What is an energy broker? If you’re like most businesses, chances are you haven’t heard of an energy broker before. That’s because energy is a resource that we often take for granted. We just turn on the lights, charge our electronics, and pay the bill when it comes due. However, with the growing push towards energy sustainability around the world, companies are beginning to take a closer look at their energy consumption. That’s where an energy broker comes in.
What Is an Energy Broker?
So, what is an energy broker? An energy broker is an individual or company that serves as an intermediary between energy companies and businesses. Energy brokers make sure their clients are getting the best possible rate for energy services (like electricity and natural gas) by comparing rates from a wide variety of providers and negotiating contract terms.
Energy brokers are quite common in states that have deregulated energy markets. In states with more regulated markets, energy brokers fill more of a consulting role by auditing contracts and invoices, as well as creating custom energy management strategies.
Curious about regulated markets, deregulated markets, and energy consultations? Find out more here.
What Is An Energy Broker: Why Work One?
This is a fair question, especially for smaller businesses, and we’ve got a few excellent reasons listed below.
No legal jargon. Energy brokers are experts in their field. Their in-depth industry knowledge makes reading complicated energy contracts and tariff documents a breeze.
Contracts that fit your needs and your budget. Energy brokers are constantly monitoring the market to ensure their clients get the right contract at the right time for the right cost. Most businesses don’t have the time to do that on their own.
Proactive contract monitoring. Many energy brokers also continue monitoring your invoices and contracts after they’re established, ensuring that their customers are being billed correctly.
Future planning. This is a requirement many businesses don’t think of. But energy brokers do! After all, a business’ energy requirements and needs are bound to change over time. So, energy brokers work with their customers to design an energy strategy that will fit their present and future needs.
What Is An Energy Broker: How to Find the Best One
If you’re thinking you might benefit from an energy broker, we’ve got a few questions you can ask to help you narrow down your options.
1. Have they proven to be successful?
Having a well-established energy broker is crucial to getting the best contracts possible. Look for an energy broker that’s been in the industry for several years – one that can provide client success stories and references.
2. How many suppliers do they partner with?
This is an important question. But before you answer it, it’s important that you know the difference between commercial energy brokers and direct energy brokers. Direct energy brokers represent a single supplier and will only quote that provider’s prices. A commercial energy broker works independently, obtaining multiple prices from multiple suppliers to benefit their clients. It’s up to you to decide which you’re most comfortable with.
If you choose a commercial broker, you’ll want one with a large network of energy suppliers. That way they’ll be able to truly find the best price possible for you.
3. Do they provide excellent customer service?
A good energy broker is a good partner. This means they should be active communicators and have a genuine interest in their clients’ goals. This should be evident in their customer reviews, which should be readily available online.
4. Can they clearly explain complex contracts and fees?
A true expert will be able to explain complicated energy terms and conditions in a way that their clients can understand. Not only that, but they should also be completely transparent when it comes to contracts and billing. When you look at your contract it should clearly state what charges are from the supplier and what charges are from your energy broker.
Get the Best for Less with GreenStar Solutions
Now you finally know the answer to the age-old question: What is an energy broker? If you’re looking for the perfect energy solution, GreenStar Solutions might be able to help. With our team of energy experts and extensive network of providers, finding the perfect solution has never been easier. Especially because we create an energy strategy for you that’s absolutely free. Interested in learning more? Reach out to us for a free consultation today!