In this blog, we outline five steps on how to get the cheapest electricity rates for your creative studio. Some steps include comparing providers, talking to your existing providers to renegotiate a deal, and considering green options to achieve savings in the long run.
Creative studios can use up a significant amount of electricity, especially when it comes to 3D animation, 3D modelling, CGI, virtual reality (VR) tools and other 3D assets. If you’re a creative studio, the need to run your business operations online can be extremely taxing on your energy usage. For small and medium-sized studios looking to lower overhead costs, energy prices can be one of the biggest challenges.
This blog outlines steps on how to source the cheapest electricity rates for your creative studio and save some money.
1. Ensure you understand electricity rates
Business electricity rates vary depending on the size of your creative studio and your electricity consumption. It’s usually calculated on a variable or fixed rate tariff and based on a unit rate per kilowatt-hour (kWh). It’s important to remember when looking for the cheapest electricity rates that while you don’t need to use the same supplier you use for your gas, doing so can allow you to secure a better price.
Your studio electricity unit prices are more likely to be higher than those you pay domestically as business customers pay a higher VAT rate. Click here to read more on business energy VAT.
2. Consider your consumptive needs
Studios use significant energy for several tasks – such as 3D rendering and 3D visualisation. Electrical consumption primarily stems from the use of powerful computers that need to operate beyond office hours or overnight to finish render queues.
Being aware of your energy consumption needs ensures you select a deal that accommodates them while remaining at the lowest price point.
3. Compare providers
Compare and contrast electricity deals using online comparison sites. This allows you to check what’s on offer across the market without having to obtain multiple quotes from providers. These sites usually ask you to provide information about what you’re looking for before giving you a list of personalised options.
4. Talk to your existing supplier
If you already have an electricity contract with a supplier and it’s coming up for renewal, contact them to see if you can negotiate a better deal. Inform them about any cheaper options you find online as they may offer you a lower price to keep your custom.
5. Consider green options
Green electricity is energy produced from renewable resources, such as solar, wind, and hydro. This may be a worthwhile investment if your studio uses more than 150,000 kWh of electricity. If your studio is for customer-facing purposes, using renewable energy boosts your green credentials and helps attract more consumers.
In addition, switching providers where necessary is crucial. If you source a cheaper offer that covers your studio energy needs, ensure you switch providers. Ensure you approve a quote with the new provider first before going ahead. Also check that you’ve paid up all outstanding expenses, that your existing contract is over, and that you’ve allowed for the notice period.
Changing providers usually takes around five to seven days, but your new provider will keep you informed throughout the process. Some providers may ask you to give them a meter reading via your online account or through the telephone. There should be no disruptions to your existing energy supply throughout this time.
Follow these steps to guarantee the cheapest electricity rate for your creative studio and make your operations – whether it be product animation or 3D modelling – more economically viable. Contact Switch Plan – our trusted partner – for more information on energy suppliers in the UK.
