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Switching Business Energy Suppliers For Cheap Electricity & Gas
19 Aug 2020
Description

 

Switching your gas or electricity company remains the best way to get the best deals and lowest possible prices for your business. More than 50 business energy suppliers now operate in the UK; there has never been a better period to switch suppliers. However, with several alternatives, it may look staggering to attempt and make the optimum choice of a new supplier. Hence, the following guide is tailor-made to your convenience on how to switch suppliers and what to watch out for when you do finally make that business energy switch.

Best Time To Business Energy Switch?

Switching your business energy supplier is somewhat more complex juxtaposed to switching your home energy supplier. Your energy usage, business size, and contract length and type all make an influence as to when you will be able to switch.

Switching Period & Dates Of Renewal

The crucial information to know is when is your current contract up for renewal and when can you alter the suppliers, often called the switching window or notice period. Your current energy bill or energy contract needs to be observed carefully. It must plainly demonstrate as to when your contract is up for renewal and when your switching window is open and when it closes. In case you cannot find the information, you need to ask your energy supplier for it.

Guidelines For Micro-Businesses

An exception for other guidelines is micro-businesses. These are described by Of gem as meeting one of the following basis. To employ fewer than 10 employees or their full time equivalent and has an annual balance sheet or turnover no greater than £1.8 million. Either uses not more than 100,000 kWh of power per annum. Consumes no more than 293,000 kWh of gas per annum. In case your energy bills are less than £1,000/month your business most certainly qualifies.

It is mandated by the government regulator that the maximum notice period for termination that a supplier can impose on a micro-business is 30 days. Furthermore, 60 days before a fixed-term contract ends, suppliers should inform you how much energy is used each year. Details need to be provided on how the cost of your current contract collates with the new contract costs. Hence, if one runs a micro-business one needs some more flexibility and time for altering your contract and supplier.

Switching Deemed Contracts

In case you move into new business premises you will mostly come under a deemed agreement with the prevailing supplier. If this is the case, then you can perform a business energy switch at any time. Notice period restrictions or termination fees do not apply. Similar rules usually apply in case your agreement has expired and additionally in case you are spending extra-contractual tariff to your supplier. It is also mandated by the government regulator that “if you are consuming energy on a default – or deemed – tariff, your supplier has an obligation to take all reasonable steps to tell you about other available contracts and how you can get information on these.”

Source URL - https://sites.google.com/view/eca-business-energy/switching-business-energy-suppliers-for-cheap-electricity-gas

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Business Energy Switch
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