Large organizations experience challenges when opening or closing their utility accounts. The process can be time-consuming. Plus, switching to a new supplier via Utility Bidder requires that you close the previous account. Luckily, the guide below contains the steps you need to close or open utility accounts. Keep reading!
#1: Prepare For Delays
Problems may occur. For instance, if your physical address doesn’t match the address on your supplier’s file, it may cause a delay. For instance, a physical location 200B cannot be the same as 201A. These are the mistakes you should anticipate.
It’s important to note that your utility company can change your address for several reasons. One of the reasons is to accommodate a new building site. It’s up to you to keep checking and calling them to ascertain that your information is in order.
Be ready to wait. Remember, you cannot move forward with the account initiation without addressing address discrepancy. To verify your address, the provider will make a site visit and check the meter as well as its location. This is likely to cause delays.
#2: No Same Day Services
You need a lot of experience to open and close these accounts. Otherwise, be ready for surprises and potential delays. Thus, same-day service isn’t going to happen. You need to exercise patience
Plan ahead. Remember, these companies have priorities. If you want fast service, you may have to part with extra cash. Have all the details before starting the process. You can ask an expert to help you track the process.
#3: Requirements
You will be asked particular questions before initiating the service. Thus, be ready with the following information before starting the service:
- Utility company name—Where is it located? What is the utility company’s physical address?
- Meter number of the previous tenant
- Your lease. Make a copy of it. Also, don’t forget to provide the square footage of your common’s location.
- How do you plan to use energy in that location? This information will help the utility representative to place you in the right tariff. If you plan to run a rooftop HVAC, spell it out. Specify the number and strength of the equipment you plan to run.
- Articles of Incorporation
- Your Company’s W8 and license number
- A contact in your company who can access the meter
#4: Deposit
To process your contract, you should pay a deposit. Your credit report will determine the amount of deposit you pay. Also, your deposit can be calculated based on your facility’s square footage. You may also be required to bring a Letter Of Credit. Also, a surety bond can act as a deposit.
If you have experience, consider negotiating for a smaller deposit.
#5: Settle Your Bills
Unlike opening the account (which is a bit complex), closing your account is much easier. All you should do is settle the outstanding bill. The process may take up to 2 days.
The Bottom-Line
Does your business operate in more than one state or city? Well, you will need to open or close accounts regularly. This process requires certain steps. Making simple mistakes can be costly. Use the above steps to close and open your business’s utility accounts.
