How often should I review my electricity contract?

It’s wise to review your business electricity contract on a regular basis rather than waiting until it expires. A good rule of thumb is to check your rates and contract terms at least annually and start evaluating options several months before the end date. Market prices for electricity fluctuate, so conducting a review when wholesale costs are low can lead to significant savings. You should also revisit your contract whenever your company’s energy usage changes substantially — for example, after equipment upgrades, expansion or changes in operating hours. Regular reviews give you time to negotiate better rates or switch suppliers without falling onto expensive default tariffs.