Understanding your Quote

Category: Utilities

When we send your quote, we include a screenshot of the prices and terms we obtained directly from the wholesale energy suppliers portal. This guarantees you see exactly what the rates and terms that were bid for your custom in a fair and open way.

 

The screenshot will be headed as above… The headings mean the following…

Supplier – The Supplier who is offering the contract

Tariff – The name of the tariff being offered

Term – The length of time the contract lasts for. Between 12 and 60 months

Start Date – The estimated start time of the new contract

Payment – The payment method required for the contract

Commission Type – This is the commission that we receive from introducing you to the supplier.  This is also referred to as “Uplift”. As we maintain our stance of selling with the minimum uplift as we can, this will only ever be a maximum of 0.1p per unit.

S/C – The standing charge of the contract, usually displayed as p/day or £/Qtr.

Prices (p/kWh) – The unit charges associated with the contract. There may be multiple values displayed here. If there are, we will explain what values correspond to what.

Commission – The amount of money we (Numbergroup Utilities) receive.

Annual Cost – The amount that the contract will cost over the period of 1 year, based on the estimated annual consumption figure we have quoted you for.

How long are quotes valid?
This largely depends on how long the supplier will honour the quoted prices, we have even seen some get pulled within a few hours. Suppliers have a price book, which they use to sell their energy portfolio to business customers. If the price of wholesale gas/electricity goes up or down, the supplier may choose to update the pricing on their portfolio. As soon as they do this, they will no longer honour their old prices, and will only accept contracts on the new prices. As such, if you find prices that you would like to proceed with, we would recommend you do not wait about!

Factors which affect a quote
Energy prices for business vary massively for some really varied reasons. These include… Global markets, Your business geographic location, Type of Supply, Business Type, Business credit rating. You will also get the variation in pricing from different suppliers and each supplier may adjust their prices due to the above in differing amounts. As such, its impossible for us to provide accurate prices for all potential customers. We always advise to get a quote for you own supply, based on your circumstances, to ensure you are getting the most realistic prices for your supply.

Broker Commissions
Most brokers will not tell you the commission value, as this denotes how much money they are making off the sale. The reason for this is that the uplift value is a value added on top of the supply price, which the broker adds on to make a profit from the sale. We cannot sell the contracts at “sale” price (i.e. with no uplift at all), due to the way the relationship between ourselves, our contract handlers and the supplier works. This is why we add the smallest amount of uplift that we can. As mentioned above, this will either be 0.05p or 0.1p per unit. This is the reason we send a screenshot from our system, so we are being open and honest with regards to the prices we are charging, and the uplift that is being added.