How much are you spending on energy for your business? It’s time to look for a new provider to be certain you’re receiving the best deal. The Fuel Store works with some of the UK’s leading business energy suppliers to bring you a great selection of offers.
Business energy differs from residential so the best deals can sometimes be hard to find. Our energy specialists will compare the whole market and provide a tailored quote to suit your business needs.
To What Extent Is Commercial Energy Different From Household Energy?
- Business Energy Contracts Are Generally Longer
While variable and fixed-rate tariffs are available, all business energy agreements are taken out for an agreed duration, which can be anything up to five years. Your existing offer isn’t eligible for renewal until it reaches a “renewal window”, which is typically around one and six months before its planned expiration date.
- There’s No Cooling-Off Period.
A cooling-off period, which allows you to terminate your contract without incurring any fees, is not required for commercial energy switchovers. These changes take around 17 days to complete. Make sure you’re entirely satisfied before accepting any contracts with commercial energy providers, as there is no such get-out option.
What Kinds Of Energy Contracts Are Available For Businesses?
To prevent spending too much on your energy, make sure you’re on a suitable contract with your gas or electricity supplier. Energy providers will generally offer better rates to commercial customers, but it is more difficult or expensive to stop your contract early because of this. The following are the primary commercial energy contracts on offer:
The fixed-term contract charges a fixed price per unit (kWh) for the contract’s life. The overall amount you pay each month will fluctuate depending on your consumption.
Your unit rate may change throughout your contract due to market activity.
- Deemed Rate
Your current tariff will terminate, and you will be placed on one of these rolling, out-of-contract tariffs. You will be charged the most costly rates if you do not transfer suppliers or arrange a new arrangement.
What Happens If Your Commercial Energy Contract Expires?
A costly out-of-contract rate will kick in once your conventional energy contract expires, so you should do a utility comparison for your company and find a better deal before that happens.
If you don’t know when your existing contract will end, don’t panic; your provider will contact you when the renewal window opens with an offer of a new deal. However, don’t accept any deal until you’ve evaluated the alternative options. Contact us to discuss this in more detail. Our account managers will work to understand your business requirements and provide the most suitable options.
If you want to save money on your energy bills, then ask our team about an energy audit to identify areas where your company can reduce demand and save money.
Contact our friendly team on 0121 272 7780