Electricity 4 Business Customer Options
As the company Electricity 4 Business is in administration here’s a guide on what their existing customers can do.
The company Electricity 4 Business went into administration way back in October 2008 and although they were simply a broker for the main suppliers some customers may not still be aware of their options. Their license was revoked by Ofcom on 22nd October 2008.
In cases like this the industry regulator Ofcom makes a decision on what happens when existing contracts expire and these may not be on the most favourable terms and will almost certainly be just on standard contracts without any discounts or negotiations having taken place.
As the company is still in administration and their affairs being handled by Price Waterhouse Coopers if you were a previous electricity 4 business customer and have not reviewed your current energy provider arrangements then perhaps now is the time.
Your 3 step plan
Here’s a guide on what to do if you have either been placed with another provider by Ofcom or your contract that E4B negotiated for you is nearing renewal.
- Check to see if you are still under a contract that electricity 4 business signed you up for. If you are see what the terms are and when this contract expires. This is almost unlikely as E4B was a retail provider and the company is no longer in existence.
- If you don’t have a E4B contract then check to see who your current provider and supplier is for gas and electricity for your business and check the contract terms to see if you can move. British Gas was appointed as the supplier of last resort so many companies may find they have a contract with them.
- If you are out of contract or it allows you to move then a) make contact with your current supplier to see what terms they can offer your company and / or b) check with other suppliers such as British Gas or Npower and the other major energy suppliers with a view to moving to their tariffs.
British Gas the supplier of last resort
Back in October Ofcom appointed British Gas the supplier of last resort for customers who came out of contract. This meant that the flow of energy was maintained but some of the pricing may not be favourable to businesses. Unfortunately as the switch over was quick the terms you find you are on may not be the best in the market and as more than one year has past since the collapse if you were put on a 1 year contract that would have most likely expired.
Shop around and compare prices
So now may be a great time to compare prices for gas and electricity for your business from the main big 6 suppliers. Many of the other independent providers of energy have also collapsed so our current advice is to go for either British Gas, EDF Energy, Eon, Scottish Power, RWE or Scottish and Southern. They all want the business customer so either get an online quote from their websites, use a price comparison site or call them up and speak with them about your requirements.
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