What to do if you're worried about debt on your small business energy account?

It can be easy for energy costs to get overwhelming; they can be one of the biggest bills busy small business owners face. 

We’ve written this blog to help you understand what EDF are doing to support small business customers. This includes how we are upskilling our small business energy specialists to support you and your business and what steps you can take to reduce your debt now and in the future. 

Why am I in debt? 

There can be various reasons why you may have debt on your account. Put simply, the payments you have made have not covered the cost of the energy you’re using. Don’t worry, EDF are here to help. The first simple step is to check your bill is based on an up-to-date reading and not estimated. Providing a meter reading is quick and easy to do and your first step to taking control! 

How can EDF support me?

EDF has launched a new idea to help our small business energy specialists support our customers in debt to help find the best solution, it’s called CARE+. 

Our fully trained small business energy specialists will support you with: 

Cost - The energy specialists review your account to ensure your invoices are based on accurate readings and billed up to date. This means you are only being billed for what you have used.  
They also review the current tariffs and make sure you’re on the ones that’s best suited for your business. 

Affordability – The energy specialist will discuss your individual circumstances and understand what you can afford. They will then talk through possible ways to help you plan and budget best. 

Reaching the best option – Finally, the energy specialist will chat through options to help reduce current debt and potentially prevent further debt. Some of the options could be, tailored payment plans or different payment methods. Each energy specialist will give you all the available and best suited options that will help you make an informed decision.

Extra support – We also work with 3 key partners which we can signpost customers to if they need additional support. These partners are: 

What steps can I take to reduce my small business debt now and in the future?

Each small business is unique, which means managing energy debt is different for each small business. However, there are some steps that can be taken to give you back control of your energy and manage costs effectively:

• Smart meters for small business – smart meters are a great way of making sure that your bills are accurate so you’re only paying for the energy your business uses. It also means, you don’t have to send us your meter readings, so more time for the important stuff.
• Monitor your usage – we’ve recently launched Energy Hub which you can access via MyAccount- a powerful tool to give you detailed insights into your energy usage. It can help you make informed decisions about your energy.
• Review your existing tariff – during the energy crisis a variable tariff offered flexibility but wholesale energy cost are starting to stabilise so now could be the right time to fix. Ensuring you are on the right tariff for your business is key.   
• How you pay – EDF offer cheaper tariffs if you pay by Direct Debit, it’s quick and easy to set up.
• Review energy saving tips – there are some simple steps that can be taken to help keep costs lower. Take a look at our tips to help cut your small business energy bill.

If you are ever worried or concerned about current or future debt, our dedicated small business energy specialists are always here to help and specialise in supporting all of our small business customers.