It’s all about timing when it comes up switching business energy. As it is a little more complicated than switching home energy, there are a few things to consider.
Our experts talk to business owners and office manager everyday on this exact topic. Many are unaware that businesses can lock-in new electricity and gas contracts 6-12 months before their current deal ends. This is particularly useful if energy prices are low.
The best time to start the switch process is six months before your contract end date. This allows you to compare business electricity prices. You will need to switch you gas and electricity contract separately. It makes sense to switch these at the same time.
You can locate your contract end date on your latest business energy bill.
What if you have never switched business energy suppliers?
Unfortunately, many UK businesses have never switched energy supplier. If you are responsible for paying for the electricity and gas that your company uses, you should start the switching process.
If you do not switch your business energy contract before it ends, most suppliers automatically transfer you to a rollover contract.
It is new and fixed-price customers that generally get the best deals. You should compare business energy price at least every 6 months to ensure you’re getting the best deal.
When is the best time of the year to switch business energy suppliers?
Wholesale energy prices usually increase during the colder seasons. These costs are passed on to the energy suppliers, who will increase their prices accordingly. This means that the cheapest tariffs are often available during the spring and summer months.
Switch your business electricity and gas contracts before September you can lock-in better rates.
Keep in mind that the energy sector remains highly volatile. Prices of gas and electricity fluctuate, and the market is getting more competitive as independent suppliers enter the market. Global events can also influence wholesale energy prices. So cheaper rates are not always guaranteed. Switching before September is more general guidance.
Can I switch business energy anytime?
Commercial electricity and gas contracts are fixed. This means you cannot switch before the contract end date. Many suppliers will only allow you to switch during a specified “notice period”. If you fail to switch or renew during that time, they will move you on to a rollover contract. These are expensive and it is important to keep on top of your business energy.
If your energy supplier writes to say your notice period is coming up – don’t ignore it! They do not need your consent to move you over to a rollover contract. You cannot switch from a rollover contract until its end date. This can be really frustrating for many businesses.
Energy suppliers make more money from businesses failing to stay on top of their utility bills.
Leaving your commercial energy contract early will result in large penalty fees.
Our team of advisors can inform you exactly how much you stand to save. Our team take into account your location and energy usage which is why we can guarantee to find you the best deal for your business.
What should I do if my energy supplier is about to increase rates?
This is quite common. If you know your energy bills are about to get more expensive, it’s the perfect time to find a better deal.
We will often recommend our customers a fixed-term deal. This locks in the rates for a set period, usually a year. You can then relax knowing the price you pay for electricity and gas won’t change.
This makes it easier to plan and run your business as you know exactly how much you will spend each month.
How to switch with Business Electricity Prices
- Grab a recent energy bill so you have your electricity and gas usage to hand.
- Fill out our free online energy comparison search using your information. If you prefer you can give us a call and speak to one of our friendly energy advisors.
- Choose a tariff.
- Our team will be in touch to make sure you’re getting the best deal. When you authorise Business Electricity Prices to manage your switch, we will take care of everything else. Our service will not cost you anything.
- Provide your final meter readings. We will inform all suppliers involved.
- Receive your new welcome pack from your new energy retailer.