energy contract, please reach out to our Renewals team by email to or call us on 01903 703423 (Mon-Fri, 8.30am-5pm).

Alternatively, fill out the form below and a member of our Renewals team will be in touch soon.

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