Finding the right energy broker is a great way to help your business save money in a complex energy market. Energy brokers have unique market insights and they can help you objectively compare suppliers to find the best plan for your business.
Of course, finding the right broker can be tricky. And choosing the wrong person could end up costing you more money if you find yourself stuck in a bad contract.
As more states begin adopting energy deregulation, new brokers continue to enter the energy market. With so many brokers to pick from, how do you know if you’re making the right choice?
How to Find the Right Energy Broker
There’s no simple answer to this but we have narrowed down four questions we think will help you evaluate your options. Here are four things you should consider before picking an energy broker:
1. Do they have a proven track record of success?
You want to find a broker that has a proven track record of success and is well-established in the energy industry.
Can they provide references and client success stories? Can they tell you what kind of insights they have into the energy markets and how they can find unique pricing opportunities?
You’re working with a broker because you don’t have time to watch the markets yourself. So you want to make sure the person you choose has the experience to help you.
2. How many suppliers do they have access to?
When you work with a broker, they will get prices from multiple suppliers and come to you with the best offers. But this is only useful if your broker has access to a large network of suppliers.
A broker who only has access to a small number of suppliers will be limited in their ability to find you the best contract. You want to find someone who has access to top-rated suppliers so your contract is the best price across the market.
3. Do they provide good customer service?
Part of the advantage of working with an energy broker is that you get to develop an ongoing relationship with that person. They should have a genuine interest in your business goals and should be actively looking to get you the best deal.
You should never have to chase down your broker to ask them questions or figure out what is going on. They should be actively communicating with you and should be easy to get ahold of.
4. Can they clearly explain their fees and conditions?
Albert Einstein said that if you can’t explain something simply, you don’t understand it well enough. This definitely applies to your energy contract and fees.
Transparency is important; when you look at your contract, you should know what are charges from the supplier and what are broker fees. Your broker needs to provide a clear breakdown of their fees.
The energy market is complex and can be difficult to navigate so working with an experienced broker is a huge advantage for your business. But choosing the wrong person can cause your business to lose out on money and opportunities.
If you’ve struggled with finding the right energy broker for your business, Broker Online Exchange may be able to help. We have a large network of experienced brokers.
We can connect you to a broker and supplier that understands your industry and provides you with the best rates possible. Contact BOX and learn how we can help you start saving money with energy deregulation.