Pay £25,000 or do-one!
There are many things that factor into the price of the energy you use. Variables like location spring to mind along with many other things. But what about before the energy supplier even gets to that stage. What about what makes them decide if they are even willing to supply you energy?
I?m talking about the very subjective topic that is credit. That?s right, as a business before an energy supplier will consider offering you a price you are credit checked.
For the different types of supplies you have to score certain levels on a credit check and even if the company is just one number away it?s often a case of ?computer says no? and a supplier will not consider supplying.
Sometimes there are cases where certain suppliers will offer prices and some won?t for a company. The reason? There are different credit checks that suppliers can use. One may use Experian; another will use a different one. Experian may fail a company on a credit check but another will pass it due to a delay in updating current company information.
Clearly this is incredibly unfair on the company and sometimes you can get around it, by providing current accounts etc. Other times you can?t and the energy supplier will ask for a 25% security deposit before the start date of the contract. This is something that we try to avoid, imagine as a company being told to fork out £25,000 to an energy supplier ? would you be happy?
It?s not just the companies that can be missing out, the energy suppliers are too. Imagine a very profitable company who have a very large usage annually. That would provide a rather large amount of business to an energy supplier. But possibly due to one of the directors missing a credit card payment 10 years ago, they fail a credit check and the supplier says no.
Both suppliers and companies can be missing out here. Surely is would be better to work closer together to control and manage energy, if there was a level playing field chances are companies would be able to get more competitive prices.