Owning a small business means you have the responsibility of trying to keep your overhead as low as possible. One of your largest expenses besides your building lease is going to be your electric rates. Whether you live in a deregulated state where you can negotiate your electric provider or not, there are ways you can negotiate your electric rate so you can get the most efficient electricity for your small business. Here are things you can do to accomplish this.
See if you live in an energy deregulated state.
Some states allow you to choose your own electricity provider, which means you can actually compare electric companies with one another and choose the one that is the most economic for your needs. Check a list of energy deregulated states to see if your state allows you to have freedom to choose your own provider. Some states, such as New York, even allow you to choose your own gas provider as well for other energy needs.
Once you have confirmed you live in an energy deregulated state, you can then call the electric providers in your area to compare rates and discounts for small businesses to get the best rate for your needs.
What to do if you can't choose your provider
Unfortunately, the list of energy deregulated states is limited, so don't be surprised if you find your own state where your business resides outside this realm. This simply means you will have to negotiate your electric rate with your current provider, which can often be done. Call your provider and discuss discounts or promotions they may have in place for small businesses.
Your electricity provider may be willing to offer a discount on your service if you exceed a certain amount of electricity per month, or they may be willing to give you a cheaper rate if you can provide a list of any energy-efficient equipment you use in your office. Since your local provider will most likely want to be seen in a favorable light by the businesses it serves, it may be willing to lower your rates in a mutually beneficial way for them and your small business.
If you want to lower your monthly electric rate, you need to do a little homework. If you are in an energy deregulated state, you have the freedom to choose your own provider. If not, you can still negotiate with the electricity provider in your area to get the cheapest rate possible for your small business.