You Must Terminate your Energy Contract

How do I avoid getting rolled?

Each business electricity and business gas supplier has different and often complex rules about renewing your business electricity or business gas contract with them, and they will usually write to you anywhere from 60 to 120 days before your contract end-date. This is to inform you of their intention that if you do not agree a new contract with them or terminate your present contract you will automatically they roll your contract over on new rates that have been offered to you,

These rates will always be higher than current market prices, and can be 30 to 100% more than your current rates, depending which supplier you are with.

This letter often triggers the opening of your renewal window, putting the onus on you to take the rates offered or terminate the contract in writing before the window closes, again which - in many cases - can be as little as one or two weeks later.

Terminating your Contract protects you.

Putting in your termination letter will protect you as it allows you to look around for different prices, and it does not mean you have to leave that supplier, it tells the supplier if you do not offer me the best rates I will move to another supplier. Make sure your supplier provides you with confirmation of your receipt and acceptance of your termination notice with 48hrs of receipt of the letter, otherwise the supplier can say we never received the termination letter and roll your contract anyway. This happens to at least 100,000 a year and you need confirmation take a name and phone number of the person you talked to about your termination of contract.

What are Deemed (or out-of-contract) Rates?

These rates are usually the worst and usually apply to businesses that are either new to the property or have terminated a contract but failed to switch to a new supplier. The good news is that, like 28 Day contracts, there is only a maximum of 28 days notice required to switch onto cheaper rates.

What if I'm new to the property?

If you have just moved into a property, you will be supplied by the same business energy supplier that the previous tenants used. However, this supplier is likely to be charging you out-of-contract rates which are significantly higher than average. It is important that you arrange a new commercial energy contract for your business as soon as you can after moving in. If you call us with your new address, we can find out who your current supplier is.