More haste less spend

What is the decision making process in your business? Do you like to think that you can react quickly and agree a course of action? We all like to think so, but what happens if you are busy in other aspects of your business? Do you stop and prioritise which issues you need to resolve first?

The renewal of your energy contract is time sensitive in many ways. The most obvious action that requires timing within your renewal process is in making sure you issue your termination notice at the right time. If you fail to terminate then you lose the ability to change supplier and potentially the chance to access the best deals for your circumstances. There is a cost to you in missing this action.

Once you have successfully issues your termination then it is all plain sailing from then on isn’t it! Well no, it is at this point where you can still lose out financially and it is why you need to make sure that your decision making processes are what they should be.

Energy prices fluctuate, we all know that. Energy prices tend to fluctuate in an upwards trend, well at least over the past 5 years they have. Energy prices fluctuate at the whim of the energy suppliers and these changes are brought in with minimal notice and usually without the ability to honour previously quoted prices.

With this uncertainty over any prices you are offered for the renewal of your energy contracts you must act quickly. To delay can result in a price increase before you have started and an increase in cost for a minimum of the next 12 months.

So, once you have your renewal options prioritise to act quickly and make the decision to secure your prices. Any delay could cost you!

 

 

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