You’ve heard the term a few times now, but if you’re not quite sure what it means, at this point you might be too afraid to ask. Don’t stress - we’re here to take the confusion out of what an energy broker does, and why you need one on your side ASAP.
A broker in any industry is the individual or firm who performs a certain action on behalf of an investor, and charges either a fee or commission for their work. The more common types of brokers you might know are stock brokers and mortgage brokers, who look after investments and bank loans for real estate respectively.
Utilising their experience, education and intimate knowledge of their industry, they will action something that you have agreed to, such as organise a mortgage agreement with a certain bank or sell a certain stock you might have.
Generally this is an ideal situation for both the broker and the client - the better the decision made, the better their fee or commission may be, while the client benefits with a low interest rate on their house, or money made by selling the stock.
Since a broker is likely to want a continued relationship with their client, they will be working hard to ensure their work is as brilliant as possible and benefits you the most, leading to a favourable outcome for everyone when you continue to work with them.
So how does this work with energy brokering?
When we apply this concept to the energy market in Australia, an energy broker has a few things in common, and a few things a little different. In context to what they actually do for you, your energy broker is here to ensure you are not paying too much by identifying and negotiating energy agreements on behalf of our business. We also call this service commercial energy procurement.
At this point you may wonder “How does commercial energy procurement differ from running my own energy comparison online? Does it differ from a comparison website?”
In the case of Choice Energy, our team create a competitive environment for you, by putting your bills out to up to 16 different retailers and having them return with their absolute best offer (and unlike a comparison website, if we don’t think we are actually seeing a best offer, we’ll push a little further to ensure it truly is). Likewise, working with a business energy specialist means we can continue to offer further advice and market expertise to optimise your energy spend now and into the future
As for fees: Choice Energy does all the legwork to bring customers market-leading offers. It takes a $0 investment from a client to allow us to form a strategy which puts our customers in the best position possible. The power remains in your control at all times as to whether you would like to take up the offers presented.
Since energy usage for a business can be far greater than for a residential property, it is essential to ensure you’re paying the right amount for your usage to remain efficient. Higher energy usage is often also accompanied with added complexities like tariff charges, which means brokering by an independent party is even more valuable - especially since we can also help you out with additional services like demand analysis, and metering and monitoring to keep your expenses in check.
Taking the stress out of ensuring you’re on the best energy agreement possible is made even easier with your dedicated Choice Energy broker. Simply send us through your latest energy bill, and we’ll get started. Click here.