Utility costs make up some of the most significant expenses associated with running a business. For many business owners, that can also translate to a lot of time and energy spent trying to understand and navigate utility options, usage projections and, of course, costs.

We live in a time with multiple options, and each decision can have an everlasting impact on your business success. Utilities, and the way you choose to handle them, are no different. Ultimately, how you manage your energy reflects how you manage your entire business.

If you’re in the midst of utility procurement or are reevaluating your current situation, you’re likely all too familiar with how overwhelming that task can become. Conversely, you may feel that despite the financial impact of utilities your decisions are limited — but that’s far from the truth. The problem is that even recognizing those decisions can take years of experience, and knowing which ones can positively (or negatively) impact your bottom line can require even more in-depth knowledge of energy use and management.

So where do you begin? It’s highly unlikely that you can toss all other responsibilities aside and dive headfirst into an intense energy education. However, you do have the power to understand some of the basic players and empower yourself to make more informed decisions that will rein in energy spend. Part of that knowledge quest includes differentiating between utility supplies, brokers and consultants.

Utility Suppliers 

There’s no secret here: A utility supplier is exactly what it sounds like — a company that supplies the utilities required to run your business. Thanks to a deregulated market, businesses are free to choose their supplier, which often results in competitive pricing as well as other perks. However, that same free market can also breed confusion. When you’re selecting your utility suppliers, it’s important to understand their pricing, contract terms and overall customer satisfaction (e.g., reviews, general customer experience, etc.).

In the end, utility suppliers are an inescapable necessity of owning and operating a business. If you want the energy to run your business, you need a supplier — it’s as simple as that. What’s not always simple is picking the best one.

Utility Brokers