In free energy markets, energy and electricity brokers take up the role of being the client’s representatives, where they help them in obtaining the best possible energy rates. Electricity brokers also referred to as energy consultants, are considered the middlemen in any energy procurement process. These professionals are trained to understand the dynamics of energy consumption and industry rates. For organizations without dedicated energy consultants, electricity brokers’ expertise may be needed for energy usage monitoring and assure the organization is not spending too much on energy. Their core role is shopping for energy plans or rates on account of clients – offering constant feedback on different agreements, terms, and prices available. So how do you pick the best electricity broker when they are plenty out there? Read on for a few top tips on how to decide on the ideal energy broker.
Be sure that you research your electricity broker. Check past the marketing and ensure you determine who runs the agencies, who work for them as well as the experience they can provide. Many individuals have electricity or energy experience; however, relatively few have substantial expertise to deliver dedicated tasks needed in your company successfully. Therefore, ensure that the electricity broker is well fitted to offer you services your organization needs, like recommending on multifaceted products and hedging strategies.
Ask your energy broke how long their average client relationship survives and what practices they employ to attract as well as keep clients. Ask for testimonials from their clients to see whether the broker stands by their stated tactics. You want to partner with an electricity broker that is keen on building a lasting relationship founded on customer’s satisfaction with their deliverables.
Furthermore, ensure you understand what precisely the energy broker is selling before accepting their services. Seek out from the TPI a Service-Level Agreement (SLA), descriptive contract, or an equivalent document explaining what services the broker offers, over what timeline, and outlined any related charges. The charges ought to reflect the extent of support they give throughout your contract. For example, an intricate service package may need assistance from different experts across the whole contract lifespan, while basic service may involve one expert calling two suppliers and ask them to estimate as a limited-edition event. Additionally, you may want your energy broker to deal with the whole procurement process on your behalf.
Charges will vary from one electricity broker to another. Some brokers may charge you a one-time fee directly. However, others may charge you an additional commission to the rate provided by the supplier. Electricity broker’s fees can be fixed for simple tasks or performance-related if it is for complicated solutions. Guarantee that you understand what you are paying for and that it will return value for the spending. In a fixed fee contract, ensure your goal is to save more from the renewal quote from your binding supplier. On the other hand, have a reasonable and market-reflective target if you are going for a performance-related payment. Ensure that everything is clear and elaborate regarding the contract.