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Business Energy Contracts

Four details you need to know

Business energy contracts - they’re long, they’re not very interesting, but they’re very important.

When you sign up for a contract, you should read the whole thing and make sure that you understand it.

However, there are certain vital details that you need to try and remember. The main points are:

  1. Who supplies your energy
  2. Your unit rate and standing charge
  3. The date your contract ends
  4. The termination window
1. Who supplies your energy

If you’ve just moved in and you’re not sure who your energy supplier is, or even if you’ve been there for years and have simply forgotten, you only need to make one phone call to find out.

To identify your electricity supplier, call the Metering Point Administration Service in your region:

  • Scotland (North) - 0345 026 2554
  • Scotland (South) - 0845 270 9101
  • North East England - 0845 601 3268
  • North West England - 0870 751 0093
  • Eastern England - 0870 196 3082
  • Southern England - 0345 026 2554
  • South West England - 0845 601 2989
  • South East England - 0845 601 5467
  • London - 0845 601 5467
  • Yorkshire - 0845 330 0889
  • Merseyside and North Wales - 0845 270 9101
  • South Wales - 01752 502 299
  • West Midlands - 01384 343 838
  • East Midlands - 0845 603 0618

For your gas supplier it’s even simpler, just call:

  • Meter Point Reference Line - 0870 608 1524
2. Your unit rate and standing charge

Expecting people to know their exact unit rate and standing charge might seem a bit unreasonable. However, when the time to renew your energy contract comes it’s good to know these details, so that you can see how the renewal offer your energy supplier sends you compares, and also to ensure you are fully prepared to go out and start finding a better deal.

The simplest way is to look at your latest energy bill.

Once you’ve found your unit rate and standing charge you will need to know if they’re competitive. Your energy supplier and your bill aren’t going to help here, this is where we come in, at Business Juice.

Even if you are not ready to switch we can provide you with a benchmark price you should be paying right now and of course when the time comes we'll handle your switch for you.

3. The date your contract ends

This is a crucial detail if you don’t want to be rolled over. Rollover is when your energy supplier automatically signs you up for a new 12-month contract.

These contracts are often a lot more expensive than the most competitive rates on the market, and you’ll be stuck with them for the full term. You need to know your contract end date and your termination window (see below) so that you can make sure you don’t get rolled over and to ensure your new contract follows seamlessly on from your existing deal.

Your contract end date should be on your energy bill. To find our where visit our dedicated supplier guides which lists by supplier the location and terminology used to display your end date.

You should also keep your eyes out for your renewal letter - your energy supplier will send you a letter, between 60 and 120 calendar days before your contract is due to end. To find out when you can expect to receive your renewal letter visit our dedicated supplier guides.

The renewal letter is crucial as it is not only the renewal price they are offering; it also may feature an automatic roll-over price and the deemed or out of contract price (the price that becomes applicable if you refuse the renewal offer but remain on supply with the supplier past your contract end date).

Remember it’s not rude to walk away and say no to the first contract offer you receive – it won’t be the cheapest.

4. The termination window

Your energy contract has something called a ‘termination window’ - this is the period within which you are allowed to tell your energy supplier that you don’t want to be rolled over.

You need to know the termination window because if you contact the supplier too early or too late, you can still be rolled over onto a premium 12-month contract.

To understand you termination window visit our dedicated supplier guides.

Some suppliers are doing the right things and are including the details of your termination window on their invoices alongside your contract end date.

 

More on Energy Contracts

Once this information is in your possession you have all the information you need to engage in the business energy market with Business Juice.

Even if you can't find this information to hand we're here to help you, simply give us a call on 0800 051 5770, we'd love to hear from you.