If you’ve yet to switch business energy suppliers, you’re not alone. A 2015 investigation by the Competition and Markets Authority revealed that 40% of businesses haven't tried to switch business gas or electricity deals in the past five years, and 39% have never attempted to switch business electric and gas deals at all.
The bad news is that not switching business energy deals regularly means that it’s more than likely you’re paying far more than you should for your company’s electricity and gas. The good news is that with our help, it’s easy to switch business energy suppliers and cut your company’s bills.
Switch Business Energy Suppliers
When can you switch business energy supplier?
If you’ve been put on an expensive 28-day, deemed-rate or out-of-contract tariff, you can switch business energy suppliers and get a more competitive deal with just 28 days’ notice.
However if you’ve allowed your old contract to roll over or you’re just unsatisfied with your current energy deal, you’ll have to wait until you enter your ‘renewal window’ before you can switch business energy suppliers. Renewal windows typically come up within three to six months of a contract approaching its expiry. If you switch business energy supplier and leave your contract before it expires, you run the risk of incurring hefty early exiting fees. If you can’t find the details of your contract’s end date and renewal window on a recent energy bill, contact your supplier to find out the exact date.
Microbusinesses are offered more flexibility under Ofgem rules with notice periods of just 30 days to make it easier for them to switch business electric and gas deals.
Why do some energy suppliers not offer quotes?
Business energy suppliers are not under any obligation to supply individual businesses. If your company’s usage is particularly high or low, not all suppliers will be able to meet your requirements and may decide not to offer you a quote for this reason. A request to switch business gas or electricity supplier can also be rejected due to poor credit rating.
How long does it take to switch energy suppliers?
Once you’ve agreed a new energy contract, it should take between four and six weeks to switch business energy completely. Your new contract should start the day your current arrangement ends. As your new supplier will use your building’s existing pipes and cables, there won’t be any need for digging or drilling and there shouldn’t be any disruption to your electricity supply. Your new supplier will be in touch to confirm the exact date you’ll switch business energy suppliers and your new payment details.
Can you switch suppliers if you’re moving business premises?
Moving business premises provides a rare opportunity to switch business electric and gas deals outside of your renewal windows. On the other hand, if you choose to do so, you should be able to transfer your existing energy contracts to your new location with just a month or so notice.
Whether you decide to switch business electric and gas deals or not, it’s important to make sure you get an arrangement in place to avoid expensive out-of-contract charges such as deemed rates. Deemed rate tariffs are rolling contracts that are arranged by suppliers for customers with no formally agreed contract. Deemed rates can be as much as double the cost of competitive energy deals. For this reason it’s important to arrange a new deal with a supplier of your choice as soon as possible after moving in to a new premises.
Whether you’ve moved into a new business premises, let your old contract expire without arranging a new one or simply haven’t tried to switch business gas or electricity contracts for many years, running a business energy comparison will save your business money.
Call Property Price Advice on 0800 980 2096 and speak to one of our energy advisors today about switching business gas and electricity deals and securing your business cheaper energy.
