There are several ways to pay your energy bill and the method you choose can influence the overall amount you pay and have an impact on your time – options include:
Direct debit – this is one of the most popular and convenient ways of paying bills as they’re automated once you set it up. Some suppliers will also offer discounts if you pay this way. There are drawbacks though and if you pay a fixed amount each month you could end up paying more (or less) than you need to.
Paying more just means valuable cash is tied up and paying less means you could be hit with a big bill at some point. You should aim to review your direct debit amount every so often to make sure you’re on top of what you owe.
BACS – this is another type of electronic payment but instead of a fixed amount (like a direct debit) you can change the amount you pay each month according to your bills. BACS payments give you more control over expenses but it does mean you need to remember to pay the bill in the first place.
Debit or credit card – if you decide to pay your bills by card, you’ll usually need to contact your energy supplier directly. Like BACS payments, while you have control over your outgoings, you need to take the time to pay the bill (and remember to do so).
Cheque or giro – at the bottom of your bill, you’ll have a slip that lets you pay by cheque or giro. You’ll need to send this slip along with your payment to your supplier by post. Bear in mind that posting your payment can take up to five days so you’ll need to be very organised or run the risk of being fined for late payment.
The choice of business energy payment methods means there’s bound to be an option that suits you depending on the time you have and the control you’d like over your outgoings.
If you need more help or advice about business energy contracts and ways to pay, you can phone us on #CAMPAIGNBUSINESSSERVICENUMBER# or request a callback.