What does it meant to benchmark? Well, would you buy a television, for example, without making sure you are getting the best deal? Whether that means going from shop to shop, looking through catalogues, or trawling through online retailers, you want to make sure your money is well spent. But what if you don’t know what it exactly is that you want, or worse off, need? Do you crave simplicity or would you rather have the works: SMART, Ultra HD, 3D capability, so big you need a whole wall for it?
Now, translate this to your gas and electricity contracts. There are no shops where you can go to benchmark the different options, no catalogue with full specifications or pictures. It’s a whole new ballgame.
The energy markets, it cannot be said enough, are complex. Energy is, for all intents and purposes, an intangible product, but it is necessary to run our lives, especially in this age where technology rules. And, just like with anything else, you want to make sure you’re paying the best possible price for your energy needs.
Whether you go it alone or with the assistance of an energy consultant, there are many options to choose from, and they tend to get more intricate and tailored the bigger a business you are. A fish and chip shop, say, may need to worry simply about the bare necessities, of having manageable gas and electricity invoices so that it can focus on feeding the rest of us and thriving. A multi-site corporation, on the other hand, has a lot more to keep in mind. Perhaps they would like to be more flexible, focusing not solely on the cost, but the ability to flow along with the market or to align all of their sites’ end dates.
In either case, it pays to benchmark.
With many suppliers to choose from, and not just the Big Six (British Gas, EDF Energy, npower, E.ON, Scottish Power, and Scottish and Southern Energy), there is a fair chance that you will be able to find the best price or the best option for your business. Just like purchasing a television, it’s good to shop around. It could be that what you have currently, the supplier you use now, may be just right for you, but even in that case, isn’t it great to know that you have made a good decision? We live in a world of choices, so why not take advantage of them where we can?