Tips for choosing an energy broker
1. Check their independence
Find out how many energy retailers they are connected to and what commission and incentives they get from each. This can help you know whether your broker is trying to influence you to choose a particular retailer, based on the commission or incentive they receive.
2. Discuss their understanding of the energy market and who they deal with
A good broker will be able to provide you with a detailed analysis of multiple options available to you through their network of energy retailers in WA.
3. Have them review your current situation and expenditure
This will allow your broker to get a better understanding of your energy needs and concerns. Their main task is to provide you with recommendations based on the different supply options available.
4. Find out how their recommendations could translate into cost savings for your business
A good broker will identify where you could reduce your energy usage and how you could increase your energy efficiency.
5. Examine their recommendations closely
A good broker will provide a competitive contract for you to ensure your business receives both value and quality of service.
6. Ask about their follow-up process
Check that your broker will monitor your situation even after you've signed up with a supplier. This may allow your business to benefit from any good market opportunities that may appear in the future.
7. Check their background
A good broker will provide you with unbiased information and be transparent about their methods and processes. You can find out more about how they operate by looking at the feedback customers have provided on different web forums.
8. Ask for recommendations from your own network of contacts
If you know of a business that has used an energy broker in the past, talk to them about their experience.
9. Learn about any brokerage fees upfront
Energy brokers generally earn commission from energy retailers so if they directly charge your business a fee or premium understand why and what the fee or premium is for.
10. Understand the value of using an energy broker
A qualified, diligent energy broker could add value to your bottom line and save you many potential hassles with your energy supply - so it's worth investing time to find the right energy broker for your business.
At Synergy, although we are not an energy broker, we can assist you with your energy supply requirements, including finding ways to increase your energy efficiency.
Chat to one of our energy experts today