We know that securing energy contracts can be a complex and difficult process, so we've compiled three simple steps to follow whilst renewing your gas and electricity and don't forget our Energy Team is here to help.
Our energy supply contracts are available in a wide range of contract types and lengths, this often makes it difficult to know how to renew a contract that suits your needs.
However, we award through a competitive tender process which means that you can be sure your electricity, gas, solid fuel or liquid fuel contract is fully compliant with all public sector procurement regulations - making renewal much simpler already!
Here's three steps to making your renewals easy:
1 - Letter of Authority (LoA)
A letter of authority or LoA is a legal document that authorises a third party to correspond with services on behalf of your or your business. By signing an LoA, we act on your behalf when requesting pricing, data, and price comparisons from our suppliers.
This authorisation from you allows us to give you a full picture of where exactly you could be saving money on your electricity and gas supply and to carry out a thorough comparison before you agree to any contract renewal.
This is a vital step in comparing energy prices, switching energy suppliers and producing an extensive comparison service. Here's a simple LoA template to help get you started.
2 - Provide your invoices
It's typical of gas and electricity suppliers to request all new customers to complete a new business form. This will provide them with the relevant data to produce the most accurate quotations for each meter point.
To help you with this stage of a renewal, we ask you to send us a copy of your most recent invoice(s) so we can start the process for you. Majority of the details suppliers will initially ask for can be extracted from your invoices.
A new business form will then usually require some further details which can be requested from your current provider. We can tell you exactly what information is needed and input the additional data required to complete the form.
3 - New business forms and requests
This is where the comparison service comes into play. Once all the details have been confirmed and the new business forms have been completed, you can specify your business requests.
We will then send your new business requests onto the relevant suppliers. It's important to confirm what exactly you're looking for from your gas and electricity supplier.
This then enables us to investigate what contract option is best for you and discuss ways to reduce your gas and electricity bills as well as compare the benefits of every suitable energy company. There are many factors to consider when renewing your gas and electricity apart from savings, for example: contract length, flexibility of contract, combined services and renewable sources/energy.
What YPO do next?
We can help will all 3 stages of the renewal process, and will continue to source the best business energy contracts for you afterwards. Once we know what exactly your business requests are, we send on our quotation requests onto the supplier of your choice. After the requests have been confirmed we typically see quotations returned to us between 3-5 working days.
Our quotation requests include the following information:
- The new business form
- The Letter of Authority
- Your specific contract requirements – e.g.fixed/fully fixed contract types with the duration of 12, 24, 36- and 48-month contract lengths
- Your specified contract start date
If you'd like YPO to help you with switching energy supplier, producing a comparison service or sourcing energy companies for your renewal, view our utility frameworks here. For more guidance and help on the process of procuring gas and electricity, liquid fuels and solid fuels, get in touch with the team!