The credit scoring of your business can influence not only which suppliers you can go to but also what prices they will offer. Typically higher risk companies will be quoted higher rates.
Before agreeing a contract the energy supplier will check your credit rating to assess the potential risk of default on payments.
Suppliers often buy energy in blocks to service the companies they have on their books in any given period. If too many of those companies default on payments it can leave suppliers with excess energy they’ve paid for but can’t sell. The cost of recovering money owed by businesses can be a long drawn out and expensive affair, so some suppliers are very careful about the risks they take.
Having a poor credit rating and can mean that your choice of energy supplier and energy tariff can be limited. Some energy suppliers simply won’t accept businesses with a poor credit, but others might prevent you from being able to access their best deals.
It’s a good idea to compare business energy prices from a variety of suppliers, but make sure that they know about your credit situation so they can tailor your quote accurately.
IUConsult will be able to advise you at the time which suppliers are likely to accept customers with poor credit and what you might be able to do to improve your score.